ABN Amro Investment Solutions Invests $71.44 Million in Trane Technologies plc $TT

ABN Amro Investment Solutions purchased a new stake in Trane Technologies plc (NYSE:TT) in the 1st quarter, HoldingsChannel.com reports. The fund purchased 171,433 shares of the company’s stock, valued at approximately $71,443,000. Trane Technologies accounts for about 0.9% of ABN Amro Investment Solutions’ investment portfolio, making the stock its 20th largest holding.

Several other hedge funds also recently added to or reduced their stakes in the business. Tucker Asset Management LLC purchased a new position in shares of Trane Technologies during the 4th quarter worth $25,000. Wilkerson Advisory Group LLC raised its holdings in Trane Technologies by 136.0% in the 1st quarter. Wilkerson Advisory Group LLC now owns 59 shares of the company’s stock valued at $25,000 after buying an additional 34 shares during the period. Hilton Head Capital Partners LLC acquired a new position in Trane Technologies in the fourth quarter valued at about $32,000. JPL Wealth Management LLC purchased a new position in Trane Technologies during the third quarter worth about $32,000. Finally, Physician Wealth Advisors Inc. increased its position in shares of Trane Technologies by 192.6% during the first quarter. Physician Wealth Advisors Inc. now owns 79 shares of the company’s stock valued at $33,000 after acquiring an additional 52 shares during the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Royal Bank Of Canada boosted their price target on shares of Trane Technologies from $440.00 to $501.00 and gave the company a “sector perform” rating in a research note on Friday, May 1st. Barclays boosted their target price 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 lifted their target price on Trane Technologies from $525.00 to $570.00 and gave the company a “buy” rating in a research report on Friday, May 1st. KeyCorp boosted their price target on shares of Trane Technologies from $525.00 to $555.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Finally, BNP Paribas Exane initiated coverage on shares of Trane Technologies in a research report on Tuesday, April 14th. They set an “outperform” rating and a $550.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Trane Technologies presently has an average rating of “Moderate Buy” and an average price target of $516.67.

Trane Technologies Stock Up 0.5%

TT stock opened at $470.42 on Wednesday. The company has a market cap of $103.99 billion, a price-to-earnings ratio of 36.38, a price-to-earnings-growth ratio of 2.15 and a beta of 1.19. The company has a fifty day moving average price of $469.78 and a 200 day moving average price of $448.47. 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 12 month low of $348.06 and a 12 month high of $505.87.

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

Trane Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 4th will be issued a dividend of $1.05 per share. The ex-dividend date of this dividend 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 (DPR) is currently 32.48%.

Insider Transactions at Trane Technologies

In other Trane Technologies news, insider Donald E. Simmons sold 4,593 shares of the business’s stock in a transaction 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 transaction, the insider directly owned 3,819 shares of the company’s stock, valued at approximately $1,909,500. The trade was a 54.60% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is owned by company insiders.

About Trane Technologies

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.