Bowman & Co S.C. Buys 542 Shares of Trane Technologies plc (NYSE:TT)

Bowman & Co S.C. grew its holdings in shares of Trane Technologies plc (NYSE:TT) by 9.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,315 shares of the company’s stock after acquiring an additional 542 shares during the quarter. Trane Technologies accounts for approximately 1.2% of Bowman & Co S.C.’s holdings, making the stock its 21st biggest holding. Bowman & Co S.C.’s holdings in Trane Technologies were worth $2,077,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Diversified LLC bought a new stake in shares of Trane Technologies during the 2nd quarter valued at $356,000. My Legacy Advisors LLC purchased a new position in Trane Technologies in the 2nd quarter worth about $1,996,000. &PARTNERS increased its position in shares of Trane Technologies by 67.2% during the 2nd quarter. &PARTNERS now owns 1,654 shares of the company’s stock valued at $544,000 after purchasing an additional 665 shares during the last quarter. Vinland Capital Management Gestora de Recursos LTDA. increased its position in shares of Trane Technologies by 28.2% during the 2nd quarter. Vinland Capital Management Gestora de Recursos LTDA. now owns 6,530 shares of the company’s stock valued at $2,148,000 after purchasing an additional 1,435 shares during the last quarter. Finally, KG&L Capital Management LLC purchased a new stake in shares of Trane Technologies during the 2nd quarter valued at about $214,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TT has been the subject of several analyst reports. UBS Group increased their target price 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. Stephens restated an “equal weight” rating and issued a $350.00 target price on shares of Trane Technologies in a report on Monday, August 5th. Barclays raised their price target on shares of Trane Technologies from $385.00 to $394.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. The Goldman Sachs Group raised their target price on shares of Trane Technologies from $287.00 to $326.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Finally, Royal Bank of Canada raised their target price on shares of Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Trane Technologies presently has an average rating of “Hold” and an average target price of $323.29.

Insider Activity

In related news, CFO Christopher J. Kuehn sold 4,000 shares of the company’s 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 transaction, the chief financial officer now directly owns 61,293 shares in the company, valued at approximately $19,532,240.31. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Trane Technologies news, CFO Christopher J. Kuehn sold 4,000 shares of the business’s 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 transaction, the chief financial officer now owns 61,293 shares in the company, valued at approximately $19,532,240.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David S. Regnery sold 29,450 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $321.25, for a total value 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 approximately $42,708,902.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 44,243 shares of company stock worth $14,216,550. 0.38% of the stock is currently owned by insiders.

Trane Technologies Stock Performance

Shares of NYSE TT traded up $2.20 during mid-day trading on Friday, hitting $352.91. 769,550 shares of the company were exchanged, compared to its average volume of 1,121,324. Trane Technologies plc has a 1-year low of $184.02 and a 1-year high of $355.02. The company has a quick ratio of 0.74, a current ratio of 1.17 and a debt-to-equity ratio of 0.62. The stock has a 50 day simple moving average of $335.48 and a 200-day simple moving average of $314.22. The firm 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.

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

Trane Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be issued a $0.84 dividend. The ex-dividend date is Friday, September 6th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.95%. Trane Technologies’s dividend payout ratio (DPR) is 35.90%.

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.