Minot DeBlois Advisors LLC Buys Shares of 70 Trane Technologies plc (NYSE:TT)

Minot DeBlois Advisors LLC purchased a new position in Trane Technologies plc (NYSE:TT) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 70 shares of the company’s stock, valued at approximately $26,000.

Several other hedge funds also recently made changes to their positions in TT. Secured Retirement Advisors LLC lifted its holdings in shares of Trane Technologies by 0.6% in the fourth quarter. Secured Retirement Advisors LLC now owns 4,628 shares of the company’s stock worth $1,709,000 after buying an additional 28 shares in the last quarter. Catalina Capital Group LLC lifted its stake in Trane Technologies by 3.2% in the 4th quarter. Catalina Capital Group LLC now owns 924 shares of the company’s stock worth $341,000 after purchasing an additional 29 shares in the last quarter. Stratos Wealth Partners LTD. boosted its holdings in Trane Technologies by 0.5% in the 4th quarter. Stratos Wealth Partners LTD. now owns 5,538 shares of the company’s stock valued at $2,046,000 after purchasing an additional 29 shares during the period. Kanawha Capital Management LLC grew its position in shares of Trane Technologies by 0.6% during the 4th quarter. Kanawha Capital Management LLC now owns 4,712 shares of the company’s stock valued at $1,740,000 after purchasing an additional 29 shares in the last quarter. Finally, Kestra Private Wealth Services LLC increased its holdings in shares of Trane Technologies by 0.3% in the fourth quarter. Kestra Private Wealth Services LLC now owns 9,173 shares of the company’s stock worth $3,388,000 after purchasing an additional 30 shares during the period. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Hsbc Global Res upgraded Trane Technologies from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 25th. HSBC raised shares of Trane Technologies from a “hold” rating to a “buy” rating and raised their target price for the company from $405.00 to $415.00 in a research note on Friday, April 25th. Stephens raised shares of Trane Technologies from an “equal weight” rating to an “overweight” rating and set a $475.00 price target for the company in a research note on Thursday, May 1st. Barclays lowered their price objective on shares of Trane Technologies from $500.00 to $475.00 and set an “overweight” rating on the stock in a research report on Monday, March 10th. Finally, Royal Bank of Canada upped their target price on shares of Trane Technologies from $363.00 to $408.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Trane Technologies presently has an average rating of “Moderate Buy” and an average target price of $421.07.

Trane Technologies Price Performance

TT stock opened at $422.17 on Wednesday. The stock has a market capitalization of $94.15 billion, a price-to-earnings ratio of 37.53, a PEG ratio of 2.50 and a beta of 1.14. The firm’s 50-day moving average price is $353.01 and its two-hundred day moving average price is $372.66. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $424.46.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Wednesday, April 30th. The company reported $2.45 EPS for the quarter, beating analysts’ consensus estimates of $2.20 by $0.25. The business had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.46 billion. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. Trane Technologies’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.94 EPS. As a group, equities analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be issued a $0.94 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.76 annualized dividend and a yield of 0.89%. Trane Technologies’s dividend payout ratio (DPR) is presently 31.28%.

Insider Activity

In other news, insider Donald E. Simmons sold 3,571 shares of the business’s stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $380.00, for a total transaction of $1,356,980.00. Following the sale, the insider now owns 3,593 shares in the company, valued at approximately $1,365,340. The trade was a 49.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.38% of the company’s stock.

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.