Van ECK Associates Corp Purchases 2,384 Shares of Trane Technologies plc (NYSE:TT)

Van ECK Associates Corp grew its position in shares of Trane Technologies plc (NYSE:TT) by 5.9% in the 1st quarter, HoldingsChannel.com reports. The fund owned 43,127 shares of the company’s stock after buying an additional 2,384 shares during the quarter. Van ECK Associates Corp’s holdings in Trane Technologies were worth $12,947,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. BKM Wealth Management LLC bought a new stake in shares of Trane Technologies during the 4th quarter valued at $25,000. Motco purchased a new position in shares of Trane Technologies during the 4th quarter valued at $27,000. Sachetta LLC purchased a new position in shares of Trane Technologies during the 4th quarter valued at $27,000. GoalVest Advisory LLC lifted its stake in shares of Trane Technologies by 157.1% during the 1st quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock valued at $27,000 after buying an additional 55 shares in the last quarter. Finally, Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of Trane Technologies during the 1st quarter valued at $27,000. 82.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on TT. Mizuho boosted their price target on shares of Trane Technologies from $280.00 to $325.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. TD Cowen boosted their price target on shares of Trane Technologies from $325.00 to $360.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. UBS Group boosted their price target on shares of Trane Technologies from $330.00 to $375.00 and gave the stock a “buy” rating in a research note on Monday, June 3rd. Citigroup boosted their price target on shares of Trane Technologies from $355.00 to $366.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Finally, JPMorgan Chase & Co. boosted their target price on shares of Trane Technologies from $247.00 to $300.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $309.79.

Trane Technologies Stock Up 0.1 %

NYSE:TT traded up $0.47 during midday trading on Friday, reaching $331.76. 563,922 shares of the stock traded hands, compared to its average volume of 1,087,612. Trane Technologies plc has a 12-month low of $184.02 and a 12-month high of $345.46. The business has a 50-day moving average of $327.78 and a two-hundred day moving average of $292.16. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.74 and a current ratio of 1.13. The stock has a market capitalization of $75.09 billion, a PE ratio of 35.39, a price-to-earnings-growth ratio of 2.57 and a beta of 1.01.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.30. The business had revenue of $4.22 billion during the quarter, compared to analysts’ expectations of $3.99 billion. Trane Technologies had a net margin of 11.81% and a return on equity of 32.78%. The business’s quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter last year, the company posted $1.41 earnings per share. On average, equities analysts forecast that Trane Technologies plc will post 10.48 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. Shareholders of record on Friday, September 6th will be issued 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 1.01%. Trane Technologies’s dividend payout ratio is currently 35.90%.

Insiders Place Their Bets

In other news, SVP Evan M. Turtz sold 8,988 shares of the stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $321.30, for a total value of $2,887,844.40. Following the sale, the senior vice president now owns 20,758 shares in the company, valued at $6,669,545.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Christopher J. Kuehn sold 4,000 shares of the stock in a transaction on 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 sale, the chief financial officer now owns 61,293 shares in the company, valued at $19,532,240.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Evan M. Turtz sold 8,988 shares of the firm’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $321.30, for a total transaction of $2,887,844.40. Following the sale, the senior vice president now owns 20,758 shares in the company, valued at approximately $6,669,545.40. The disclosure for this sale can be found here. 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.