Platform Technology Partners increased its holdings in shares of Trane Technologies plc (NYSE:TT - Free Report) by 80.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,713 shares of the company's stock after buying an additional 1,207 shares during the period. Platform Technology Partners' holdings in Trane Technologies were worth $914,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Trane Technologies by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 19,235,570 shares of the company's stock worth $7,104,658,000 after purchasing an additional 152,353 shares during the last quarter. Geode Capital Management LLC raised its holdings in Trane Technologies by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 4,775,263 shares of the company's stock worth $1,760,549,000 after purchasing an additional 136,349 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in Trane Technologies by 4.1% during the 4th quarter. Ameriprise Financial Inc. now owns 3,343,390 shares of the company's stock worth $1,234,908,000 after purchasing an additional 130,867 shares during the last quarter. Norges Bank bought a new position in Trane Technologies during the 4th quarter worth approximately $1,117,816,000. Finally, Northern Trust Corp raised its holdings in Trane Technologies by 20.1% during the 4th quarter. Northern Trust Corp now owns 2,567,527 shares of the company's stock worth $948,316,000 after purchasing an additional 429,953 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
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 transaction of $1,356,980.00. Following the sale, the insider directly owned 3,593 shares of the company's stock, valued at $1,365,340. This represents a 49.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.38% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
TT has been the subject of a number of recent research reports. Stephens upgraded shares of Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 price target for the company in a research note on Thursday, May 1st. UBS Group boosted their price target on shares of Trane Technologies from $470.00 to $500.00 and gave the company a "buy" rating in a research note on Thursday, May 22nd. Robert W. Baird boosted their price target on shares of Trane Technologies from $360.00 to $396.00 and gave the company a "neutral" rating in a research note on Thursday, May 1st. HSBC raised shares of Trane Technologies from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $405.00 to $415.00 in a report on Friday, April 25th. Finally, Royal Bank Of Canada lifted their price objective on shares of Trane Technologies from $363.00 to $408.00 and gave the stock a "sector perform" rating in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $434.00.
Check Out Our Latest Research Report on TT
Trane Technologies Price Performance
Shares of NYSE:TT opened at $437.39 on Friday. The company's 50-day moving average is $425.99 and its 200 day moving average is $381.17. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.74 and a current ratio of 1.09. The company has a market capitalization of $97.55 billion, a P/E ratio of 36.39, a price-to-earnings-growth ratio of 2.83 and a beta of 1.15. Trane Technologies plc has a fifty-two week low of $298.15 and a fifty-two week high of $438.95.
Trane Technologies (NYSE:TT - Get Free Report) last issued 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. The company had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.46 billion. Trane Technologies had a net margin of 13.47% and a return on equity of 36.10%. The firm'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. On average, equities research 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 Tuesday, September 30th. Shareholders of record on Friday, September 5th will be issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a 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%.
Trane Technologies Company Profile
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Free Report)
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.
Further Reading
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