Diversified Trust Co Buys 624 Shares of Trane Technologies plc (NYSE:TT)

Diversified Trust Co lifted its stake in Trane Technologies plc (NYSE:TT) by 27.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,898 shares of the company’s stock after acquiring an additional 624 shares during the period. Diversified Trust Co’s holdings in Trane Technologies were worth $870,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Norges Bank acquired a new position in Trane Technologies during the 4th quarter valued at about $655,804,000. International Assets Investment Management LLC grew its stake in Trane Technologies by 24,670.7% during the 4th quarter. International Assets Investment Management LLC now owns 1,034,423 shares of the company’s stock valued at $252,296,000 after purchasing an additional 1,030,247 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Trane Technologies by 5.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 17,085,662 shares of the company’s stock valued at $3,466,852,000 after purchasing an additional 880,583 shares during the last quarter. TD Asset Management Inc grew its stake in Trane Technologies by 719.8% during the 4th quarter. TD Asset Management Inc now owns 750,894 shares of the company’s stock valued at $183,143,000 after purchasing an additional 659,299 shares during the last quarter. Finally, Putnam Investments LLC grew its stake in Trane Technologies by 27,824.4% during the 4th quarter. Putnam Investments LLC now owns 572,730 shares of the company’s stock valued at $139,689,000 after purchasing an additional 570,679 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TT. Barclays boosted their price target on Trane Technologies from $354.00 to $380.00 and gave the company an “overweight” rating in a research note on Tuesday, June 4th. TD Cowen boosted their price target on Trane Technologies from $325.00 to $360.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Citigroup upped their target price on Trane Technologies from $355.00 to $366.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. UBS Group upped their target price on Trane Technologies from $330.00 to $375.00 and gave the stock a “buy” rating in a research note on Monday, June 3rd. Finally, Stephens upped their target price on Trane Technologies from $310.00 to $320.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $309.79.

Insider Buying and Selling

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

Trane Technologies Price Performance

NYSE:TT opened at $324.83 on Wednesday. Trane Technologies plc has a one year low of $184.02 and a one year high of $345.46. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.74 and a current ratio of 1.13. The stock has a market cap of $73.53 billion, a PE ratio of 34.70, a P/E/G ratio of 2.55 and a beta of 1.01. The stock has a 50 day moving average price of $326.45 and a 200 day moving average price of $291.61.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $1.94 EPS for the quarter, beating the consensus estimate of $1.64 by $0.30. The firm had revenue of $4.22 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 15.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.41 earnings per share. Equities research analysts expect that Trane Technologies plc will post 10.48 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be given a $0.84 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $3.36 annualized dividend and a yield of 1.03%. Trane Technologies’s payout ratio is 35.90%.

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.