Trane Technologies plc (NYSE:TT) Shares Acquired by Manchester Capital Management LLC

Manchester Capital Management LLC boosted its position in Trane Technologies plc (NYSE:TT) by 102.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,423 shares of the company’s stock after acquiring an additional 721 shares during the quarter. Manchester Capital Management LLC’s holdings in Trane Technologies were worth $427,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BKM Wealth Management LLC acquired a new position in Trane Technologies during the fourth quarter worth approximately $25,000. Motco acquired a new position in shares of Trane Technologies in the 4th quarter valued at $27,000. Sachetta LLC purchased a new stake in Trane Technologies in the 4th quarter valued at $27,000. GoalVest Advisory LLC boosted its stake in Trane Technologies by 157.1% during the 1st quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock worth $27,000 after purchasing an additional 55 shares during the period. Finally, Dixon Mitchell Investment Counsel Inc. purchased a new position in Trane Technologies during the 1st quarter worth $27,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Price Performance

Shares of TT traded up $1.07 during mid-day trading on Friday, reaching $345.63. 202,402 shares of the company’s stock were exchanged, compared to its average volume of 1,081,564. The company has a quick ratio of 0.74, a current ratio of 1.13 and a debt-to-equity ratio of 0.58. The company has a 50-day simple moving average of $330.38 and a two-hundred day simple moving average of $295.48. Trane Technologies plc has a 52-week low of $184.02 and a 52-week high of $347.20. The company has a market cap of $78.23 billion, a price-to-earnings ratio of 36.81, a PEG ratio of 2.64 and a beta of 1.01.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $1.94 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.30. The business had revenue of $4.22 billion during the quarter, compared to analysts’ expectations of $3.99 billion. Trane Technologies had a net margin of 11.81% and a return on equity of 32.78%. The company’s revenue was up 15.0% on a year-over-year basis. During the same period last year, the company posted $1.41 EPS. On average, sell-side analysts predict that Trane Technologies plc will post 10.48 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date is Friday, September 6th. Trane Technologies’s payout ratio is 35.90%.

Analyst Ratings Changes

Several brokerages have recently weighed in on TT. The Goldman Sachs Group increased their target price on shares of Trane Technologies from $287.00 to $326.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Stephens upped their price target on Trane Technologies from $310.00 to $320.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 1st. Mizuho upped their price objective on shares of Trane Technologies from $280.00 to $325.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Citigroup lifted their target price on shares of Trane Technologies from $355.00 to $366.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Finally, UBS Group increased their price target on shares of Trane Technologies from $330.00 to $375.00 and gave the stock a “buy” rating in a report on Monday, June 3rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $311.21.

Insider Activity

In other Trane Technologies news, SVP Evan M. Turtz sold 8,988 shares of Trane Technologies stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $321.30, for a total value of $2,887,844.40. Following the transaction, the senior vice president now owns 20,758 shares in the company, valued at approximately $6,669,545.40. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Trane Technologies news, CFO Christopher J. Kuehn sold 4,000 shares of the stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $318.67, for a total value of $1,274,680.00. Following the completion of the sale, the chief financial officer now owns 61,293 shares of the company’s stock, valued at $19,532,240.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Evan M. Turtz sold 8,988 shares of the business’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $321.30, for a total transaction of $2,887,844.40. Following the transaction, the senior vice president now directly owns 20,758 shares in the company, valued at $6,669,545.40. The disclosure for this sale can be found here. Corporate insiders own 0.38% 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.