abrdn plc Acquires 76,205 Shares of Trane Technologies plc (NYSE:TT)

abrdn plc boosted its holdings in Trane Technologies plc (NYSE:TT - Free Report) by 7.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,062,543 shares of the company's stock after buying an additional 76,205 shares during the quarter. Trane Technologies accounts for about 0.6% of abrdn plc's investment portfolio, making the stock its 29th largest position. abrdn plc owned approximately 0.47% of Trane Technologies worth $259,154,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. BKM Wealth Management LLC purchased a new position in Trane Technologies during the 4th quarter worth approximately $25,000. Live Oak Investment Partners purchased a new position in Trane Technologies during the 4th quarter worth approximately $30,000. Venturi Wealth Management LLC grew its position in Trane Technologies by 139.7% during the 3rd quarter. Venturi Wealth Management LLC now owns 151 shares of the company's stock worth $31,000 after purchasing an additional 88 shares in the last quarter. 1832 Asset Management L.P. purchased a new position in Trane Technologies during the 1st quarter worth approximately $34,000. Finally, Avior Wealth Management LLC grew its position in Trane Technologies by 58.0% during the 3rd quarter. Avior Wealth Management LLC now owns 177 shares of the company's stock worth $36,000 after purchasing an additional 65 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on TT. Stephens boosted their price target on shares of Trane Technologies from $235.00 to $280.00 and gave the company an "equal weight" rating in a report on Tuesday, February 6th. The Goldman Sachs Group boosted their price target on shares of Trane Technologies from $253.00 to $287.00 and gave the company a "neutral" rating in a report on Monday, February 5th. Barclays lifted their price objective on shares of Trane Technologies from $286.00 to $325.00 and gave the company an "overweight" rating in a research note on Tuesday, April 2nd. Royal Bank of Canada lifted their price objective on shares of Trane Technologies from $231.00 to $246.00 and gave the company a "sector perform" rating in a research note on Friday, February 2nd. Finally, Citigroup lifted their price objective on shares of Trane Technologies from $309.00 to $355.00 and gave the company a "buy" rating in a research note on Monday, April 8th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $251.83.

Insider Activity

In other news, CEO David S. Regnery sold 6,990 shares of the company's stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $286.19, for a total transaction of $2,000,468.10. Following the completion of the transaction, the chief executive officer now owns 113,874 shares of the company's stock, valued at $32,589,600.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Christopher J. Kuehn sold 3,762 shares of the company's stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $286.48, for a total value of $1,077,737.76. Following the sale, the chief financial officer now owns 61,691 shares of the company's stock, valued at $17,673,237.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO David S. Regnery sold 6,990 shares of the company's stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $286.19, for a total transaction of $2,000,468.10. Following the completion of the sale, the chief executive officer now directly owns 113,874 shares in the company, valued at approximately $32,589,600.06. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,874 shares of company stock valued at $8,462,825. Insiders own 0.39% of the company's stock.

Trane Technologies Stock Performance

Trane Technologies stock traded down $1.29 on Friday, reaching $288.27. 800,778 shares of the stock were exchanged, compared to its average volume of 750,544. The stock has a market cap of $65.46 billion, a PE ratio of 32.80, a PEG ratio of 2.44 and a beta of 1.05. The company has a current ratio of 1.13, a quick ratio of 0.78 and a debt-to-equity ratio of 0.57. Trane Technologies plc has a twelve month low of $162.04 and a twelve month high of $306.98. The firm has a fifty day moving average price of $289.67 and a two-hundred day moving average price of $251.30.

Trane Technologies (NYSE:TT - Get Free Report) last released its earnings results on Thursday, February 1st. The company reported $2.17 earnings per share for the quarter, topping analysts' consensus estimates of $2.13 by $0.04. The firm had revenue of $4.42 billion during the quarter, compared to analyst estimates of $4.43 billion. Trane Technologies had a net margin of 11.45% and a return on equity of 32.01%. The business's revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.82 EPS. Sell-side analysts anticipate that Trane Technologies plc will post 10.2 EPS for the current year.

Trane Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date is Thursday, June 6th. Trane Technologies's dividend payout ratio is currently 38.23%.

Trane Technologies Company 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.