Novem Group Makes New Investment in Trane Technologies plc (NYSE:TT)

Novem Group purchased a new stake in Trane Technologies plc (NYSE:TT - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 611 shares of the company's stock, valued at approximately $226,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Minot DeBlois Advisors LLC acquired a new stake in Trane Technologies in the fourth quarter valued at $26,000. Vermillion & White Wealth Management Group LLC purchased a new stake in Trane Technologies during the fourth quarter worth about $28,000. Sound Income Strategies LLC grew its position in Trane Technologies by 1,314.3% during the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company's stock worth $37,000 after buying an additional 92 shares during the period. Flagship Wealth Advisors LLC purchased a new position in Trane Technologies in the fourth quarter valued at about $37,000. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Trane Technologies during the 4th quarter valued at approximately $39,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TT has been the topic of several research reports. HSBC raised Trane Technologies from a "hold" rating to a "buy" rating and upped their target price for the company from $405.00 to $415.00 in a report on Friday, April 25th. Royal Bank of Canada raised their target price on shares of Trane Technologies from $363.00 to $408.00 and gave the company a "sector perform" rating in a report on Thursday, May 1st. UBS Group upped their price target on shares of Trane Technologies from $470.00 to $500.00 and gave the company a "buy" rating in a report on Thursday, May 22nd. Melius cut shares of Trane Technologies from a "buy" rating to a "hold" rating and set a $398.00 price objective for the company. in a research note on Tuesday, January 28th. Finally, Robert W. Baird lifted their price objective on Trane Technologies from $360.00 to $396.00 and gave the stock a "neutral" rating in a research report on Thursday, May 1st. One 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 issued a strong buy rating to the company's stock. According to MarketBeat.com, Trane Technologies currently has a consensus rating of "Moderate Buy" and a consensus target price of $427.47.

Trane Technologies Trading Down 0.8%

TT stock traded down $3.66 during trading on Wednesday, reaching $432.61. 1,027,714 shares of the stock traded hands, compared to its average volume of 1,353,453. The business's 50 day moving average price is $369.49 and its 200-day moving average price is $375.38. The firm has a market capitalization of $96.48 billion, a PE ratio of 38.45, a P/E/G ratio of 2.50 and a beta of 1.14. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88. Trane Technologies plc has a 52-week low of $298.15 and a 52-week high of $439.29.

Trane Technologies (NYSE:TT - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share for the quarter, topping analysts' consensus estimates of $2.20 by $0.25. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. The firm had revenue of $4.69 billion during the quarter, compared to analysts' expectations of $4.46 billion. During the same period in the prior year, the company earned $1.94 EPS. The firm's revenue was up 11.2% on a year-over-year basis. As a group, sell-side analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be paid a $0.94 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.76 annualized dividend and a dividend yield of 0.87%. Trane Technologies's dividend payout ratio (DPR) is presently 31.28%.

Insider Activity at Trane Technologies

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

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.