Trane Technologies plc (NYSE:TT) Stake Raised by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 14.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,214 shares of the company's stock after purchasing an additional 5,444 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Trane Technologies were worth $15,961,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Minot DeBlois Advisors LLC purchased a new stake in Trane Technologies in the 4th quarter valued at about $26,000. Vermillion & White Wealth Management Group LLC purchased a new position in Trane Technologies during the 4th quarter worth $28,000. Sound Income Strategies LLC raised its position in Trane Technologies by 1,314.3% during the 4th quarter. Sound Income Strategies LLC now owns 99 shares of the company's stock valued at $37,000 after purchasing an additional 92 shares in the last quarter. Flagship Wealth Advisors LLC purchased a new stake in shares of Trane Technologies in the 4th quarter worth $37,000. Finally, Golden State Wealth Management LLC bought a new position in shares of Trane Technologies during the 4th quarter worth $39,000. Institutional investors own 82.97% of the company's stock.

Insider Buying and Selling

In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of the company's stock in a transaction that occurred on 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 sale, the insider now directly owns 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 document filed with the SEC, which is available at this hyperlink. 0.38% of the stock is owned by corporate insiders.

Trane Technologies Trading Up 2.5%

Shares of TT traded up $10.67 during midday trading on Tuesday, hitting $433.96. 454,825 shares of the stock were exchanged, compared to its average volume of 1,351,290. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21. The firm has a market cap of $96.78 billion, a P/E ratio of 38.58, a P/E/G ratio of 2.50 and a beta of 1.14. The stock has a fifty day simple moving average of $367.75 and a 200 day simple moving average of $374.96. Trane Technologies plc has a 52-week low of $298.15 and a 52-week high of $434.04.

Trane Technologies (NYSE:TT - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $0.25. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. The business had revenue of $4.69 billion for the quarter, compared to analysts' expectations of $4.46 billion. During the same period last year, the firm earned $1.94 earnings per share. The company's revenue for the quarter was up 11.2% compared to the same quarter last year. On average, research analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend is Friday, June 6th. Trane Technologies's dividend payout ratio is presently 31.28%.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Royal Bank of Canada raised their target price on shares of Trane Technologies from $363.00 to $408.00 and gave the company a "sector perform" rating in a research report on Thursday, May 1st. Stephens upgraded Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 price target for the company in a research note on Thursday, May 1st. HSBC upgraded Trane Technologies from a "hold" rating to a "buy" rating and boosted their price target for the stock from $405.00 to $415.00 in a research note on Friday, April 25th. UBS Group boosted their target price 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. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Trane Technologies from $334.00 to $400.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. One 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 company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $427.47.

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.