Trane Technologies plc (NYSE:TT) Shares Acquired by abrdn plc

abrdn plc boosted its holdings in Trane Technologies plc (NYSE:TT) by 7.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,062,543 shares of the company’s stock after acquiring an additional 76,205 shares during the period. Trane Technologies comprises about 0.6% of abrdn plc’s investment portfolio, making the stock its 29th biggest holding. abrdn plc owned about 0.47% of Trane Technologies worth $259,154,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. BKM Wealth Management LLC acquired a new position in Trane Technologies during the 4th quarter valued at about $25,000. Live Oak Investment Partners acquired a new position in shares of Trane Technologies during the fourth quarter valued at $30,000. Venturi Wealth Management LLC raised its stake in shares of Trane Technologies by 139.7% during the third quarter. Venturi Wealth Management LLC now owns 151 shares of the company’s stock valued at $31,000 after purchasing an additional 88 shares in the last quarter. 1832 Asset Management L.P. acquired a new stake in Trane Technologies in the first quarter worth about $34,000. Finally, Avior Wealth Management LLC grew its position in Trane Technologies by 58.0% in the 3rd quarter. Avior Wealth Management LLC now owns 177 shares of the company’s stock valued at $36,000 after buying an additional 65 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Trane Technologies Stock Down 0.4 %

NYSE TT traded down $1.29 on Friday, reaching $288.27. The stock had a trading volume of 800,778 shares, compared to its average volume of 750,544. Trane Technologies plc has a 1 year low of $162.04 and a 1 year high of $306.98. The business has a 50 day moving average price of $289.67 and a 200 day moving average price of $250.91. The company has a current ratio of 1.13, a quick ratio of 0.78 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $65.46 billion, a price-to-earnings ratio of 32.80, a P/E/G ratio of 2.44 and a beta of 1.05.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Thursday, February 1st. The company reported $2.17 EPS for the quarter, topping analysts’ consensus estimates of $2.13 by $0.04. The firm had revenue of $4.42 billion for the quarter, compared to the consensus estimate of $4.43 billion. Trane Technologies had a return on equity of 32.01% and a net margin of 11.45%. The firm’s revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.82 earnings per share. On average, analysts forecast that Trane Technologies plc will post 10.2 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be issued a $0.84 dividend. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $3.36 annualized dividend and a yield of 1.17%. Trane Technologies’s dividend payout ratio (DPR) is presently 38.23%.

Insider Buying and Selling at Trane Technologies

In related news, EVP Paul A. Camuti sold 508 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $273.34, for a total transaction of $138,856.72. Following the completion of the sale, the executive vice president now owns 89,447 shares in the company, valued at approximately $24,449,442.98. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Christopher J. Kuehn sold 3,762 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $286.48, for a total value of $1,077,737.76. Following the completion of the transaction, the chief financial officer now directly owns 61,691 shares of the company’s stock, valued at $17,673,237.68. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Paul A. Camuti sold 508 shares of Trane Technologies stock in a transaction on Friday, February 9th. The stock was sold at an average price of $273.34, for a total transaction of $138,856.72. Following the sale, the executive vice president now owns 89,447 shares in the company, valued at approximately $24,449,442.98. The disclosure for this sale can be found here. Insiders sold 29,874 shares of company stock worth $8,462,825 over the last ninety days. Company insiders own 0.39% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on TT. Royal Bank of Canada increased their price objective on shares of Trane Technologies from $231.00 to $246.00 and gave the company a “sector perform” rating in a report on Friday, February 2nd. The Goldman Sachs Group boosted their price objective on Trane Technologies from $253.00 to $287.00 and gave the stock a “neutral” rating in a research note on Monday, February 5th. Stephens raised their target price on Trane Technologies from $235.00 to $280.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 6th. Barclays upped their price target on shares of Trane Technologies from $286.00 to $325.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. Finally, Citigroup lifted their price objective on shares of Trane Technologies from $309.00 to $355.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $251.83.

Trane Technologies Profile

Trane Technologies plc, together with its subsidiaries, designs, manufactures, sells, and services of solutions for heating, ventilation, air conditioning, custom, and custom and transport refrigeration in Ireland and internationally. It offers air conditioners, exchangers, and handlers; airside and terminal devices; air sourced heat pumps, auxiliary power units; chillers; coils and condensers; gensets; dehumidifiers; ductless; furnaces; home automation products; humidifiers; indoor air quality assessments and related products; large and light commercial unitary products; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.