Trane Technologies plc (NYSE:TT) Stock Position Raised by Van ECK Associates Corp

Van ECK Associates Corp raised its position in shares of Trane Technologies plc (NYSE:TT) by 5.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,127 shares of the company’s stock after purchasing an additional 2,384 shares during the period. Van ECK Associates Corp’s holdings in Trane Technologies were worth $12,947,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GoalVest Advisory LLC grew its holdings in Trane Technologies by 157.1% in the 1st 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. acquired a new stake in shares of Trane Technologies during the 1st quarter worth approximately $27,000. BKM Wealth Management LLC acquired a new stake in shares of Trane Technologies during the 4th quarter worth approximately $25,000. Sachetta LLC acquired a new stake in shares of Trane Technologies during the 4th quarter worth approximately $27,000. Finally, Motco acquired a new stake in shares of Trane Technologies during the 4th quarter worth approximately $27,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Trading Up 0.1 %

Shares of TT stock traded up $0.47 on Friday, reaching $331.76. 563,922 shares of the stock were exchanged, compared to its average volume of 1,087,612. The stock has a market cap of $75.09 billion, a PE ratio of 35.39, a P/E/G ratio of 2.57 and a beta of 1.01. Trane Technologies plc has a one year low of $184.02 and a one year high of $345.46. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.13 and a quick ratio of 0.74. The stock has a 50 day moving average price of $327.78 and a 200 day moving average price of $292.16.

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

Trane Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be paid a dividend of $0.84 per share. The ex-dividend date is Friday, September 6th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.01%. Trane Technologies’s dividend payout ratio (DPR) is presently 35.90%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on TT shares. Citigroup lifted their price objective on Trane Technologies from $355.00 to $366.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Mizuho boosted their price target on Trane Technologies from $280.00 to $325.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Wells Fargo & Company boosted their price target on Trane Technologies from $281.00 to $295.00 and gave the company an “underweight” rating in a research note on Thursday, May 2nd. UBS Group lifted their price objective on Trane Technologies from $330.00 to $375.00 and gave the company a “buy” rating in a research report on Monday, June 3rd. Finally, The Goldman Sachs Group lifted their price objective on Trane Technologies from $287.00 to $326.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $309.79.

Insider Buying and Selling

In related news, CFO Christopher J. Kuehn sold 4,000 shares of Trane Technologies stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $318.67, for a total transaction of $1,274,680.00. Following the completion of the sale, the chief financial officer now directly owns 61,293 shares of the company’s stock, valued at $19,532,240.31. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Trane Technologies news, SVP Evan M. Turtz sold 8,988 shares of the business’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $321.30, for a total value 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 $6,669,545.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Christopher J. Kuehn sold 4,000 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 61,293 shares of the company’s stock, valued at $19,532,240.31. The disclosure for this sale can be found here. 0.38% of the stock is owned by insiders.

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.