NorthRock Partners LLC Purchases 1,413 Shares of Trane Technologies plc (NYSE:TT)

NorthRock Partners LLC raised its holdings in shares of Trane Technologies plc (NYSE:TT - Free Report) by 244.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,990 shares of the company's stock after acquiring an additional 1,413 shares during the quarter. NorthRock Partners LLC's holdings in Trane Technologies were worth $735,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TT. Vanguard Group Inc. grew its stake in shares of Trane Technologies by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 19,235,570 shares of the company's stock valued at $7,104,658,000 after buying an additional 152,353 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Trane Technologies by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 4,775,263 shares of the company's stock valued at $1,760,549,000 after acquiring an additional 136,349 shares during the period. Ameriprise Financial Inc. increased its stake in shares of Trane Technologies by 4.1% during the 4th quarter. Ameriprise Financial Inc. now owns 3,343,390 shares of the company's stock worth $1,234,908,000 after purchasing an additional 130,867 shares during the last quarter. Norges Bank bought a new stake in shares of Trane Technologies in the 4th quarter valued at about $1,117,816,000. Finally, Northern Trust Corp grew its holdings in Trane Technologies by 20.1% during the fourth quarter. Northern Trust Corp now owns 2,567,527 shares of the company's stock worth $948,316,000 after purchasing an additional 429,953 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on the company. HSBC upgraded Trane Technologies from a "hold" rating to a "buy" rating and lifted their target price for the stock from $405.00 to $415.00 in a research note 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. Citigroup lifted their price target on Trane Technologies from $415.00 to $445.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Wells Fargo & Company increased their price objective on Trane Technologies from $330.00 to $370.00 and gave the stock an "underweight" rating in a research report on Thursday, May 1st. Finally, Barclays decreased their price target on shares of Trane Technologies from $500.00 to $475.00 and set an "overweight" rating on the stock in a research note on Monday, March 10th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $425.47.

Trane Technologies Trading Up 0.6%

Shares of NYSE:TT traded up $2.44 during midday trading on Wednesday, hitting $432.24. 355,662 shares of the stock were exchanged, compared to its average volume of 1,343,612. The business's 50-day moving average price is $361.71 and its 200 day moving average price is $374.22. Trane Technologies plc has a 12 month low of $298.15 and a 12 month high of $433.49. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21. The stock has a market capitalization of $96.40 billion, a price-to-earnings ratio of 38.42, a P/E/G ratio of 2.50 and a beta of 1.14.

Trane Technologies (NYSE:TT - Get Free Report) last released 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 firm had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.46 billion. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. The company's revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.94 earnings per share. Analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be paid a $0.94 dividend. The ex-dividend date is Friday, June 6th. This represents a $3.76 annualized dividend and a dividend yield of 0.87%. Trane Technologies's payout ratio is 31.28%.

Insider Transactions at Trane Technologies

In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of the stock in a transaction dated 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 sale, the insider now directly owns 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 legal filing with the SEC, which is accessible through this link. 0.38% of the stock is 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.