Ninety One SA PTY Ltd Purchases 723 Shares of Trane Technologies plc (NYSE:TT)

Ninety One SA PTY Ltd grew its position in shares of Trane Technologies plc (NYSE:TT) by 1.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 43,121 shares of the company’s stock after acquiring an additional 723 shares during the quarter. Trane Technologies comprises approximately 1.6% of Ninety One SA PTY Ltd’s holdings, making the stock its 21st largest holding. Ninety One SA PTY Ltd’s holdings in Trane Technologies were worth $10,517,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Trane Technologies by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 18,133,851 shares of the company’s stock valued at $2,769,040,000 after acquiring an additional 77,924 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Trane Technologies by 5.4% in the third quarter. JPMorgan Chase & Co. now owns 17,085,662 shares of the company’s stock worth $3,466,852,000 after buying an additional 880,583 shares during the last quarter. FMR LLC lifted its position in Trane Technologies by 12.4% in the third quarter. FMR LLC now owns 5,743,154 shares of the company’s stock worth $1,165,343,000 after buying an additional 632,598 shares during the last quarter. Geode Capital Management LLC lifted its position in Trane Technologies by 1.7% in the first quarter. Geode Capital Management LLC now owns 4,765,976 shares of the company’s stock worth $874,863,000 after buying an additional 80,607 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its position in Trane Technologies by 2.6% in the third quarter. Ameriprise Financial Inc. now owns 4,050,779 shares of the company’s stock worth $821,952,000 after buying an additional 103,823 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, SVP Evan M. Turtz sold 2,821 shares of Trane Technologies stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $288.33, for a total value of $813,378.93. Following the transaction, the senior vice president now owns 20,729 shares in the company, valued at $5,976,792.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Trane Technologies news, SVP Evan M. Turtz sold 2,821 shares of Trane Technologies stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $288.33, for a total value of $813,378.93. Following the transaction, the senior vice president now owns 20,729 shares in the company, valued at $5,976,792.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Keith A. Sultana sold 1,637 shares of Trane Technologies stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $267.74, for a total value of $438,290.38. Following the completion of the transaction, the senior vice president now owns 42,374 shares in the company, valued at approximately $11,345,214.76. The disclosure for this sale can be found here. Insiders have sold 29,874 shares of company stock worth $8,462,825 over the last quarter. Insiders own 0.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TT. Citigroup raised their price target on Trane Technologies from $309.00 to $355.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. The Goldman Sachs Group raised their price target on Trane Technologies from $253.00 to $287.00 and gave the stock a “neutral” rating in a research report on Monday, February 5th. Royal Bank of Canada raised their price target on Trane Technologies from $231.00 to $246.00 and gave the stock a “sector perform” rating in a research report on Friday, February 2nd. Barclays lifted their target price on Trane Technologies from $286.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Finally, Stephens lifted their target price on Trane Technologies from $235.00 to $280.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 6th. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $251.83.

Trane Technologies Stock Down 0.9 %

Shares of Trane Technologies stock traded down $2.76 during trading on Thursday, hitting $290.33. 363,145 shares of the stock traded hands, compared to its average volume of 993,236. The firm has a market cap of $65.93 billion, a P/E ratio of 33.34, a price-to-earnings-growth ratio of 2.49 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 52-week low of $162.04 and a 52-week high of $306.98. The stock’s fifty day simple moving average is $289.02 and its 200 day simple moving average is $250.01.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Thursday, February 1st. The company reported $2.17 EPS for the quarter, beating the consensus estimate of $2.13 by $0.04. The firm had revenue of $4.42 billion for the quarter, compared to analyst estimates of $4.43 billion. Trane Technologies had a return on equity of 32.01% and a net margin of 11.45%. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.82 earnings per share. On average, equities analysts predict that Trane Technologies plc will post 10.2 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be paid a $0.84 dividend. The ex-dividend date is Thursday, June 6th. This represents a $3.36 annualized dividend and a yield of 1.16%. Trane Technologies’s dividend payout ratio (DPR) is presently 38.23%.

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.