Trane Technologies plc (NYSE:TT) Shares Bought by Bearing Point Capital LLC

Key Points

• Bearing Point Capital LLC increased its stake in Trane Technologies plc by 3.6%, now holding 17,344 shares valued at approximately $5.84 million, making it the firm's 29th largest investment.
• Several analysts have raised their price targets for Trane Technologies, with UBS Group increasing their target from $470 to $500, reflecting a generally positive outlook on the stock.
• Trane Technologies announced a quarterly dividend of $0.94 per share, representing an annual yield of 0.80%, further signaling confidence in its financial stability.

Bearing Point Capital LLC lifted its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 3.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 17,344 shares of the company's stock after acquiring an additional 610 shares during the quarter. Trane Technologies makes up 1.2% of Bearing Point Capital LLC's investment portfolio, making the stock its 29th largest position. Bearing Point Capital LLC's holdings in Trane Technologies were worth $5,844,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Norges Bank bought a new position in Trane Technologies in the 4th quarter worth about $1,117,816,000. GAMMA Investing LLC lifted its holdings in shares of Trane Technologies by 35,458.2% in the first quarter. GAMMA Investing LLC now owns 2,015,792 shares of the company's stock worth $679,161,000 after buying an additional 2,010,123 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Trane Technologies by 20.1% in the fourth quarter. Northern Trust Corp now owns 2,567,527 shares of the company's stock worth $948,316,000 after buying an additional 429,953 shares in the last quarter. Pictet Asset Management Holding SA boosted its position in shares of Trane Technologies by 27.3% in the first quarter. Pictet Asset Management Holding SA now owns 1,915,630 shares of the company's stock valued at $645,343,000 after acquiring an additional 410,734 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Trane Technologies during the fourth quarter valued at approximately $147,251,000. Hedge funds and other institutional investors own 82.97% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on TT. JPMorgan Chase & Co. boosted their target price on Trane Technologies from $334.00 to $400.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. HSBC upgraded Trane Technologies from a "hold" rating to a "buy" rating and lifted their price target for the company from $405.00 to $415.00 in a research report on Friday, April 25th. UBS Group upped their price objective on shares of Trane Technologies from $470.00 to $500.00 and gave the stock a "buy" rating in a research report on Thursday, May 22nd. Hsbc Global Res upgraded shares of Trane Technologies from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. Finally, Barclays increased their price target on shares of Trane Technologies from $476.00 to $480.00 and gave the stock an "overweight" rating in a report on Wednesday, July 9th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $441.40.

Insiders Place Their Bets

In other news, insider Donald E. Simmons sold 3,571 shares of the company's stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $380.00, for a total transaction of $1,356,980.00. Following the transaction, the insider owned 3,593 shares in the company, valued at $1,365,340. This represents a 49.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.38% of the company's stock.

Trane Technologies Stock Up 0.1%

TT stock traded up $0.38 during trading on Monday, hitting $472.45. 1,209,811 shares of the company's stock traded hands, compared to its average volume of 1,020,104. The firm has a market capitalization of $105.37 billion, a P/E ratio of 40.24, a PEG ratio of 3.07 and a beta of 1.15. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $476.19. The company has a quick ratio of 0.74, a current ratio of 1.09 and a debt-to-equity ratio of 0.52. The business has a fifty day simple moving average of $433.17 and a two-hundred day simple moving average of $386.23.

Trane Technologies (NYSE:TT - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share for the quarter, beating the consensus estimate of $2.20 by $0.25. The company had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.46 billion. Trane Technologies had a net margin of 13.47% and a return on equity of 36.10%. Trane Technologies's revenue was up 11.2% compared to the same quarter last year. During the same period last year, the firm earned $1.94 earnings per share. Sell-side analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date of this dividend is Friday, September 5th. Trane Technologies's dividend payout ratio (DPR) is presently 31.28%.

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.