Blue Chip Partners LLC Invests $104,000 in Trane Technologies plc (NYSE:TT)

Blue Chip Partners LLC bought a new stake in shares of Trane Technologies plc (NYSE:TT) during the 4th quarter, HoldingsChannel.com reports. The fund bought 425 shares of the company’s stock, valued at approximately $104,000.

Other large investors also recently added to or reduced their stakes in the company. International Assets Investment Management LLC grew its stake in shares of Trane Technologies by 24,670.7% during the fourth quarter. International Assets Investment Management LLC now owns 1,034,423 shares of the company’s stock valued at $252,296,000 after buying an additional 1,030,247 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Trane Technologies by 5.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 17,085,662 shares of the company’s stock valued at $3,466,852,000 after acquiring an additional 880,583 shares during the period. FMR LLC grew its position in Trane Technologies by 12.4% during the 3rd quarter. FMR LLC now owns 5,743,154 shares of the company’s stock worth $1,165,343,000 after acquiring an additional 632,598 shares during the last quarter. Wellington Management Group LLP increased its stake in Trane Technologies by 36.4% in the 3rd quarter. Wellington Management Group LLP now owns 1,639,058 shares of the company’s stock worth $332,581,000 after purchasing an additional 436,997 shares during the period. Finally, Alphinity Investment Management Pty Ltd lifted its position in Trane Technologies by 31.4% in the third quarter. Alphinity Investment Management Pty Ltd now owns 1,812,549 shares of the company’s stock valued at $367,784,000 after purchasing an additional 433,388 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Trading Down 1.2 %

TT opened at $300.86 on Tuesday. The company has a quick ratio of 0.78, a current ratio of 1.13 and a debt-to-equity ratio of 0.57. Trane Technologies plc has a 52 week low of $162.04 and a 52 week high of $307.95. The stock has a market cap of $68.32 billion, a PE ratio of 34.23, a PEG ratio of 2.57 and a beta of 1.05. The business has a 50 day moving average of $292.79 and a 200-day moving average of $255.54.

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

Trane Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 1.12%. The ex-dividend date is Thursday, June 6th. Trane Technologies’s payout ratio is currently 38.23%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Trane Technologies

In other news, SVP Keith A. Sultana sold 1,637 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $267.74, for a total value of $438,290.38. Following the sale, the senior vice president now directly owns 42,374 shares of the company’s stock, valued at approximately $11,345,214.76. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO David S. Regnery sold 6,990 shares of Trane Technologies stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $286.19, for a total value of $2,000,468.10. Following the completion of the transaction, the chief executive officer now owns 113,874 shares of the company’s stock, valued at approximately $32,589,600.06. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Keith A. Sultana sold 1,637 shares of Trane Technologies stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $267.74, for a total value of $438,290.38. Following the completion of the transaction, the senior vice president now directly owns 42,374 shares of the company’s stock, valued at approximately $11,345,214.76. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,874 shares of company stock valued at $8,462,825. Corporate insiders own 0.39% of the company’s stock.

Trane Technologies Company 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.