Trane Technologies plc (NYSE:TT) Stock Position Increased by Bessemer Group Inc.

Bessemer Group Inc. boosted its holdings in Trane Technologies plc (NYSE:TT) by 29.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 53,255 shares of the company’s stock after buying an additional 12,045 shares during the quarter. Bessemer Group Inc.’s holdings in Trane Technologies were worth $15,988,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of TT. BKM Wealth Management LLC purchased a new position in Trane Technologies during the fourth quarter valued at approximately $25,000. Mutual Advisors LLC purchased a new position in shares of Trane Technologies during the 4th quarter valued at $389,000. HB Wealth Management LLC raised its holdings in shares of Trane Technologies by 11.3% during the fourth quarter. HB Wealth Management LLC now owns 4,082 shares of the company’s stock worth $996,000 after acquiring an additional 415 shares in the last quarter. Rosenberg Matthew Hamilton lifted its holdings in shares of Trane Technologies by 27.2% during the 4th quarter. Rosenberg Matthew Hamilton now owns 192 shares of the company’s stock valued at $47,000 after buying an additional 41 shares during the last quarter. Finally, CVA Family Office LLC bought a new stake in Trane Technologies in the fourth quarter worth $182,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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

Trane Technologies Price Performance

TT traded down $8.85 during trading on Thursday, hitting $323.99. The company’s stock had a trading volume of 566,016 shares, compared to its average volume of 1,098,979. 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 stock has a market capitalization of $73.34 billion, a price-to-earnings ratio of 35.59, a price-to-earnings-growth ratio of 2.67 and a beta of 1.01. The firm’s 50 day moving average price is $332.17 and its two-hundred day moving average price is $301.91. Trane Technologies plc has a 12 month low of $184.02 and a 12 month high of $347.33.

Trane Technologies (NYSE:TT) last issued its earnings results on Tuesday, April 30th. The company reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.30. The firm had revenue of $4.22 billion for the quarter, compared to analysts’ expectations of $3.99 billion. Trane Technologies had a return on equity of 32.78% and a net margin of 11.81%. The company’s revenue was up 15.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.41 earnings per share. Sell-side analysts forecast that Trane Technologies plc will post 10.49 earnings per share 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 issued a $0.84 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $3.36 annualized dividend and a dividend yield of 1.04%. Trane Technologies’s dividend payout ratio (DPR) is currently 35.90%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on TT shares. Mizuho lifted their target price on shares of Trane Technologies from $280.00 to $325.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. JPMorgan Chase & Co. raised their target price on Trane Technologies from $247.00 to $300.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. TD Cowen upped their price target on Trane Technologies from $325.00 to $360.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. UBS Group raised their price objective on shares of Trane Technologies from $330.00 to $375.00 and gave the stock a “buy” rating in a research note on Monday, June 3rd. Finally, Stephens upped their target price on shares of Trane Technologies from $310.00 to $320.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $312.36.

About Trane Technologies

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.