NorthCrest Asset Manangement LLC Purchases 172 Shares of Trane Technologies plc (NYSE:TT)

NorthCrest Asset Manangement LLC raised its position in Trane Technologies plc (NYSE:TT) by 6.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,787 shares of the company’s stock after buying an additional 172 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Trane Technologies were worth $1,083,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of TT. Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of Trane Technologies during the 1st quarter valued at $27,000. BOK Financial Private Wealth Inc. purchased a new position in shares of Trane Technologies in the first quarter worth about $30,000. DT Investment Partners LLC purchased a new stake in shares of Trane Technologies during the 3rd quarter valued at approximately $36,000. Fortitude Family Office LLC boosted its holdings in Trane Technologies by 63.2% in the 2nd quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock worth $37,000 after buying an additional 43 shares during the period. Finally, Triad Wealth Partners LLC purchased a new position in Trane Technologies in the 2nd quarter valued at approximately $39,000. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Price Performance

Shares of NYSE:TT opened at $392.57 on Monday. The firm has a fifty day moving average of $374.71 and a 200 day moving average of $343.06. Trane Technologies plc has a 52-week low of $184.24 and a 52-week high of $406.96. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.84 and a current ratio of 1.17. The firm has a market capitalization of $88.59 billion, a PE ratio of 38.83, a price-to-earnings-growth ratio of 2.70 and a beta of 1.01.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $3.30 earnings per share for the quarter, beating analysts’ consensus estimates of $3.08 by $0.22. The company had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.13 billion. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. Trane Technologies’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same period last year, the firm posted $2.68 EPS. As a group, research analysts anticipate that Trane Technologies plc will post 10.89 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend is Friday, December 6th. Trane Technologies’s payout ratio is presently 33.23%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Stephens reaffirmed an “equal weight” rating and issued a $350.00 price target on shares of Trane Technologies in a report on Monday, August 5th. Robert W. Baird upped their price target on Trane Technologies from $360.00 to $365.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Wells Fargo & Company raised their price objective on shares of Trane Technologies from $320.00 to $360.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. The Goldman Sachs Group upped their target price on shares of Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Finally, Barclays boosted their price target 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. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Trane Technologies has a consensus rating of “Hold” and a consensus price target of $373.58.

Insiders Place Their Bets

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

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.