Westfield Capital Management Co. LP Has $45.99 Million Holdings in Trane Technologies plc $TT

Westfield Capital Management Co. LP grew its holdings in Trane Technologies plc (NYSE:TT) by 642.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 118,163 shares of the company’s stock after acquiring an additional 102,247 shares during the quarter. Westfield Capital Management Co. LP’s holdings in Trane Technologies were worth $45,989,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TT. Tucker Asset Management LLC acquired a new stake in shares of Trane Technologies in the fourth quarter valued at approximately $25,000. JPL Wealth Management LLC bought a new position in shares of Trane Technologies in the third quarter valued at $32,000. Creative Financial Designs Inc. ADV grew its stake in shares of Trane Technologies by 119.5% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 90 shares of the company’s stock valued at $35,000 after buying an additional 49 shares in the last quarter. KERR FINANCIAL PLANNING Corp bought a new position in shares of Trane Technologies in the third quarter valued at $42,000. Finally, Hantz Financial Services Inc. grew its stake in shares of Trane Technologies by 58.2% in the third quarter. Hantz Financial Services Inc. now owns 106 shares of the company’s stock valued at $45,000 after buying an additional 39 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on TT. BNP Paribas Exane began coverage on shares of Trane Technologies in a research note on Tuesday, April 14th. They issued an “outperform” rating and a $550.00 target price for the company. Weiss Ratings reissued a “buy (b)” rating on shares of Trane Technologies in a research note on Monday, April 20th. Evercore began coverage on shares of Trane Technologies in a research note on Monday, April 13th. They issued an “outperform” rating and a $535.00 target price for the company. Barclays raised their target price on shares of Trane Technologies from $507.00 to $585.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Finally, JPMorgan Chase & Co. raised their target price on shares of Trane Technologies from $460.00 to $476.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Trane Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $506.56.

Insider Transactions at Trane Technologies

In other news, insider Donald E. Simmons sold 4,593 shares of the business’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $500.00, for a total value of $2,296,500.00. Following the completion of the sale, the insider owned 3,819 shares of the company’s stock, valued at approximately $1,909,500. The trade was a 54.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Christopher J. Kuehn sold 8,619 shares of the business’s stock in a transaction dated Wednesday, April 8th. The shares were sold at an average price of $450.00, for a total transaction of $3,878,550.00. Following the completion of the sale, the chief financial officer directly owned 60,576 shares of the company’s stock, valued at approximately $27,259,200. The trade was a 12.46% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.43% of the company’s stock.

Trane Technologies Trading Down 1.6%

TT stock opened at $456.51 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.10 and a quick ratio of 0.77. The company has a fifty day moving average price of $458.85 and a two-hundred day moving average price of $431.33. Trane Technologies plc has a one year low of $348.06 and a one year high of $503.47. The stock has a market cap of $100.91 billion, a price-to-earnings ratio of 35.31, a price-to-earnings-growth ratio of 2.14 and a beta of 1.20.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Friday, May 1st. The company reported $2.63 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.10. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The firm had revenue of $4.97 billion during the quarter, compared to analysts’ expectations of $4.81 billion. During the same period in the previous year, the business posted $2.45 earnings per share. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. Equities analysts anticipate that Trane Technologies plc will post 14.88 EPS for the current year.

Trane Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 4th will be given a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, September 4th. Trane Technologies’s payout ratio is presently 32.48%.

Trane Technologies Company Profile

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.