Machina Capital S.A.S. Boosts Stake in Trane Technologies plc (NYSE:TT)

Machina Capital S.A.S. lifted its position in Trane Technologies plc (NYSE:TT - Free Report) by 6.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,978 shares of the company's stock after acquiring an additional 546 shares during the period. Trane Technologies accounts for approximately 0.9% of Machina Capital S.A.S.'s investment portfolio, making the stock its 18th biggest holding. Machina Capital S.A.S.'s holdings in Trane Technologies were worth $3,025,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pinnacle Associates Ltd. boosted its position in Trane Technologies by 0.6% in the first quarter. Pinnacle Associates Ltd. now owns 11,820 shares of the company's stock valued at $3,982,000 after buying an additional 76 shares during the last quarter. Dorsey Wright & Associates grew its position in shares of Trane Technologies by 8.9% in the first quarter. Dorsey Wright & Associates now owns 16,086 shares of the company's stock valued at $5,420,000 after purchasing an additional 1,310 shares during the period. Wakefield Asset Management LLLP increased its position in shares of Trane Technologies by 11.6% during the first quarter. Wakefield Asset Management LLLP now owns 12,488 shares of the company's stock worth $4,207,000 after purchasing an additional 1,302 shares in the last quarter. Convergence Investment Partners LLC raised its holdings in Trane Technologies by 431.3% in the 1st quarter. Convergence Investment Partners LLC now owns 3,225 shares of the company's stock valued at $1,086,000 after acquiring an additional 2,618 shares during the last quarter. Finally, SYM FINANCIAL Corp purchased a new position in shares of Trane Technologies during the 1st quarter worth $446,000. Hedge funds and other institutional investors own 82.97% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on TT shares. Hsbc Global Res upgraded Trane Technologies from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 25th. Barclays lifted their target price on shares of Trane Technologies from $476.00 to $480.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 9th. Royal Bank Of Canada increased their price target on Trane Technologies from $363.00 to $408.00 and gave the company a "sector perform" rating in a report on Thursday, May 1st. Citigroup increased their price objective on shares of Trane Technologies from $445.00 to $502.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. Finally, Wells Fargo & Company raised their target price on Trane Technologies from $370.00 to $410.00 and gave the company an "underweight" rating in a research note on Tuesday, July 1st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $441.40.

Insider Buying and Selling

In other news, insider Donald E. Simmons sold 3,571 shares of the business's stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $380.00, for a total value of $1,356,980.00. Following the transaction, the insider owned 3,593 shares of the company's stock, valued at approximately $1,365,340. The trade was a 49.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.38% of the stock is currently owned by insiders.

Trane Technologies Price Performance

Trane Technologies stock traded up $10.70 during midday trading on Friday, reaching $472.43. 1,195,032 shares of the stock were exchanged, compared to its average volume of 1,151,485. The company's fifty day moving average is $433.17 and its 200-day moving average is $386.23. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $473.13. The firm has a market cap of $105.36 billion, a PE ratio of 39.30, a PEG ratio of 3.07 and a beta of 1.15. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.74 and a current ratio of 1.09.

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 the consensus estimate of $2.20 by $0.25. The firm 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%. The company's quarterly revenue was up 11.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.94 earnings per share. On average, sell-side analysts forecast that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Announces Dividend

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

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.