Massachusetts Financial Services Co. MA Has $699.70 Million Position in Trane Technologies plc (NYSE:TT)

Massachusetts Financial Services Co. MA boosted its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 12.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,076,761 shares of the company's stock after purchasing an additional 237,905 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.93% of Trane Technologies worth $699,702,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. WFA Asset Management Corp grew its stake in Trane Technologies by 208.3% in the first quarter. WFA Asset Management Corp now owns 74 shares of the company's stock valued at $25,000 after acquiring an additional 50 shares during the period. Minot DeBlois Advisors LLC acquired a new position in shares of Trane Technologies in the fourth quarter valued at approximately $26,000. Vermillion & White Wealth Management Group LLC acquired a new position in shares of Trane Technologies in the fourth quarter valued at approximately $28,000. Opal Wealth Advisors LLC acquired a new position in shares of Trane Technologies in the first quarter valued at approximately $31,000. Finally, Bogart Wealth LLC boosted its holdings in shares of Trane Technologies by 97.9% in the first quarter. Bogart Wealth LLC now owns 93 shares of the company's stock valued at $31,000 after buying an additional 46 shares during the period. Institutional investors and hedge funds own 82.97% of the company's stock.

Wall Street Analysts Forecast Growth

TT has been the subject of several recent research reports. Barclays upped their price objective on Trane Technologies from $476.00 to $480.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 9th. The Goldman Sachs Group increased their target price on shares of Trane Technologies from $416.00 to $460.00 and gave the stock a "neutral" rating in a report on Tuesday, July 8th. JPMorgan Chase & Co. increased their target price on shares of Trane Technologies from $334.00 to $400.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Royal Bank Of Canada increased their target price on shares of Trane Technologies from $363.00 to $408.00 and gave the stock a "sector perform" rating in a report on Thursday, May 1st. Finally, Stephens raised Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 price target for the company in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $437.80.

Trane Technologies Stock Performance

TT opened at $438.77 on Tuesday. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $440.86. The stock has a market cap of $97.86 billion, a price-to-earnings ratio of 36.50, a PEG ratio of 2.85 and a beta of 1.15. The business has a 50 day moving average of $426.71 and a 200-day moving average of $381.65. The company has a quick ratio of 0.74, a current ratio of 1.09 and a debt-to-equity ratio of 0.52.

Trane Technologies (NYSE:TT - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $2.45 EPS for the quarter, topping the consensus estimate of $2.20 by $0.25. The business 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%. Trane Technologies's revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.94 EPS. On average, equities research analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be paid a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend is Friday, September 5th. Trane Technologies's dividend payout ratio (DPR) is 31.28%.

Insiders Place Their Bets

In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of Trane Technologies stock in a transaction dated 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 completion of the sale, the insider owned 3,593 shares in the company, valued at $1,365,340. The trade was a 49.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.38% of the stock is owned by company insiders.

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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