Northern Trust Corp Acquires 429,953 Shares of Trane Technologies plc (NYSE:TT)

Northern Trust Corp raised its position in Trane Technologies plc (NYSE:TT - Free Report) by 20.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,567,527 shares of the company's stock after acquiring an additional 429,953 shares during the quarter. Northern Trust Corp owned 1.14% of Trane Technologies worth $948,316,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Global Wealth Strategies & Associates acquired a new stake in shares of Trane Technologies during the fourth quarter worth approximately $26,000. Sound Income Strategies LLC boosted its holdings in Trane Technologies by 1,314.3% in the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company's stock worth $37,000 after purchasing an additional 92 shares during the period. Flagship Wealth Advisors LLC acquired a new position in Trane Technologies in the fourth quarter worth $37,000. Golden State Wealth Management LLC acquired a new position in Trane Technologies in the fourth quarter worth $39,000. Finally, BankPlus Trust Department acquired a new position in Trane Technologies in the fourth quarter worth $45,000. Institutional investors and hedge funds own 82.97% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on TT. JPMorgan Chase & Co. lifted their price objective on shares of Trane Technologies from $323.00 to $334.00 and gave the stock a "neutral" rating in a report on Thursday. 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. Stephens raised shares of Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 price objective on the stock in a report on Thursday. HSBC upgraded shares of Trane Technologies from a "hold" rating to a "buy" rating and upped their target price for the stock from $405.00 to $415.00 in a research report on Friday, April 25th. Finally, Wells Fargo & Company raised their price target on shares of Trane Technologies from $330.00 to $370.00 and gave the company an "underweight" rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Trane Technologies currently has an average rating of "Moderate Buy" and an average price target of $417.25.

Trane Technologies Price Performance

NYSE:TT traded up $9.72 during trading hours on Thursday, reaching $393.03. 2,106,758 shares of the company's stock were exchanged, compared to its average volume of 1,317,035. The company has a market capitalization of $88.15 billion, a P/E ratio of 34.94, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08. Trane Technologies plc has a 12 month low of $298.15 and a 12 month high of $422.00. 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's 50-day simple moving average is $343.25 and its two-hundred day simple moving average is $372.19.

Trane Technologies (NYSE:TT - Get Free Report) last issued its 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 firm had revenue of $4.69 billion during the quarter, compared to analysts' expectations of $4.46 billion. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. The firm's revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period last year, the firm posted $1.94 earnings per share. Sell-side analysts expect that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be given a $0.94 dividend. The ex-dividend date is Friday, June 6th. This represents a $3.76 dividend on an annualized basis and a yield of 0.96%. Trane Technologies's payout ratio is 33.42%.

Insiders Place Their Bets

In other news, CFO Christopher J. Kuehn sold 770 shares of the firm's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $358.39, for a total transaction of $275,960.30. Following the transaction, the chief financial officer now owns 62,221 shares in the company, valued at approximately $22,299,384.19. This trade represents a 1.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Donald E. Simmons sold 3,571 shares of the firm'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 transaction, the insider now owns 3,593 shares in the company, valued at $1,365,340. This represents a 49.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,805 shares of company stock worth $3,945,082 in the last quarter. 0.38% of the stock is currently owned by corporate insiders.

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.