Harbor Capital Advisors Inc. Acquires Shares of 3,368 Trane Technologies plc (NYSE:TT)

Harbor Capital Advisors Inc. acquired a new stake in shares of Trane Technologies plc (NYSE:TT) in the first quarter, HoldingsChannel.com reports. The firm acquired 3,368 shares of the company’s stock, valued at approximately $1,135,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Secured Retirement Advisors LLC lifted its holdings in shares of Trane Technologies by 0.6% during the fourth quarter. Secured Retirement Advisors LLC now owns 4,628 shares of the company’s stock valued at $1,709,000 after acquiring an additional 28 shares during the period. Kanawha Capital Management LLC lifted its holdings in shares of Trane Technologies by 0.6% during the fourth quarter. Kanawha Capital Management LLC now owns 4,712 shares of the company’s stock valued at $1,740,000 after acquiring an additional 29 shares during the period. Quadrant Capital Group LLC lifted its holdings in shares of Trane Technologies by 0.8% during the fourth quarter. Quadrant Capital Group LLC now owns 3,786 shares of the company’s stock valued at $1,398,000 after acquiring an additional 30 shares during the period. Prossimo Advisors LLC lifted its holdings in shares of Trane Technologies by 0.7% during the fourth quarter. Prossimo Advisors LLC now owns 4,463 shares of the company’s stock valued at $1,648,000 after acquiring an additional 32 shares during the period. Finally, Tortoise Investment Management LLC lifted its holdings in shares of Trane Technologies by 6.5% during the fourth quarter. Tortoise Investment Management LLC now owns 537 shares of the company’s stock valued at $198,000 after acquiring an additional 33 shares during the period. 82.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on TT shares. Robert W. Baird lifted their price target on Trane Technologies from $360.00 to $396.00 and gave the company a “neutral” rating in a report on Thursday, May 1st. Royal Bank of Canada lifted their price target on Trane Technologies from $363.00 to $408.00 and gave the company a “sector perform” rating in a report on Thursday, May 1st. Citigroup lifted their price target on Trane Technologies from $415.00 to $445.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Hsbc Global Res raised Trane Technologies from a “hold” rating to a “strong-buy” rating in a report on Friday, April 25th. Finally, Barclays cut their price target on Trane Technologies from $500.00 to $475.00 and set an “overweight” rating for the company in a report on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Trane Technologies presently has an average rating of “Moderate Buy” and an average target price of $427.47.

Insider Transactions at Trane Technologies

In other news, insider Donald E. Simmons sold 3,571 shares of the business’s 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 transaction, the insider now directly owns 3,593 shares in the company, valued at approximately $1,365,340. The trade was a 49.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.38% of the company’s stock.

Trane Technologies Price Performance

Shares of TT stock opened at $420.84 on Friday. The stock has a 50-day moving average price of $392.71 and a 200 day moving average price of $377.01. 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 firm has a market cap of $93.85 billion, a price-to-earnings ratio of 37.41, a PEG ratio of 2.50 and a beta of 1.16. Trane Technologies plc has a 12 month low of $298.15 and a 12 month high of $436.61.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $2.45 EPS 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 analyst estimates of $4.46 billion. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. The company’s revenue was up 11.2% on a year-over-year basis. During the same period last year, the company earned $1.94 earnings per share. Research analysts expect that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be given a dividend of $0.94 per share. The ex-dividend date is Friday, September 5th. This represents a $3.76 annualized dividend and a dividend yield of 0.89%. Trane Technologies’s payout ratio is currently 31.28%.

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.