Allspring Global Investments Holdings LLC Boosts Stock Position in Trane Technologies plc $TT

Allspring Global Investments Holdings LLC increased its stake in shares of Trane Technologies plc (NYSE:TT) by 24.3% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 88,011 shares of the company’s stock after buying an additional 17,185 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Trane Technologies were worth $37,681,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of TT. Tucker Asset Management LLC purchased a new position in Trane Technologies in the fourth quarter valued at approximately $25,000. Hilton Head Capital Partners LLC purchased a new stake in Trane Technologies in the fourth quarter worth $32,000. JPL Wealth Management LLC bought a new stake in shares of Trane Technologies in the third quarter valued at $32,000. Physician Wealth Advisors Inc. lifted its position in shares of Trane Technologies by 192.6% during the 1st quarter. Physician Wealth Advisors Inc. now owns 79 shares of the company’s stock valued at $33,000 after buying an additional 52 shares during the last quarter. Finally, Frazier Financial Advisors LLC bought a new position in shares of Trane Technologies during the 1st quarter worth $33,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Price Performance

TT stock opened at $469.59 on Monday. The firm has a 50 day moving average of $469.88 and a 200-day moving average of $447.36. The firm has a market capitalization of $103.80 billion, a P/E ratio of 36.32, a price-to-earnings-growth ratio of 2.16 and a beta of 1.19. Trane Technologies plc has a 12 month low of $348.06 and a 12 month high of $505.87. The company has a current ratio of 1.10, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Friday, May 1st. The company reported $2.63 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.10. The firm had revenue of $4.97 billion for the quarter, compared to analysts’ expectations of $4.81 billion. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The company’s revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the firm posted $2.45 EPS. As a group, sell-side analysts predict that Trane Technologies plc will post 14.89 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, September 4th will be paid a dividend of $1.05 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $4.20 annualized dividend and a dividend yield of 0.9%. Trane Technologies’s dividend payout ratio (DPR) is 32.48%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on TT shares. BNP Paribas Exane initiated coverage on Trane Technologies in a report on Tuesday, April 14th. They issued an “outperform” rating and a $550.00 price objective for the company. Citigroup increased their target price on shares of Trane Technologies from $525.00 to $570.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Barclays boosted their price target on shares of Trane Technologies from $507.00 to $585.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. JPMorgan Chase & Co. lifted their price objective on shares of Trane Technologies from $460.00 to $476.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Trane Technologies in a report on Monday, April 20th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $516.67.

Insider Buying and Selling at Trane Technologies

In other news, insider Donald E. Simmons sold 4,593 shares of the business’s stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $500.00, for a total value of $2,296,500.00. Following the completion of the sale, the insider directly owned 3,819 shares in the company, valued at approximately $1,909,500. The trade was a 54.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.43% of the company’s stock.

Trane Technologies Profile

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.