Ninety One SA PTY Ltd Has $432,000 Stock Holdings in Trane Technologies plc (NYSE:TT)

Ninety One SA PTY Ltd raised its holdings in Trane Technologies plc (NYSE:TT - Free Report) by 113.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,297 shares of the company's stock after buying an additional 690 shares during the quarter. Ninety One SA PTY Ltd's holdings in Trane Technologies were worth $432,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of TT. Brighton Jones LLC grew its holdings in shares of Trane Technologies by 60.0% in 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. Proficio Capital Partners LLC grew its holdings in shares of Trane Technologies by 28.3% in 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 last quarter. Edgestream Partners L.P. grew its holdings in shares of Trane Technologies by 86.5% in the 4th quarter. Edgestream Partners L.P. now owns 2,490 shares of the company's stock worth $920,000 after purchasing an additional 1,155 shares during the last quarter. Larson Financial Group LLC grew its holdings in shares of Trane Technologies by 10.5% in the 4th quarter. Larson Financial Group LLC now owns 1,297 shares of the company's stock worth $479,000 after purchasing an additional 123 shares during the last quarter. Finally, Sound View Wealth Advisors Group LLC bought a new stake in shares of Trane Technologies in the 4th quarter worth about $225,000. Institutional investors own 82.97% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TT. Hsbc Global Res raised shares of Trane Technologies from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. Stephens raised shares of Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 price objective on the stock in a report on Thursday, May 1st. The Goldman Sachs Group increased their price objective on shares of Trane Technologies from $416.00 to $460.00 and gave the stock a "neutral" rating in a report on Tuesday. Wells Fargo & Company increased their price objective on shares of Trane Technologies from $370.00 to $410.00 and gave the stock an "underweight" rating in a report on Tuesday, July 1st. Finally, UBS Group increased their price objective on shares of Trane Technologies from $470.00 to $500.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $434.00.

Trane Technologies Trading Up 0.7%

Shares of NYSE TT traded up $2.86 during mid-day trading on Friday, hitting $437.39. The company's stock had a trading volume of 944,543 shares, compared to its average volume of 1,334,971. The stock has a market cap of $97.55 billion, a price-to-earnings ratio of 36.39, a price-to-earnings-growth ratio of 2.83 and a beta of 1.15. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.09 and a quick ratio of 0.74. Trane Technologies plc has a one year low of $298.15 and a one year high of $445.61. The company's fifty day simple moving average is $425.99 and its 200-day simple moving average is $381.17.

Trane Technologies (NYSE:TT - Get Free Report) last issued its earnings results 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. The company had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.46 billion. Trane Technologies had a net margin of 13.47% and a return on equity of 36.10%. The company's revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.94 EPS. On average, sell-side analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

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

Insider Activity

In related news, insider Donald E. Simmons sold 3,571 shares of the stock in a transaction that occurred 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 sale, the insider directly owned 3,593 shares in the company, valued at $1,365,340. This trade represents a 49.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company 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.