Trane Technologies plc (NYSE:TT) Shares Purchased by Sherbrooke Park Advisers LLC

Sherbrooke Park Advisers LLC increased its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 96.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,745 shares of the company's stock after buying an additional 1,834 shares during the quarter. Trane Technologies comprises 0.4% of Sherbrooke Park Advisers LLC's holdings, making the stock its 16th largest position. Sherbrooke Park Advisers LLC's holdings in Trane Technologies were worth $1,383,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in Trane Technologies during the 4th quarter valued at about $1,117,816,000. Raymond James Financial Inc. purchased a new position in shares of Trane Technologies in the fourth quarter valued at approximately $611,322,000. Northern Trust Corp grew its holdings in shares of Trane Technologies by 20.1% in the fourth 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. BNP Paribas Financial Markets purchased a new stake in Trane Technologies during the 4th quarter worth approximately $137,999,000. Finally, Bank Julius Baer & Co. Ltd Zurich lifted its holdings in Trane Technologies by 455.2% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 427,226 shares of the company's stock worth $167,977,000 after buying an additional 350,277 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on TT shares. Barclays reduced their price target on Trane Technologies from $500.00 to $475.00 and set an "overweight" rating on the stock in a research report on Monday, March 10th. Hsbc Global Res upgraded shares of Trane Technologies from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. Melius lowered shares of Trane Technologies from a "buy" rating to a "hold" rating and set a $398.00 price objective on the stock. in a report on Tuesday, January 28th. Royal Bank of Canada boosted their target price on shares of Trane Technologies from $363.00 to $408.00 and gave the stock a "sector perform" rating in a research note on Thursday, May 1st. Finally, Melius Research restated a "hold" rating and issued a $398.00 price target on shares of Trane Technologies in a research note on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $425.47.

Trane Technologies Stock Performance

Shares of NYSE:TT traded down $2.09 during trading on Wednesday, hitting $427.72. 551,767 shares of the company traded hands, compared to its average volume of 1,344,352. The stock has a market capitalization of $95.39 billion, a price-to-earnings ratio of 38.05, a PEG ratio of 2.50 and a beta of 1.14. Trane Technologies plc has a one year low of $298.15 and a one year high of $433.49. 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 fifty day moving average is $361.71 and its 200-day moving average is $374.22.

Trane Technologies (NYSE:TT - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.20 by $0.25. The company had revenue of $4.69 billion for the quarter, compared to analysts' expectations of $4.46 billion. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. The firm's quarterly revenue was up 11.2% compared to the same quarter last year. During the same period last year, the business posted $1.94 earnings per share. As a group, equities analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be paid 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 payout ratio is currently 31.28%.

Insider Activity

In related news, insider Donald E. Simmons sold 3,571 shares of the firm's stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $380.00, for a total value of $1,356,980.00. Following the sale, the insider now directly owns 3,593 shares in the company, valued at $1,365,340. This trade represents a 49.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.38% of the company's stock.

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.