Trane Technologies plc (NYSE:TT) Shares Purchased by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC raised its stake in Trane Technologies plc (NYSE:TT) by 19.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,602 shares of the company’s stock after acquiring an additional 923 shares during the period. Frank Rimerman Advisors LLC’s holdings in Trane Technologies were worth $2,178,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Empowered Funds LLC grew its stake in Trane Technologies by 138.0% during the 1st quarter. Empowered Funds LLC now owns 6,667 shares of the company’s stock worth $2,001,000 after buying an additional 3,866 shares during the last quarter. Nordea Investment Management AB increased its holdings in shares of Trane Technologies by 3.0% in the 1st quarter. Nordea Investment Management AB now owns 453,212 shares of the company’s stock valued at $135,796,000 after acquiring an additional 13,078 shares during the period. Sei Investments Co. raised its position in Trane Technologies by 379.2% in the 1st quarter. Sei Investments Co. now owns 306,165 shares of the company’s stock valued at $91,909,000 after purchasing an additional 242,271 shares during the last quarter. Albar Capital Ltd acquired a new stake in Trane Technologies during the 2nd quarter worth $14,556,000. Finally, M&G Plc purchased a new position in Trane Technologies during the 1st quarter worth $8,939,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on TT. Royal Bank of Canada upped their target price on shares of Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a report on Thursday, August 1st. Morgan Stanley began coverage on Trane Technologies in a research note on Friday, September 6th. They issued an “overweight” rating and a $425.00 target price on the stock. The Goldman Sachs Group upped their price target on Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Stephens reiterated an “equal weight” rating and issued a $350.00 price objective on shares of Trane Technologies in a research report on Monday, August 5th. Finally, Mizuho raised their target price on shares of Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $373.58.

Trane Technologies Stock Performance

Shares of Trane Technologies stock opened at $392.57 on Friday. The company has a 50-day moving average of $374.71 and a two-hundred day moving average of $342.75. The stock has a market cap of $88.59 billion, a PE ratio of 38.83, a price-to-earnings-growth ratio of 2.70 and a beta of 1.01. The company has a current ratio of 1.17, a quick ratio of 0.84 and a debt-to-equity ratio of 0.62. Trane Technologies plc has a 12-month low of $184.24 and a 12-month high of $406.96.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Wednesday, July 31st. The company reported $3.30 earnings per share for the quarter, beating the consensus estimate of $3.08 by $0.22. The firm had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.13 billion. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. Trane Technologies’s quarterly revenue was up 12.8% on a year-over-year basis. During the same period last year, the business posted $2.68 EPS. On average, research analysts anticipate that Trane Technologies plc will post 10.89 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be paid a $0.84 dividend. The ex-dividend date is Friday, December 6th. This represents a $3.36 dividend on an annualized basis and a yield of 0.86%. Trane Technologies’s payout ratio is 33.23%.

Insiders Place Their Bets

In other news, CEO David S. Regnery sold 29,450 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $321.25, for a total value of $9,460,812.50. Following the sale, the chief executive officer now directly owns 132,946 shares in the company, valued at $42,708,902.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO David S. Regnery sold 29,450 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $321.25, for a total transaction of $9,460,812.50. Following the sale, the chief executive officer now owns 132,946 shares of the company’s stock, valued at $42,708,902.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Raymond D. Pittard sold 1,805 shares of Trane Technologies stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total value of $593,213.25. Following the sale, the executive vice president now owns 83,517 shares of the company’s stock, valued at approximately $27,447,862.05. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by company insiders.

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.