Trane Technologies plc $TT is Eventide Asset Management LLC's 4th Largest Position

Eventide Asset Management LLC increased its holdings in Trane Technologies plc (NYSE:TT - Free Report) by 1.2% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 403,274 shares of the company's stock after acquiring an additional 4,753 shares during the period. Trane Technologies makes up about 2.5% of Eventide Asset Management LLC's holdings, making the stock its 4th largest holding. Eventide Asset Management LLC owned approximately 0.18% of Trane Technologies worth $157,023,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in TT. Brighton Jones LLC boosted its position in shares of Trane Technologies by 60.0% during the fourth quarter. Brighton Jones LLC now owns 6,194 shares of the company's stock worth $2,288,000 after buying an additional 2,323 shares during the period. Sivia Capital Partners LLC raised its stake in shares of Trane Technologies by 22.4% in the second quarter. Sivia Capital Partners LLC now owns 1,665 shares of the company's stock valued at $728,000 after acquiring an additional 305 shares in the last quarter. Schnieders Capital Management LLC. acquired a new stake in shares of Trane Technologies in the second quarter valued at $227,000. Nebula Research & Development LLC raised its stake in shares of Trane Technologies by 178.0% in the second quarter. Nebula Research & Development LLC now owns 2,371 shares of the company's stock valued at $1,037,000 after acquiring an additional 1,518 shares in the last quarter. Finally, Treasurer of the State of North Carolina raised its stake in shares of Trane Technologies by 0.5% in the second quarter. Treasurer of the State of North Carolina now owns 104,140 shares of the company's stock valued at $45,552,000 after acquiring an additional 497 shares in the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TT. KeyCorp increased their price objective on Trane Technologies from $525.00 to $555.00 and gave the company an "overweight" rating in a research note on Friday, May 1st. BNP Paribas Exane began coverage on Trane Technologies in a research note on Tuesday, April 14th. They issued an "outperform" rating and a $550.00 price objective on the stock. Sanford C. Bernstein began coverage on Trane Technologies in a research note on Tuesday. They issued an "outperform" rating and a $550.00 price objective on the stock. Barclays increased their price objective on Trane Technologies from $507.00 to $585.00 and gave the company an "overweight" rating in a research note on Friday, May 1st. Finally, Evercore began coverage on Trane Technologies in a research note on Monday, April 13th. They issued an "outperform" rating and a $535.00 price objective on the stock. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $509.12.

Insiders Place Their Bets

In other Trane Technologies news, CFO Christopher J. Kuehn sold 8,619 shares of the firm's stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $450.00, for a total transaction of $3,878,550.00. Following the transaction, the chief financial officer owned 60,576 shares of the company's stock, valued at approximately $27,259,200. This trade represents a 12.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Donald E. Simmons sold 4,593 shares of the firm's stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $500.00, for a total value of $2,296,500.00. Following the transaction, the insider directly owned 3,819 shares in the company, valued at approximately $1,909,500. The trade was a 54.60% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is owned by company insiders.

Trane Technologies Stock Down 0.5%

Trane Technologies stock opened at $457.69 on Friday. Trane Technologies plc has a 1-year low of $348.06 and a 1-year high of $503.47. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.10 and a quick ratio of 0.77. The stock has a market cap of $101.17 billion, a PE ratio of 35.40, a P/E/G ratio of 2.11 and a beta of 1.20. The stock's fifty day moving average is $463.44 and its two-hundred day moving average is $433.14.

Trane Technologies (NYSE:TT - Get Free Report) last posted its quarterly earnings results on Friday, May 1st. The company reported $2.63 earnings per share for the quarter, beating analysts' consensus estimates of $2.53 by $0.10. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The company had revenue of $4.97 billion for the quarter, compared to analysts' expectations of $4.81 billion. During the same period last year, the firm earned $2.45 earnings per share. Trane Technologies's quarterly revenue was up 6.0% on a year-over-year basis. On average, sell-side analysts expect that Trane Technologies plc will post 14.88 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, September 4th will be paid a $1.05 dividend. The ex-dividend date is Friday, September 4th. This represents a $4.20 dividend on an annualized basis and a yield of 0.9%. Trane Technologies's dividend payout ratio (DPR) is currently 32.48%.

About Trane Technologies

Trane Technologies NYSE: TT is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.

Want to see what other hedge funds are holding TT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Trane Technologies plc (NYSE:TT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.