Bridgewater Advisors Inc. Makes New $212,000 Investment in Trane Technologies plc (NYSE:TT)

Bridgewater Advisors Inc. purchased a new position in shares of Trane Technologies plc (NYSE:TT - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 600 shares of the company's stock, valued at approximately $212,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in TT. Brighton Jones LLC raised its position in Trane Technologies by 60.0% in the fourth quarter. Brighton Jones LLC now owns 6,194 shares of the company's stock worth $2,288,000 after acquiring an additional 2,323 shares in the last quarter. Proficio Capital Partners LLC lifted its holdings in shares of Trane Technologies by 28.3% in the fourth quarter. Proficio Capital Partners LLC now owns 685 shares of the company's stock valued at $253,000 after buying an additional 151 shares during the period. Harbour Investments Inc. lifted its stake in Trane Technologies by 11.8% in the 4th quarter. Harbour Investments Inc. now owns 1,029 shares of the company's stock worth $380,000 after acquiring an additional 109 shares in the last quarter. Twin Tree Management LP acquired a new position in shares of Trane Technologies during the 4th quarter valued at about $424,000. Finally, Parallel Advisors LLC grew its holdings in Trane Technologies by 5.8% in the 4th quarter. Parallel Advisors LLC now owns 2,918 shares of the company's stock valued at $1,078,000 after buying an additional 161 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Insider Buying and Selling at Trane Technologies

In related news, insider Donald E. Simmons sold 3,571 shares of the business's stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $380.00, for a total value of $1,356,980.00. Following the completion of the transaction, the insider owned 3,593 shares of the company's stock, valued at $1,365,340. The trade was a 49.85% 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. 0.38% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on TT. HSBC raised Trane Technologies from a "hold" rating to a "buy" rating and upped their target price for the company from $405.00 to $415.00 in a research report on Friday, April 25th. Citigroup lifted their price objective on shares of Trane Technologies from $445.00 to $502.00 and gave the company a "buy" rating in a research note on Monday. JPMorgan Chase & Co. upped their target price on shares of Trane Technologies from $334.00 to $400.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Robert W. Baird upped their price objective on shares of Trane Technologies from $396.00 to $450.00 and gave the company a "neutral" rating in a research note on Thursday. Finally, Hsbc Global Res upgraded shares of Trane Technologies from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Trane Technologies currently has an average rating of "Moderate Buy" and a consensus price target of $441.40.

Trane Technologies Stock Up 3.0%

TT stock opened at $449.97 on Friday. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $450.26. The company has a market cap of $100.35 billion, a P/E ratio of 37.43, a P/E/G ratio of 2.84 and a beta of 1.15. The company has a current ratio of 1.09, a quick ratio of 0.74 and a debt-to-equity ratio of 0.52. The company's 50-day moving average price is $428.78 and its 200 day moving average price is $382.96.

Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $4.69 billion for 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 quarterly revenue was up 11.2% compared to the same quarter last year. During the same period last year, the firm posted $1.94 EPS. On average, research analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be paid a dividend of $0.94 per share. The ex-dividend date is Friday, September 5th. This represents a $3.76 dividend on an annualized basis and a yield of 0.84%. Trane Technologies's payout ratio is 31.28%.

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.

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