NorthRock Partners LLC Has $735,000 Stock Holdings in Trane Technologies plc (NYSE:TT)

NorthRock Partners LLC raised its holdings in Trane Technologies plc (NYSE:TT) by 244.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,990 shares of the company’s stock after buying an additional 1,413 shares during the period. NorthRock Partners LLC’s holdings in Trane Technologies were worth $735,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in TT. Nuveen Asset Management LLC lifted its position in Trane Technologies by 1.6% in the 4th quarter. Nuveen Asset Management LLC now owns 2,332,626 shares of the company’s stock valued at $861,555,000 after acquiring an additional 37,389 shares in the last quarter. Occudo Quantitative Strategies LP purchased a new stake in shares of Trane Technologies in the fourth quarter worth approximately $3,690,000. Minot DeBlois Advisors LLC bought a new position in shares of Trane Technologies in the fourth quarter valued at approximately $26,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Trane Technologies by 5.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 930,713 shares of the company’s stock valued at $343,760,000 after buying an additional 49,658 shares during the last quarter. Finally, MJP Associates Inc. ADV grew its holdings in Trane Technologies by 6.5% during the fourth quarter. MJP Associates Inc. ADV now owns 700 shares of the company’s stock worth $259,000 after buying an additional 43 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Trane Technologies Price Performance

Shares of NYSE TT opened at $421.88 on Friday. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. The stock has a fifty day simple moving average of $356.17 and a two-hundred day simple moving average of $373.18. Trane Technologies plc has a 1-year low of $298.15 and a 1-year high of $424.46. The firm has a market cap of $94.09 billion, a price-to-earnings ratio of 37.50, a price-to-earnings-growth ratio of 2.50 and a beta of 1.14.

Trane Technologies (NYSE:TT) last issued 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. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. The firm had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $4.46 billion. During the same quarter in the prior year, the firm earned $1.94 EPS. The business’s revenue for the quarter was up 11.2% compared to the same quarter last year. Analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be paid a $0.94 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.76 annualized dividend and a dividend yield of 0.89%. Trane Technologies’s payout ratio is 31.28%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. HSBC upgraded Trane Technologies from a “hold” rating to a “buy” rating and raised their price objective for the company from $405.00 to $415.00 in a research note on Friday, April 25th. Royal Bank of Canada boosted their price target on shares of Trane Technologies from $363.00 to $408.00 and gave the stock a “sector perform” rating in a report on Thursday, May 1st. UBS Group reduced their price objective on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Hsbc Global Res raised shares of Trane Technologies from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 25th. Finally, Wells Fargo & Company upped their target price on Trane Technologies from $330.00 to $370.00 and gave the company an “underweight” rating in a report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Trane Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $421.07.

Insider Activity

In related news, insider Donald E. Simmons sold 3,571 shares of the business’s stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $380.00, for a total transaction of $1,356,980.00. Following the sale, the insider now directly owns 3,593 shares in the company, valued at approximately $1,365,340. The trade was a 49.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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.