Trane Technologies plc (NYSE:TT) Shares Purchased by First Horizon Advisors Inc.

First Horizon Advisors Inc. lifted its holdings in Trane Technologies plc (NYSE:TT) by 7.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,430 shares of the company’s stock after acquiring an additional 296 shares during the period. First Horizon Advisors Inc.’s holdings in Trane Technologies were worth $1,457,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Trane Technologies by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 18,887,514 shares of the company’s stock worth $5,670,032,000 after acquiring an additional 174,251 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Trane Technologies by 0.5% during the 1st quarter. JPMorgan Chase & Co. now owns 17,393,733 shares of the company’s stock valued at $5,221,599,000 after buying an additional 80,536 shares during the last quarter. Norges Bank acquired a new stake in shares of Trane Technologies during the fourth quarter worth approximately $655,804,000. Capital World Investors increased its stake in shares of Trane Technologies by 0.6% in the fourth quarter. Capital World Investors now owns 2,176,595 shares of the company’s stock worth $530,870,000 after buying an additional 11,930 shares during the last quarter. Finally, Franklin Resources Inc. raised its holdings in Trane Technologies by 17.3% in the fourth quarter. Franklin Resources Inc. now owns 1,655,459 shares of the company’s stock valued at $403,766,000 after acquiring an additional 243,996 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Performance

NYSE:TT opened at $347.67 on Wednesday. The company has a 50-day moving average of $334.27 and a 200-day moving average of $313.12. The firm has a market cap of $78.70 billion, a price-to-earnings ratio of 37.14, a price-to-earnings-growth ratio of 2.50 and a beta of 1.01. The company has a current ratio of 1.17, a quick ratio of 0.74 and a debt-to-equity ratio of 0.62. Trane Technologies plc has a twelve month low of $184.02 and a twelve month high of $351.41.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $3.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.08 by $0.22. Trane Technologies had a net margin of 12.33% and a return on equity of 33.97%. The firm had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.13 billion. During the same quarter in the previous year, the business posted $2.68 earnings per share. The firm’s quarterly revenue was up 12.8% compared to the same quarter last year. Analysts forecast that Trane Technologies plc will post 10.83 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be given a $0.84 dividend. The ex-dividend date is Friday, September 6th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.97%. Trane Technologies’s dividend payout ratio (DPR) is 35.90%.

Insider Buying and Selling

In other Trane Technologies news, CFO Christopher J. Kuehn sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $318.67, for a total value of $1,274,680.00. Following the completion of the transaction, the chief financial officer now directly owns 61,293 shares in the company, valued at $19,532,240.31. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, SVP Evan M. Turtz sold 8,988 shares of the company’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $321.30, for a total value of $2,887,844.40. Following the transaction, the senior vice president now owns 20,758 shares in the company, valued at approximately $6,669,545.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Christopher J. Kuehn sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $318.67, for a total transaction of $1,274,680.00. Following the transaction, the chief financial officer now directly owns 61,293 shares in the company, valued at $19,532,240.31. The disclosure for this sale can be found here. In the last quarter, insiders have sold 44,243 shares of company stock valued at $14,216,550. 0.38% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on TT shares. Robert W. Baird boosted their target price on shares of Trane Technologies from $360.00 to $365.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Royal Bank of Canada upped their price objective on Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a research note on Thursday, August 1st. Citigroup lifted their target price on Trane Technologies from $355.00 to $366.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. TD Cowen boosted their price objective on shares of Trane Technologies from $325.00 to $360.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Finally, Stephens restated an “equal weight” rating and set a $350.00 price objective on shares of Trane Technologies in a research note on Monday, August 5th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Trane Technologies currently has an average rating of “Hold” and an average target price of $323.29.

Trane Technologies 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.