Novem Group Purchases New Shares in Trane Technologies plc (NYSE:TT)

Novem Group acquired a new position in shares of Trane Technologies plc (NYSE:TT - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 611 shares of the company's stock, valued at approximately $226,000.

Other institutional investors have also added to or reduced their stakes in the company. Secured Retirement Advisors LLC raised its holdings in shares of Trane Technologies by 0.6% in the 4th quarter. Secured Retirement Advisors LLC now owns 4,628 shares of the company's stock valued at $1,709,000 after acquiring an additional 28 shares in the last quarter. Catalina Capital Group LLC raised its holdings in shares of Trane Technologies by 3.2% in the 4th quarter. Catalina Capital Group LLC now owns 924 shares of the company's stock valued at $341,000 after acquiring an additional 29 shares in the last quarter. Stratos Wealth Partners LTD. raised its holdings in shares of Trane Technologies by 0.5% in the 4th quarter. Stratos Wealth Partners LTD. now owns 5,538 shares of the company's stock valued at $2,046,000 after acquiring an additional 29 shares in the last quarter. Kanawha Capital Management LLC raised its holdings in shares of Trane Technologies by 0.6% in the 4th quarter. Kanawha Capital Management LLC now owns 4,712 shares of the company's stock valued at $1,740,000 after acquiring an additional 29 shares in the last quarter. Finally, Kestra Private Wealth Services LLC raised its holdings in shares of Trane Technologies by 0.3% in the 4th quarter. Kestra Private Wealth Services LLC now owns 9,173 shares of the company's stock valued at $3,388,000 after acquiring an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

Analysts Set New Price Targets

TT has been the topic of several recent analyst reports. HSBC raised Trane Technologies from a "hold" rating to a "buy" rating and raised their price target for the company from $405.00 to $415.00 in a report on Friday, April 25th. JPMorgan Chase & Co. raised their price objective on Trane Technologies from $334.00 to $400.00 and gave the company a "neutral" rating in a report on Friday, May 16th. UBS Group raised their price objective on Trane Technologies from $470.00 to $500.00 and gave the company a "buy" rating in a report on Thursday, May 22nd. Wells Fargo & Company raised their price objective on Trane Technologies from $330.00 to $370.00 and gave the company an "underweight" 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 objective on the stock in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $427.47.

Insider Transactions at Trane Technologies

In other 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 value of $1,356,980.00. Following the sale, the insider now directly owns 3,593 shares in the company, valued at approximately $1,365,340. This trade represents a 49.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.38% of the company's stock.

Trane Technologies Trading Down 0.2%

Trane Technologies stock traded down $0.88 during trading hours on Thursday, reaching $432.07. The company had a trading volume of 282,570 shares, compared to its average volume of 1,350,232. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88. The company has a 50-day moving average price of $371.20 and a 200 day moving average price of $375.78. The firm has a market cap of $96.36 billion, a price-to-earnings ratio of 38.41, a P/E/G ratio of 2.50 and a beta of 1.14. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $447.61.

Trane Technologies (NYSE:TT - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $2.45 EPS for the quarter, topping analysts' consensus estimates of $2.20 by $0.25. The business had revenue of $4.69 billion for the quarter, compared to analysts' expectations of $4.46 billion. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. The business's quarterly revenue was up 11.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.94 EPS. Equities analysts forecast 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 Monday, June 30th. Stockholders of record on Friday, June 6th will be given a $0.94 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.87%. Trane Technologies's dividend payout ratio is currently 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.