UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Raises Stake in Trane Technologies plc (NYSE:TT)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Trane Technologies plc (NYSE:TT - Free Report) by 8.3% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 2,319,287 shares of the company's stock after buying an additional 177,206 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 1.03% of Trane Technologies worth $856,629,000 at the end of the most recent reporting period.

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

Insider Buying and Selling

In other news, insider Donald E. Simmons sold 3,571 shares of the business's 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 completion of the transaction, the insider now directly owns 3,593 shares in the company, valued at approximately $1,365,340. The trade was a 49.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.38% of the stock is owned by company insiders.

Trane Technologies Stock Up 0.4%

Shares of NYSE:TT opened at $431.02 on Tuesday. The company's fifty day moving average is $359.88 and its two-hundred day moving average is $373.83. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21. Trane Technologies plc has a 1-year low of $298.15 and a 1-year high of $431.69. The stock has a market capitalization of $96.13 billion, a price-to-earnings ratio of 38.31, a price-to-earnings-growth ratio of 2.50 and a beta of 1.14.

Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $2.45 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $4.46 billion. During the same quarter in the prior year, the business earned $1.94 earnings per share. Trane Technologies's quarterly revenue was up 11.2% on a year-over-year basis. Equities analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be given a dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.76 dividend on an annualized basis and a yield of 0.87%. Trane Technologies's dividend payout ratio is currently 31.28%.

Analysts Set New Price Targets

TT has been the subject of several recent analyst reports. Citigroup raised their target price on Trane Technologies from $415.00 to $445.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Hsbc Global Res raised Trane Technologies from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. Wells Fargo & Company lifted their price objective on Trane Technologies from $330.00 to $370.00 and gave the stock an "underweight" rating in a report on Thursday, May 1st. JPMorgan Chase & Co. upped their target price on Trane Technologies from $334.00 to $400.00 and gave the company a "neutral" rating in a research report on Friday. Finally, Barclays decreased their price target on shares of Trane Technologies from $500.00 to $475.00 and set an "overweight" rating for the company in a research report on Monday, March 10th. One equities 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 given a strong buy rating to the company's stock. According to data from MarketBeat, Trane Technologies presently has a consensus rating of "Moderate Buy" and a consensus target price of $425.47.

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.

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