3,715 Shares in Trane Technologies plc (NYSE:TT) Bought by Twin Capital Management Inc.

Twin Capital Management Inc. bought a new stake in Trane Technologies plc (NYSE:TTGet Rating) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 3,715 shares of the company’s stock, valued at approximately $567,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. WCM Investment Management LLC lifted its holdings in Trane Technologies by 21.3% in the first quarter. WCM Investment Management LLC now owns 8,092 shares of the company’s stock valued at $1,236,000 after acquiring an additional 1,420 shares during the period. SouthState Corp lifted its holdings in Trane Technologies by 728.2% in the first quarter. SouthState Corp now owns 646 shares of the company’s stock valued at $99,000 after acquiring an additional 568 shares during the period. CIBC Asset Management Inc lifted its holdings in Trane Technologies by 1.0% in the first quarter. CIBC Asset Management Inc now owns 13,038 shares of the company’s stock valued at $1,991,000 after acquiring an additional 134 shares during the period. Legal Advantage Investments Inc. lifted its holdings in Trane Technologies by 13.8% in the first quarter. Legal Advantage Investments Inc. now owns 4,098 shares of the company’s stock valued at $626,000 after acquiring an additional 498 shares during the period. Finally, Valley National Advisers Inc. raised its stake in shares of Trane Technologies by 3.4% during the 1st quarter. Valley National Advisers Inc. now owns 3,048 shares of the company’s stock worth $465,000 after buying an additional 100 shares during the last quarter. Institutional investors and hedge funds own 80.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on TT. Cowen raised Trane Technologies from a “market perform” rating to an “outperform” rating and set a $180.00 price target for the company in a research note on Friday, July 8th. Wells Fargo & Company lifted their price target on Trane Technologies from $123.00 to $133.00 and gave the stock an “underweight” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft cut their price target on Trane Technologies from $162.00 to $146.00 and set a “hold” rating for the company in a research note on Wednesday, July 13th. Morgan Stanley lifted their price objective on Trane Technologies from $153.00 to $166.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Credit Suisse Group lifted their price objective on Trane Technologies from $165.00 to $169.00 and gave the stock an “outperform” rating in a research report on Thursday. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $173.06.

Trane Technologies Stock Performance

NYSE TT opened at $154.87 on Friday. The firm has a market capitalization of $36.22 billion, a P/E ratio of 25.77, a P/E/G ratio of 1.84 and a beta of 1.04. Trane Technologies plc has a 1-year low of $120.64 and a 1-year high of $204.23. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.31 and a quick ratio of 0.91. The business’s 50-day simple moving average is $134.00 and its 200-day simple moving average is $145.38.

Trane Technologies (NYSE:TTGet Rating) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $2.16 EPS for the quarter, topping the consensus estimate of $2.10 by $0.06. The firm had revenue of $4.19 billion for the quarter, compared to analyst estimates of $4.11 billion. Trane Technologies had a return on equity of 23.67% and a net margin of 10.01%. Trane Technologies’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.92 EPS. Equities analysts predict that Trane Technologies plc will post 7.01 EPS for the current year.

Trane Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 2nd will be given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 1.73%. The ex-dividend date of this dividend is Thursday, September 1st. Trane Technologies’s dividend payout ratio (DPR) is presently 44.59%.

Trane Technologies Profile

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Trane Technologies plc, together with its subsidiaries, engages in the designing, manufacturing, selling, and servicing of solutions for heating, ventilation, air conditioning, and transport refrigeration. It offers air conditioners, exchangers, and handlers; airside and terminal devices; auxiliary power units; chillers; coils and condensers; gensets; furnaces; heat pumps; home automation products; humidifiers; hybrid and non-diesel transport refrigeration, and ice energy storage solutions; indoor air quality assessments and related products; large and light commercial unitary products; motor replacements; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.

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Institutional Ownership by Quarter for Trane Technologies (NYSE:TT)

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