Norden Group LLC Makes New Investment in Trane Technologies plc (NYSE:TT)

Norden Group LLC bought a new stake in Trane Technologies plc (NYSE:TT) in the 1st quarter, HoldingsChannel.com reports. The institutional investor bought 2,151 shares of the company’s stock, valued at approximately $646,000.

Several other institutional investors and hedge funds also recently made changes to their positions in TT. BKM Wealth Management LLC purchased a new stake in shares of Trane Technologies in the fourth quarter valued at about $25,000. Motco purchased a new stake in Trane Technologies during the fourth quarter worth about $27,000. Sachetta LLC purchased a new stake in Trane Technologies during the fourth quarter worth about $27,000. GoalVest Advisory LLC increased its holdings in Trane Technologies by 157.1% during the first quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock worth $27,000 after buying an additional 55 shares during the last quarter. Finally, Dixon Mitchell Investment Counsel Inc. purchased a new stake in Trane Technologies during the first quarter worth about $27,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. UBS Group raised their price objective on shares of Trane Technologies from $330.00 to $375.00 and gave the stock a “buy” rating in a report on Monday, June 3rd. Barclays raised their price objective on shares of Trane Technologies from $354.00 to $380.00 and gave the stock an “overweight” rating in a report on Tuesday, June 4th. Stephens increased their target price on shares of Trane Technologies from $310.00 to $320.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 1st. Mizuho increased their target price on shares of Trane Technologies from $280.00 to $325.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Finally, Robert W. Baird increased their target price on shares of Trane Technologies from $315.00 to $344.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $309.79.

Insider Buying and Selling at Trane Technologies

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

Trane Technologies Price Performance

TT stock opened at $333.71 on Wednesday. The firm has a 50 day moving average of $329.30 and a 200-day moving average of $294.81. The company has a current ratio of 1.13, a quick ratio of 0.74 and a debt-to-equity ratio of 0.58. Trane Technologies plc has a 12 month low of $184.02 and a 12 month high of $345.46. The firm has a market capitalization of $75.54 billion, a P/E ratio of 35.65, a price-to-earnings-growth ratio of 2.57 and a beta of 1.01.

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

Trane Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be given a dividend of $0.84 per share. The ex-dividend date is Friday, September 6th. This represents a $3.36 annualized dividend and a yield of 1.01%. Trane Technologies’s payout ratio is presently 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.