Allspring Global Investments Holdings LLC Raises Position in Trane Technologies plc (NYSE:TT)

Allspring Global Investments Holdings LLC grew its position in Trane Technologies plc (NYSE:TT) by 26.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 67,925 shares of the company’s stock after buying an additional 14,273 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Trane Technologies were worth $26,404,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. GoalVest Advisory LLC grew its stake in shares of Trane Technologies by 157.1% in the first quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock worth $27,000 after acquiring an additional 55 shares during the period. Dixon Mitchell Investment Counsel Inc. bought a new stake in Trane Technologies during the first quarter valued at approximately $27,000. BOK Financial Private Wealth Inc. bought a new stake in Trane Technologies during the first quarter valued at approximately $30,000. Fortitude Family Office LLC grew its position in Trane Technologies by 63.2% during the second quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock valued at $37,000 after buying an additional 43 shares during the period. Finally, Triad Wealth Partners LLC bought a new stake in Trane Technologies during the second quarter valued at approximately $39,000. 82.97% of the stock is currently owned by institutional investors.

Trane Technologies Stock Up 0.9 %

Shares of TT stock opened at $395.83 on Thursday. The company’s fifty day simple moving average is $372.79 and its two-hundred day simple moving average is $341.49. Trane Technologies plc has a 52 week low of $184.02 and a 52 week high of $406.96. The stock has a market cap of $89.60 billion, a P/E ratio of 42.29, a PEG ratio of 2.75 and a beta of 1.01. The company has a quick ratio of 0.84, a current ratio of 1.17 and a debt-to-equity ratio of 0.62.

Trane Technologies (NYSE:TT) last posted its earnings results on Wednesday, July 31st. The company reported $3.30 EPS for the quarter, topping analysts’ consensus estimates of $3.08 by $0.22. The company had revenue of $5.31 billion for the quarter, compared to the consensus estimate of $5.13 billion. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. The firm’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same period in the previous year, the business earned $2.68 earnings per share. Analysts predict that Trane Technologies plc will post 10.88 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be given a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend is Friday, December 6th. Trane Technologies’s dividend payout ratio is presently 35.90%.

Insider Activity at Trane Technologies

In related news, EVP Raymond D. Pittard sold 1,805 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total transaction of $593,213.25. Following the sale, the executive vice president now owns 83,517 shares of the company’s stock, valued at $27,447,862.05. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, EVP Raymond D. Pittard sold 1,805 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total transaction of $593,213.25. Following the sale, the executive vice president now owns 83,517 shares of the company’s stock, valued at $27,447,862.05. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO David S. Regnery sold 29,450 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $321.25, for a total transaction of $9,460,812.50. Following the sale, the chief executive officer now directly owns 132,946 shares in the company, valued at approximately $42,708,902.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.38% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Mizuho boosted their target price on shares of Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Morgan Stanley assumed coverage on shares of Trane Technologies in a research report on Friday, September 6th. They set an “overweight” rating and a $425.00 target price for the company. Royal Bank of Canada boosted their target price on shares of Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a research report on Thursday, August 1st. Barclays boosted their target price on shares of Trane Technologies from $394.00 to $425.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Finally, Stephens reiterated an “equal weight” rating and issued a $350.00 price target on shares of Trane Technologies in a research report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Trane Technologies presently has an average rating of “Hold” and an average price target of $373.58.

Trane Technologies 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.