Trane Technologies plc (NYSE:TT) Shares Purchased by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 14.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 43,214 shares of the company's stock after purchasing an additional 5,444 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Trane Technologies were worth $15,961,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Minot DeBlois Advisors LLC acquired a new position in shares of Trane Technologies during the fourth quarter worth approximately $26,000. Vermillion & White Wealth Management Group LLC bought a new stake in Trane Technologies during the fourth quarter worth $28,000. Sound Income Strategies LLC grew its holdings in Trane Technologies by 1,314.3% during the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company's stock worth $37,000 after buying an additional 92 shares in the last quarter. Flagship Wealth Advisors LLC bought a new position in Trane Technologies in the 4th quarter valued at $37,000. Finally, Golden State Wealth Management LLC bought a new position in Trane Technologies in the 4th quarter valued at $39,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on TT shares. Robert W. Baird upped their price objective on Trane Technologies from $360.00 to $396.00 and gave the company a "neutral" rating in a research note on Thursday, May 1st. Barclays cut their price target on Trane Technologies from $500.00 to $475.00 and set an "overweight" rating for the company in a research note on Monday, March 10th. JPMorgan Chase & Co. increased their price target on Trane Technologies from $334.00 to $400.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Royal Bank of Canada increased their price target on Trane Technologies from $363.00 to $408.00 and gave the stock a "sector perform" rating in a research note on Thursday, May 1st. Finally, 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. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Trane Technologies presently has an average rating of "Moderate Buy" and an average price target of $427.47.

Trane Technologies Stock Performance

Trane Technologies stock traded down $0.55 during mid-day trading on Friday, reaching $423.71. 1,033,578 shares of the stock traded hands, compared to its average volume of 1,354,784. The stock has a market capitalization of $94.50 billion, a PE ratio of 37.66, a price-to-earnings-growth ratio of 2.50 and a beta of 1.14. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $433.60. The business's 50-day moving average is $366.28 and its 200-day moving average is $375.01.

Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $2.45 earnings per share for the quarter, topping analysts' consensus estimates of $2.20 by $0.25. The firm had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.46 billion. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. The business's quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.94 earnings per share. As a group, sell-side analysts predict that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be issued a $0.94 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.76 annualized dividend and a dividend yield of 0.89%. Trane Technologies's payout ratio is 31.28%.

Insider Transactions at Trane Technologies

In other news, insider Donald E. Simmons sold 3,571 shares of the firm's stock in a transaction 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 owns 3,593 shares of the company's stock, valued at $1,365,340. This trade represents a 49.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.38% of the company's stock.

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.