Financiere des Professionnels Fonds d investissement inc. Boosts Stock Position in Trane Technologies plc $TT

Financiere des Professionnels Fonds d investissement inc. lifted its stake in shares of Trane Technologies plc (NYSE:TT) by 295.2% in the first quarter, HoldingsChannel reports. The fund owned 13,212 shares of the company’s stock after acquiring an additional 9,869 shares during the period. Financiere des Professionnels Fonds d investissement inc.’s holdings in Trane Technologies were worth $5,506,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TT. Tucker Asset Management LLC purchased a new position in Trane Technologies during the fourth quarter valued at approximately $25,000. JPL Wealth Management LLC purchased a new stake in shares of Trane Technologies in the third quarter worth $32,000. Physician Wealth Advisors Inc. increased its stake in shares of Trane Technologies by 192.6% in the first quarter. Physician Wealth Advisors Inc. now owns 79 shares of the company’s stock worth $33,000 after purchasing an additional 52 shares in the last quarter. Frazier Financial Advisors LLC bought a new stake in shares of Trane Technologies during the 1st quarter valued at $33,000. Finally, Hilton Head Capital Partners LLC purchased a new position in shares of Trane Technologies during the 4th quarter valued at $32,000. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Performance

Shares of NYSE TT opened at $475.00 on Friday. The company has a market cap of $105.00 billion, a P/E ratio of 36.74, a P/E/G ratio of 2.21 and a beta of 1.19. Trane Technologies plc has a 52-week low of $348.06 and a 52-week high of $505.87. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.10. The firm’s fifty day moving average is $469.82 and its two-hundred day moving average is $446.82.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Friday, May 1st. The company reported $2.63 EPS for the quarter, beating the consensus estimate of $2.53 by $0.10. The business had revenue of $4.97 billion during the quarter, compared to the consensus estimate of $4.81 billion. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The business’s revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.45 EPS. As a group, analysts anticipate that Trane Technologies plc will post 14.89 EPS for the current fiscal year.

Trane Technologies Announces Dividend

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

Analyst Ratings Changes

Several research analysts recently weighed in on TT shares. Barclays upped their target price on shares of Trane Technologies from $507.00 to $585.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. KeyCorp boosted their price objective on Trane Technologies from $525.00 to $555.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. JPMorgan Chase & Co. upped their price objective on Trane Technologies from $460.00 to $476.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. Citigroup increased their target price on Trane Technologies from $525.00 to $570.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Finally, BNP Paribas Exane assumed coverage on Trane Technologies in a research note on Tuesday, April 14th. They set an “outperform” rating and a $550.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $516.67.

Insider Buying and Selling

In other Trane Technologies news, insider Donald E. Simmons sold 4,593 shares of the firm’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $500.00, for a total transaction of $2,296,500.00. Following the completion of the transaction, the insider owned 3,819 shares in the company, valued at $1,909,500. This trade represents a 54.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.43% of the company’s stock.

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.