PharVision Advisers LLC Acquires New Shares in Trane Technologies plc (NYSE:TT)

PharVision Advisers LLC acquired a new position in shares of Trane Technologies plc (NYSE:TT - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,164 shares of the company's stock, valued at approximately $430,000.

A number of other large investors also recently modified their holdings of the business. Norges Bank bought a new position in shares of Trane Technologies in the fourth quarter valued at $1,117,816,000. Raymond James Financial Inc. acquired a new stake in Trane Technologies in the fourth quarter valued at $611,322,000. Northern Trust Corp raised its holdings in shares of Trane Technologies by 20.1% in the 4th quarter. Northern Trust Corp now owns 2,567,527 shares of the company's stock valued at $948,316,000 after purchasing an additional 429,953 shares during the period. BNP Paribas Financial Markets bought a new stake in shares of Trane Technologies in the 4th quarter valued at about $137,999,000. Finally, Bank Julius Baer & Co. Ltd Zurich raised its holdings in shares of Trane Technologies by 455.2% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 427,226 shares of the company's stock valued at $167,977,000 after purchasing an additional 350,277 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on TT. Citigroup boosted their price target on Trane Technologies from $415.00 to $445.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Melius downgraded Trane Technologies from a "buy" rating to a "hold" rating and set a $398.00 target price for the company. in a research note on Tuesday, January 28th. UBS Group lifted their target price on Trane Technologies from $470.00 to $500.00 and gave the stock a "buy" rating in a research note on Thursday. Melius Research reaffirmed a "hold" rating and set a $398.00 price target on shares of Trane Technologies in a report on Tuesday, January 28th. Finally, Robert W. Baird raised their price target on Trane Technologies from $360.00 to $396.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $427.47.

Insider Transactions at Trane Technologies

In other news, insider Donald E. Simmons sold 3,571 shares of the company's stock in a transaction 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 completion of the sale, the insider now directly owns 3,593 shares in the company, valued at approximately $1,365,340. This represents a 49.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.38% of the company's stock.

Trane Technologies Stock Performance

TT stock traded down $0.55 during trading hours on Friday, hitting $423.71. 1,033,578 shares of the stock were exchanged, compared to its average volume of 1,351,524. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $94.50 billion, a P/E ratio of 37.66, a P/E/G ratio of 2.50 and a beta of 1.14. The company has a 50-day simple moving average of $366.28 and a two-hundred day simple moving average of $375.13. Trane Technologies plc has a 12 month low of $298.15 and a 12 month high of $433.60.

Trane Technologies (NYSE:TT - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share (EPS) for the quarter, beating 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 company had revenue of $4.69 billion during the quarter, compared to analysts' expectations of $4.46 billion. During the same quarter in the previous year, the business posted $1.94 earnings per share. Trane Technologies's quarterly revenue was up 11.2% on a year-over-year basis. On average, analysts forecast 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 Monday, June 30th. Stockholders of record on Friday, June 6th will be issued a dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.76 annualized dividend and a dividend yield of 0.89%. Trane Technologies's dividend payout ratio is presently 31.28%.

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.