Goldman Sachs Group Inc. Grows Stake in Trane Technologies plc $TT

Goldman Sachs Group Inc. raised its stake in Trane Technologies plc (NYSE:TT) by 4.4% during the fourth quarter, HoldingsChannel reports. The fund owned 1,698,166 shares of the company’s stock after buying an additional 72,135 shares during the period. Goldman Sachs Group Inc.’s holdings in Trane Technologies were worth $660,926,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of TT. Tucker Asset Management LLC purchased a new stake in shares of Trane Technologies in the fourth quarter worth $25,000. United Community Bank grew its stake in shares of Trane Technologies by 134.4% in the third quarter. United Community Bank now owns 75 shares of the company’s stock worth $32,000 after acquiring an additional 43 shares during the last quarter. JPL Wealth Management LLC purchased a new stake in shares of Trane Technologies in the third quarter worth $32,000. Creative Financial Designs Inc. ADV grew its stake in shares of Trane Technologies by 119.5% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 90 shares of the company’s stock worth $35,000 after acquiring an additional 49 shares during the last quarter. Finally, KERR FINANCIAL PLANNING Corp purchased a new stake in shares of Trane Technologies in the third quarter worth $42,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Evercore assumed coverage on shares of Trane Technologies in a research report on Monday, April 13th. They set an “outperform” rating and a $535.00 price target for the company. JPMorgan Chase & Co. raised their price target on shares of Trane Technologies from $460.00 to $476.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. Barclays raised 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. Royal Bank Of Canada raised 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 report on Friday, May 1st. Finally, BNP Paribas Exane assumed 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 for the company. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $506.56.

Insider Activity

In related news, CAO Elizabeth A. Elwell sold 635 shares of Trane Technologies stock in a transaction on Friday, March 6th. The shares were sold at an average price of $422.70, for a total transaction of $268,414.50. Following the transaction, the chief accounting officer owned 7,100 shares in the company, valued at approximately $3,001,170. The trade was a 8.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Christopher J. Kuehn sold 8,619 shares of the business’s stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $450.00, for a total transaction of $3,878,550.00. Following the completion of the sale, the chief financial officer owned 60,576 shares in the company, valued at approximately $27,259,200. The trade was a 12.46% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 53,654 shares of company stock worth $23,269,523 in the last quarter. Corporate insiders own 0.43% of the company’s stock.

Trane Technologies Stock Up 1.5%

TT opened at $465.72 on Thursday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.10. Trane Technologies plc has a fifty-two week low of $348.06 and a fifty-two week high of $503.47. The firm’s fifty day moving average is $457.72 and its 200 day moving average is $430.83. The stock has a market cap of $102.95 billion, a price-to-earnings ratio of 36.02, a price-to-earnings-growth ratio of 2.11 and a beta of 1.20.

Trane Technologies (NYSE:TT) last released its earnings results on Friday, May 1st. The company reported $2.63 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.10. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The company had revenue of $4.97 billion for the quarter, compared to analysts’ expectations of $4.81 billion. During the same quarter in the previous year, the company earned $2.45 EPS. Trane Technologies’s revenue for the quarter was up 6.0% on a year-over-year basis. On average, sell-side analysts forecast that Trane Technologies plc will post 14.88 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 5th will be paid a dividend of $1.05 per share. The ex-dividend date is Friday, June 5th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 0.9%. Trane Technologies’s payout ratio is 32.48%.

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.