Ninety One UK Ltd Grows Stake in Trane Technologies plc (NYSE:TT)

Ninety One UK Ltd lifted its holdings in shares of Trane Technologies plc (NYSE:TT - Free Report) by 9.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 795,797 shares of the company's stock after purchasing an additional 71,619 shares during the period. Ninety One UK Ltd owned 0.35% of Trane Technologies worth $268,120,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. Callan Capital LLC lifted its holdings in shares of Trane Technologies by 2.5% during the first quarter. Callan Capital LLC now owns 1,837 shares of the company's stock worth $619,000 after purchasing an additional 44 shares during the period. TD Private Client Wealth LLC lifted its holdings in Trane Technologies by 7.9% in the first quarter. TD Private Client Wealth LLC now owns 7,887 shares of the company's stock valued at $2,657,000 after buying an additional 577 shares during the period. Envestnet Asset Management Inc. lifted its holdings in Trane Technologies by 12.2% in the first quarter. Envestnet Asset Management Inc. now owns 334,751 shares of the company's stock valued at $112,784,000 after buying an additional 36,490 shares during the period. Concurrent Investment Advisors LLC raised its position in shares of Trane Technologies by 24.6% in the 1st quarter. Concurrent Investment Advisors LLC now owns 10,832 shares of the company's stock worth $3,649,000 after acquiring an additional 2,141 shares in the last quarter. Finally, HM Payson & Co. raised its position in shares of Trane Technologies by 8.7% in the 1st quarter. HM Payson & Co. now owns 10,083 shares of the company's stock worth $3,397,000 after acquiring an additional 811 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Insider Transactions at Trane Technologies

In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of the company's 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 directly owned 3,593 shares of the company's stock, valued at approximately $1,365,340. This represents a 49.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.38% of the company's stock.

Trane Technologies Stock Down 1.8%

Shares of NYSE:TT traded down $7.92 during midday trading on Tuesday, hitting $426.68. 1,128,616 shares of the company's stock were exchanged, compared to its average volume of 1,332,532. 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 stock has a 50 day moving average price of $421.95 and a 200-day moving average price of $379.68. The company has a market cap of $95.16 billion, a PE ratio of 35.50, a price-to-earnings-growth ratio of 2.88 and a beta of 1.15. Trane Technologies plc has a 12 month low of $298.15 and a 12 month high of $438.95.

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

Trane Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date of this dividend is Friday, September 5th. Trane Technologies's payout ratio is 31.28%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on TT shares. Barclays lowered their price objective on Trane Technologies from $500.00 to $475.00 and set an "overweight" rating for the company in a research report on Monday, March 10th. The Goldman Sachs Group lifted their price objective on Trane Technologies from $416.00 to $460.00 and gave the stock a "neutral" rating in a research report on Tuesday. Royal Bank Of Canada lifted their price objective on Trane Technologies from $363.00 to $408.00 and gave the stock a "sector perform" rating in a research report on Thursday, May 1st. Wells Fargo & Company lifted their price objective on Trane Technologies from $370.00 to $410.00 and gave the stock an "underweight" rating in a research report on Tuesday, July 1st. Finally, HSBC upgraded shares of Trane Technologies from a "hold" rating to a "buy" rating and upped their price objective for the company from $405.00 to $415.00 in a report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Trane Technologies has an average rating of "Moderate Buy" and an average target price of $433.67.

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.