Keybank National Association OH Raises Stake in Trane Technologies plc (NYSE:TT)

Keybank National Association OH increased its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 11.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,018 shares of the company's stock after acquiring an additional 3,134 shares during the quarter. Keybank National Association OH's holdings in Trane Technologies were worth $10,451,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. CWA Asset Management Group LLC grew its position in shares of Trane Technologies by 19.2% during the first quarter. CWA Asset Management Group LLC now owns 1,135 shares of the company's stock worth $382,000 after acquiring an additional 183 shares during the last quarter. Ethic Inc. raised its position in Trane Technologies by 150.1% in the 4th quarter. Ethic Inc. now owns 24,883 shares of the company's stock valued at $9,190,000 after purchasing an additional 14,932 shares during the last quarter. Proficio Capital Partners LLC boosted its stake in Trane Technologies by 28.3% during the 4th quarter. Proficio Capital Partners LLC now owns 685 shares of the company's stock worth $253,000 after purchasing an additional 151 shares during the period. Brighton Jones LLC grew its position in Trane Technologies by 60.0% during the 4th quarter. Brighton Jones LLC now owns 6,194 shares of the company's stock worth $2,288,000 after purchasing an additional 2,323 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. increased its stake in Trane Technologies by 495.5% in the first quarter. Oppenheimer Asset Management Inc. now owns 4,252 shares of the company's stock valued at $1,433,000 after purchasing an additional 3,538 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Price Performance

TT traded up $6.93 during trading on Friday, reaching $439.64. 1,182,309 shares of the stock were exchanged, compared to its average volume of 1,333,717. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.09 and a quick ratio of 0.74. The company has a market capitalization of $98.05 billion, a price-to-earnings ratio of 36.58, a P/E/G ratio of 2.88 and a beta of 1.15. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $438.15. The business's 50 day moving average price is $420.30 and its two-hundred day moving average price is $379.26.

Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $2.45 EPS for the quarter, beating analysts' consensus estimates of $2.20 by $0.25. The firm had revenue of $4.69 billion for the quarter, compared to analysts' expectations of $4.46 billion. Trane Technologies had a net margin of 13.47% and a return on equity of 36.10%. The firm's revenue was up 11.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.94 EPS. As a group, equities research analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be given a dividend of $0.94 per share. The ex-dividend date is Friday, September 5th. This represents a $3.76 annualized dividend and a dividend yield of 0.86%. Trane Technologies's dividend payout ratio is currently 31.28%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TT. Stephens upgraded shares of Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 target price for the company in a research note on Thursday, May 1st. Citigroup upped their price objective on Trane Technologies from $415.00 to $445.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. UBS Group lifted their target price on Trane Technologies from $470.00 to $500.00 and gave the company a "buy" rating in a research note on Thursday, May 22nd. Barclays decreased their price target on Trane Technologies from $500.00 to $475.00 and set an "overweight" rating for the company in a report on Monday, March 10th. Finally, Wells Fargo & Company boosted their price objective on shares of Trane Technologies from $370.00 to $410.00 and gave the company an "underweight" rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Trane Technologies currently has an average rating of "Moderate Buy" and an average price target of $430.13.

Insider Transactions at Trane Technologies

In other Trane Technologies 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 transaction of $1,356,980.00. Following the completion of the transaction, the insider owned 3,593 shares of the company's stock, valued at approximately $1,365,340. This trade represents a 49.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.38% of the company's stock.

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.