Lazard Asset Management LLC Purchases 14,619 Shares of Trane Technologies plc (NYSE:TT)

Lazard Asset Management LLC increased its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 8.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 198,110 shares of the company's stock after acquiring an additional 14,619 shares during the quarter. Lazard Asset Management LLC owned 0.09% of Trane Technologies worth $73,170,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Sound Income Strategies LLC lifted its holdings in shares of Trane Technologies by 1,314.3% in the fourth 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 acquired a new position in Trane Technologies during the fourth quarter valued at $37,000. Golden State Wealth Management LLC purchased a new stake in Trane Technologies in the 4th quarter worth about $39,000. BankPlus Trust Department acquired a new stake in Trane Technologies during the 4th quarter worth about $45,000. Finally, Centricity Wealth Management LLC purchased a new position in Trane Technologies during the 4th quarter valued at about $55,000. Hedge funds and other institutional investors own 82.97% of the company's stock.

Insider Activity

In related news, insider Donald E. Simmons sold 3,571 shares of the company's stock in a transaction on 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 completion of the transaction, the insider now directly owns 3,593 shares in the company, valued at $1,365,340. This represents a 49.85% decrease in their position. 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 owned by company insiders.

Trane Technologies Stock Performance

TT stock traded up $6.85 during midday trading on Friday, hitting $429.20. 1,110,362 shares of the company traded hands, compared to its average volume of 1,345,751. Trane Technologies plc has a twelve month low of $298.15 and a twelve month high of $429.34. The stock has a market capitalization of $95.72 billion, a price-to-earnings ratio of 38.15, a price-to-earnings-growth ratio of 2.50 and a beta of 1.14. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. The business has a 50 day simple moving average of $356.17 and a 200-day simple moving average of $373.18.

Trane Technologies (NYSE:TT - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $2.45 EPS for the quarter, topping analysts' consensus estimates of $2.20 by $0.25. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. The business had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.46 billion. During the same period in the previous year, the company posted $1.94 earnings per share. The firm's revenue for the quarter was up 11.2% on a year-over-year basis. As a group, equities research analysts predict 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 Monday, June 30th. Stockholders of record on Friday, June 6th will be given a $0.94 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.76 annualized dividend and a dividend yield of 0.88%. Trane Technologies's dividend payout ratio is 31.28%.

Wall Street Analyst Weigh In

TT has been the subject of several research reports. Citigroup raised their price target on shares of Trane Technologies from $415.00 to $445.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. UBS Group decreased their target price on shares of Trane Technologies from $500.00 to $470.00 and set a "buy" rating for the company in a research note on Friday, January 31st. Hsbc Global Res upgraded shares of Trane Technologies from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. Stephens upgraded Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 price objective for the company in a report on Thursday, May 1st. Finally, JPMorgan Chase & Co. boosted their target price on Trane Technologies from $334.00 to $400.00 and gave the company a "neutral" rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $425.47.

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.