Walter Public Investments Inc. Raises Stake in Trane Technologies plc (NYSE:TT)

Walter Public Investments Inc. raised its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 5.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 53,646 shares of the company's stock after buying an additional 2,759 shares during the period. Trane Technologies comprises about 3.4% of Walter Public Investments Inc.'s investment portfolio, making the stock its 13th biggest holding. Walter Public Investments Inc.'s holdings in Trane Technologies were worth $18,074,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Norges Bank acquired a new stake in shares of Trane Technologies in the fourth quarter worth $1,117,816,000. GAMMA Investing LLC boosted its position in Trane Technologies by 35,458.2% in the first quarter. GAMMA Investing LLC now owns 2,015,792 shares of the company's stock valued at $679,161,000 after buying an additional 2,010,123 shares in the last quarter. Northern Trust Corp increased 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 valued at $948,316,000 after purchasing an additional 429,953 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Trane Technologies during the 4th quarter worth about $147,251,000. Finally, BNP Paribas Financial Markets acquired a new stake in shares of Trane Technologies in the fourth quarter valued at approximately $137,999,000. Institutional investors and hedge funds own 82.97% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Royal Bank Of Canada lifted their price target on shares of Trane Technologies from $363.00 to $408.00 and gave the stock a "sector perform" rating in a research report on Thursday, May 1st. Robert W. Baird raised their price objective on shares of Trane Technologies from $360.00 to $396.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. The Goldman Sachs Group lifted their price objective on shares of Trane Technologies from $416.00 to $460.00 and gave the company a "neutral" rating in a report on Tuesday. Stephens raised Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 price target on the stock in a research report on Thursday, May 1st. Finally, Wells Fargo & Company increased their price target on shares of Trane Technologies from $370.00 to $410.00 and gave the company an "underweight" rating in a research note on Tuesday, July 1st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $434.00.

Insider Activity at Trane Technologies

In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of the 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 sale, the insider directly owned 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 document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.38% of the company's stock.

Trane Technologies Price Performance

NYSE:TT traded up $4.16 during mid-day trading on Friday, hitting $438.69. 218,484 shares of the stock traded hands, compared to its average volume of 1,330,471. The company has a quick ratio of 0.74, a current ratio of 1.09 and a debt-to-equity ratio of 0.52. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $438.95. The company has a market cap of $97.84 billion, a PE ratio of 36.51, a price-to-earnings-growth ratio of 2.82 and a beta of 1.15. The business's 50-day moving average price is $425.24 and its 200 day moving average price is $380.77.

Trane Technologies (NYSE:TT - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $0.25. The business had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.46 billion. Trane Technologies had a net margin of 13.47% and a return on equity of 36.10%. The company's revenue was up 11.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.94 earnings per share. On average, analysts expect that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be issued a dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $3.76 annualized dividend and a dividend yield of 0.86%. Trane Technologies's payout ratio is 31.28%.

About Trane Technologies

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.