Birchcreek Wealth Management LLC Raises Holdings in Trane Technologies plc (NYSE:TT)

Birchcreek Wealth Management LLC increased its position in Trane Technologies plc (NYSE:TT) by 12.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,709 shares of the company’s stock after buying an additional 187 shares during the period. Birchcreek Wealth Management LLC’s holdings in Trane Technologies were worth $562,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Empowered Funds LLC grew its stake in shares of Trane Technologies by 138.0% in the 1st quarter. Empowered Funds LLC now owns 6,667 shares of the company’s stock worth $2,001,000 after buying an additional 3,866 shares in the last quarter. Nordea Investment Management AB increased its stake in Trane Technologies by 3.0% during the first quarter. Nordea Investment Management AB now owns 453,212 shares of the company’s stock worth $135,796,000 after acquiring an additional 13,078 shares during the last quarter. Sei Investments Co. raised its position in Trane Technologies by 379.2% during the first quarter. Sei Investments Co. now owns 306,165 shares of the company’s stock valued at $91,909,000 after purchasing an additional 242,271 shares during the period. GSA Capital Partners LLP bought a new stake in shares of Trane Technologies in the 4th quarter valued at approximately $3,086,000. Finally, Capital World Investors boosted its holdings in shares of Trane Technologies by 0.6% in the 4th quarter. Capital World Investors now owns 2,176,595 shares of the company’s stock worth $530,870,000 after purchasing an additional 11,930 shares during the period. 82.97% of the stock is owned by institutional investors.

Trane Technologies Trading Up 0.1 %

Shares of NYSE TT opened at $346.53 on Thursday. Trane Technologies plc has a twelve month low of $184.02 and a twelve month high of $363.15. The company has a quick ratio of 0.84, a current ratio of 1.17 and a debt-to-equity ratio of 0.62. The business has a fifty day simple moving average of $338.02 and a two-hundred day simple moving average of $319.06. The firm has a market cap of $78.44 billion, a PE ratio of 37.02, a price-to-earnings-growth ratio of 2.51 and a beta of 1.01.

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, topping analysts’ consensus estimates of $3.08 by $0.22. The company had revenue of $5.31 billion during the quarter, compared to analyst estimates of $5.13 billion. Trane Technologies had a net margin of 12.33% and a return on equity of 33.97%. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.68 earnings per share. Analysts expect that Trane Technologies plc will post 10.82 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

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

Wall Street Analysts Forecast Growth

TT has been the topic of several recent research reports. Wells Fargo & Company increased their price target on Trane Technologies from $310.00 to $315.00 and gave the company an “underweight” rating in a report on Thursday, August 1st. Robert W. Baird raised their target price on shares of Trane Technologies from $360.00 to $365.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Barclays upped their price target on shares of Trane Technologies from $385.00 to $394.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Royal Bank of Canada raised their price objective on shares of Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 1st. Finally, Stephens reaffirmed an “equal weight” rating and set a $350.00 target price on shares of Trane Technologies in a research note on Monday, August 5th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $323.29.

Insiders Place Their Bets

In other news, EVP Raymond D. Pittard sold 1,805 shares of Trane Technologies stock in a transaction 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 transaction, the executive vice president now directly owns 83,517 shares in the company, valued at approximately $27,447,862.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO David S. Regnery sold 29,450 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $321.25, for a total transaction of $9,460,812.50. Following the completion of the sale, the chief executive officer now owns 132,946 shares of the company’s stock, valued at $42,708,902.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Raymond D. Pittard sold 1,805 shares of Trane Technologies stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 83,517 shares in the company, valued at $27,447,862.05. The disclosure for this sale can be found here. 0.38% of the stock is owned by company insiders.

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.