Old Port Advisors Has $263,000 Stake in Trane Technologies plc (NYSE:TT)

Old Port Advisors lifted its stake in shares of Trane Technologies plc (NYSE:TT) by 12.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 713 shares of the company’s stock after acquiring an additional 80 shares during the period. Old Port Advisors’ holdings in Trane Technologies were worth $263,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC boosted its position in shares of Trane Technologies by 4.0% during the 3rd quarter. FMR LLC now owns 10,337,672 shares of the company’s stock worth $4,018,563,000 after purchasing an additional 397,537 shares in the last quarter. State Street Corp boosted its holdings in Trane Technologies by 0.8% in the third quarter. State Street Corp now owns 9,769,161 shares of the company’s stock worth $3,797,565,000 after acquiring an additional 77,830 shares in the last quarter. Geode Capital Management LLC grew its stake in Trane Technologies by 1.4% in the third quarter. Geode Capital Management LLC now owns 4,638,914 shares of the company’s stock valued at $1,797,700,000 after acquiring an additional 65,991 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Trane Technologies by 35.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,550,511 shares of the company’s stock valued at $991,460,000 after acquiring an additional 671,691 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Trane Technologies by 0.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,142,081 shares of the company’s stock worth $832,691,000 after purchasing an additional 20,151 shares during the period. 82.97% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on TT. Mizuho boosted their price target on shares of Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. UBS Group assumed coverage on shares of Trane Technologies in a report on Wednesday, November 13th. They issued a “buy” rating and a $500.00 target price on the stock. Northcoast Research initiated coverage on shares of Trane Technologies in a research report on Friday, November 22nd. They issued a “buy” rating and a $500.00 price target on the stock. Barclays boosted their price objective on Trane Technologies from $440.00 to $500.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Finally, The Goldman Sachs Group lifted their target price on Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $409.93.

Insider Buying and Selling

In other Trane Technologies news, SVP Mairead Magner sold 4,329 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the completion of the transaction, the senior vice president now owns 12,893 shares in the company, valued at $5,363,488. This trade represents a 25.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.38% of the stock is currently owned by insiders.

Trane Technologies Stock Performance

NYSE TT opened at $373.84 on Friday. The company has a market capitalization of $84.12 billion, a PE ratio of 34.68, a price-to-earnings-growth ratio of 2.38 and a beta of 1.03. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.92 and a current ratio of 1.22. Trane Technologies plc has a 52-week low of $233.76 and a 52-week high of $422.00. The company has a 50-day simple moving average of $397.09 and a 200 day simple moving average of $369.43.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.23 by $0.14. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The company had revenue of $5.44 billion during the quarter, compared to analyst estimates of $5.32 billion. During the same quarter last year, the business posted $2.79 EPS. Trane Technologies’s quarterly revenue was up 10.0% compared to the same quarter last year. On average, research analysts predict that Trane Technologies plc will post 11.13 EPS for the current year.

Trane Technologies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th were paid a dividend of $0.84 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $3.36 annualized dividend and a dividend yield of 0.90%. Trane Technologies’s payout ratio is 31.17%.

Trane Technologies Company Profile

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.