Trane Technologies plc $TT Position Raised by Boston Common Asset Management LLC

Boston Common Asset Management LLC raised its position in shares of Trane Technologies plc (NYSE:TT) by 8.3% in the first quarter, HoldingsChannel.com reports. The firm owned 19,467 shares of the company’s stock after buying an additional 1,490 shares during the period. Boston Common Asset Management LLC’s holdings in Trane Technologies were worth $8,113,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Bell Investment Advisors Inc raised its stake in shares of Trane Technologies by 12.2% in the 1st quarter. Bell Investment Advisors Inc now owns 203 shares of the company’s stock worth $85,000 after buying an additional 22 shares in the last quarter. Fiduciary Family Office LLC grew its stake in shares of Trane Technologies by 1.5% in the 4th quarter. Fiduciary Family Office LLC now owns 1,573 shares of the company’s stock worth $612,000 after purchasing an additional 23 shares during the last quarter. Foster Dykema Cabot & Partners LLC grew its stake in shares of Trane Technologies by 10.6% in the 4th quarter. Foster Dykema Cabot & Partners LLC now owns 239 shares of the company’s stock worth $93,000 after purchasing an additional 23 shares during the last quarter. Bridges Investment Management Inc. raised its holdings in shares of Trane Technologies by 1.6% in the 4th quarter. Bridges Investment Management Inc. now owns 1,542 shares of the company’s stock worth $600,000 after purchasing an additional 24 shares in the last quarter. Finally, Cornerstone Planning Group LLC lifted its stake in Trane Technologies by 14.5% during the first quarter. Cornerstone Planning Group LLC now owns 190 shares of the company’s stock valued at $79,000 after purchasing an additional 24 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on TT. BNP Paribas Exane assumed coverage on shares of Trane Technologies in a report on Tuesday, April 14th. They set an “outperform” rating and a $550.00 target price for the company. Barclays increased their price objective on Trane Technologies from $507.00 to $585.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Citigroup raised their price objective on Trane Technologies from $525.00 to $570.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. Weiss Ratings restated a “buy (b)” rating on shares of Trane Technologies in a report on Monday, April 20th. Finally, KeyCorp boosted their target price on Trane Technologies from $525.00 to $555.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Trane Technologies currently has an average rating of “Moderate Buy” and an average target price of $516.67.

Insider Activity

In other news, insider Donald E. Simmons sold 4,593 shares of the firm’s stock in a transaction on Thursday, April 30th. The stock was 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 owned 3,819 shares of the company’s stock, valued at $1,909,500. This trade represents a 54.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is owned by insiders.

Trane Technologies Stock Performance

Shares of TT opened at $469.59 on Monday. The company has a 50-day moving average of $469.88 and a two-hundred day moving average of $447.36. The stock has a market cap of $103.80 billion, a price-to-earnings ratio of 36.32, a PEG ratio of 2.16 and a beta of 1.19. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.10 and a quick ratio of 0.77. Trane Technologies plc has a one year low of $348.06 and a one year high of $505.87.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Friday, May 1st. The company reported $2.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.10. The business had revenue of $4.97 billion for the quarter, compared to analyst estimates of $4.81 billion. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The firm’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.45 earnings per share. On average, equities research analysts expect that Trane Technologies plc will post 14.89 earnings per share for the current year.

Trane Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 4th will be issued a $1.05 dividend. The ex-dividend date is Friday, September 4th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 0.9%. Trane Technologies’s dividend payout ratio is presently 32.48%.

Trane Technologies Company 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.