Van Lanschot Kempen Investment Management N.V. Has $3.81 Million Stock Position in Trane Technologies plc (NYSE:TT)

Van Lanschot Kempen Investment Management N.V. lifted its stake in Trane Technologies plc (NYSE:TT) by 43.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,579 shares of the company’s stock after acquiring an additional 3,527 shares during the period. Van Lanschot Kempen Investment Management N.V.’s holdings in Trane Technologies were worth $3,809,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Motco bought a new position in shares of Trane Technologies during the fourth quarter valued at $27,000. Sachetta LLC bought a new position in shares of Trane Technologies in the fourth quarter valued at about $27,000. GoalVest Advisory LLC raised its holdings in shares of Trane Technologies by 157.1% in the first quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock valued at $27,000 after buying an additional 55 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. bought a new position in shares of Trane Technologies in the first quarter valued at about $27,000. Finally, BOK Financial Private Wealth Inc. bought a new position in shares of Trane Technologies in the first quarter valued at about $30,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Stock Up 0.6 %

Shares of NYSE:TT traded up $2.20 during trading on Friday, hitting $352.91. 871,002 shares of the company’s stock traded hands, compared to its average volume of 1,121,324. Trane Technologies plc has a 52 week low of $184.02 and a 52 week high of $355.02. The company has a current ratio of 1.17, a quick ratio of 0.74 and a debt-to-equity ratio of 0.62. The company has a market cap of $79.88 billion, a price-to-earnings ratio of 37.70, a price-to-earnings-growth ratio of 2.50 and a beta of 1.01. The company has a 50-day moving average price of $335.48 and a 200-day moving average price of $314.22.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Wednesday, July 31st. The company reported $3.30 earnings per share for the quarter, beating the consensus estimate of $3.08 by $0.22. The business had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.13 billion. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. Trane Technologies’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.68 EPS. As a group, research analysts forecast that Trane Technologies plc will post 10.83 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently announced 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 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend is Friday, September 6th. Trane Technologies’s payout ratio is 35.90%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Robert W. Baird lifted their price objective on Trane Technologies from $360.00 to $365.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Stephens reiterated an “equal weight” rating and issued a $350.00 price objective on shares of Trane Technologies in a research report on Monday, August 5th. The Goldman Sachs Group lifted their price objective on Trane Technologies from $287.00 to $326.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Citigroup boosted their target price on Trane Technologies from $355.00 to $366.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Finally, Royal Bank of Canada boosted their target price on Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Trane Technologies has a consensus rating of “Hold” and an average target price of $323.29.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, EVP Raymond D. Pittard sold 1,805 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total value of $593,213.25. Following the sale, the executive vice president now owns 83,517 shares in the company, valued at approximately $27,447,862.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Raymond D. Pittard sold 1,805 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total transaction of $593,213.25. Following the sale, the executive vice president now owns 83,517 shares in the company, valued at approximately $27,447,862.05. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Christopher J. Kuehn sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $318.67, for a total value of $1,274,680.00. Following the sale, the chief financial officer now owns 61,293 shares in the company, valued at approximately $19,532,240.31. The disclosure for this sale can be found here. In the last quarter, insiders have sold 44,243 shares of company stock worth $14,216,550. Corporate insiders own 0.38% of the company’s stock.

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.