Griffin Asset Management Inc. Makes New $766,000 Investment in Trane Technologies plc (NYSE:TT)

Griffin Asset Management Inc. bought a new stake in shares of Trane Technologies plc (NYSE:TT) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,550 shares of the company’s stock, valued at approximately $766,000.

Several other large investors also recently modified their holdings of the stock. Keel Point LLC increased its stake in shares of Trane Technologies by 3.0% in the 4th quarter. Keel Point LLC now owns 1,326 shares of the company’s stock valued at $323,000 after purchasing an additional 39 shares during the last quarter. Rosenberg Matthew Hamilton lifted its holdings in shares of Trane Technologies by 27.2% in the fourth quarter. Rosenberg Matthew Hamilton now owns 192 shares of the company’s stock worth $47,000 after acquiring an additional 41 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Trane Technologies by 2.3% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,847 shares of the company’s stock valued at $450,000 after purchasing an additional 42 shares in the last quarter. Level Four Advisory Services LLC grew its holdings in shares of Trane Technologies by 1.5% during the 4th quarter. Level Four Advisory Services LLC now owns 2,757 shares of the company’s stock valued at $672,000 after purchasing an additional 42 shares during the last quarter. Finally, Cedrus LLC lifted its stake in Trane Technologies by 2.6% in the 4th quarter. Cedrus LLC now owns 1,669 shares of the company’s stock valued at $407,000 after purchasing an additional 43 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Trane Technologies Trading Down 1.4 %

TT opened at $328.93 on Friday. Trane Technologies plc has a twelve month low of $184.02 and a twelve month high of $345.46. The company has a fifty day moving average of $325.25 and a 200-day moving average of $289.71. The stock has a market cap of $74.45 billion, a PE ratio of 35.14, a price-to-earnings-growth ratio of 2.61 and a beta of 1.01. The company has a quick ratio of 0.74, a current ratio of 1.13 and a debt-to-equity ratio of 0.58.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $1.94 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.30. The firm had revenue of $4.22 billion during the quarter, compared to the consensus estimate of $3.99 billion. Trane Technologies had a return on equity of 32.78% and a net margin of 11.81%. The business’s revenue was up 15.0% compared to the same quarter last year. During the same period last year, the business posted $1.41 EPS. On average, sell-side analysts predict that Trane Technologies plc will post 10.48 EPS for the current year.

Trane Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date is Friday, September 6th. Trane Technologies’s payout ratio is 35.90%.

Insider Transactions at Trane Technologies

In related news, CFO Christopher J. Kuehn sold 4,000 shares of the stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $318.67, for a total transaction of $1,274,680.00. Following the transaction, the chief financial officer now directly owns 61,293 shares of the company’s stock, valued at $19,532,240.31. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, SVP Evan M. Turtz sold 8,988 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $321.30, for a total transaction of $2,887,844.40. Following the completion of the sale, the senior vice president now owns 20,758 shares in the company, valued at $6,669,545.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Christopher J. Kuehn sold 4,000 shares of the stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $318.67, for a total value of $1,274,680.00. Following the completion of the transaction, the chief financial officer now owns 61,293 shares in the company, valued at $19,532,240.31. The disclosure for this sale can be found here. Insiders own 0.38% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Robert W. Baird boosted their target price on shares of Trane Technologies from $315.00 to $344.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Mizuho boosted their price objective on Trane Technologies from $280.00 to $325.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. The Goldman Sachs Group increased their target price on Trane Technologies from $287.00 to $326.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. JPMorgan Chase & Co. boosted their price target on Trane Technologies from $247.00 to $300.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. Finally, TD Cowen raised their price objective on shares of Trane Technologies from $325.00 to $360.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $309.79.

About Trane Technologies

Trane Technologies plc, together with its subsidiaries, designs, manufactures, sells, and services of solutions for heating, ventilation, air conditioning, custom, and custom and transport refrigeration in Ireland and internationally. It offers air conditioners, exchangers, and handlers; airside and terminal devices; air sourced heat pumps, auxiliary power units; chillers; coils and condensers; gensets; dehumidifiers; ductless; furnaces; home automation products; humidifiers; indoor air quality assessments and related products; large and light commercial unitary products; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.