Stonebridge Capital Advisors LLC Makes New Investment in Trane Technologies plc (NYSE:TT)

Stonebridge Capital Advisors LLC purchased a new position in Trane Technologies plc (NYSE:TT) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 737 shares of the company’s stock, valued at approximately $221,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Norges Bank purchased a new stake in shares of Trane Technologies in the 4th quarter valued at $655,804,000. International Assets Investment Management LLC boosted its stake in shares of Trane Technologies by 24,670.7% in the 4th quarter. International Assets Investment Management LLC now owns 1,034,423 shares of the company’s stock valued at $252,296,000 after purchasing an additional 1,030,247 shares in the last quarter. TD Asset Management Inc boosted its stake in shares of Trane Technologies by 719.8% in the 4th quarter. TD Asset Management Inc now owns 750,894 shares of the company’s stock valued at $183,143,000 after purchasing an additional 659,299 shares in the last quarter. Putnam Investments LLC boosted its stake in shares of Trane Technologies by 27,824.4% in the 4th quarter. Putnam Investments LLC now owns 572,730 shares of the company’s stock valued at $139,689,000 after purchasing an additional 570,679 shares in the last quarter. Finally, Kodai Capital Management LP purchased a new stake in shares of Trane Technologies in the 4th quarter valued at $77,615,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Trading Up 2.3 %

NYSE TT traded up $7.49 during trading on Friday, hitting $329.71. The company had a trading volume of 1,232,284 shares, compared to its average volume of 1,436,565. The company has a current ratio of 1.13, a quick ratio of 0.74 and a debt-to-equity ratio of 0.58. Trane Technologies plc has a one year low of $184.02 and a one year high of $347.33. The company has a market cap of $74.63 billion, a price-to-earnings ratio of 35.23, a price-to-earnings-growth ratio of 2.49 and a beta of 1.01. The company’s fifty day moving average is $332.14 and its 200-day moving average is $302.65.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.30. The company had revenue of $4.22 billion during the quarter, compared to analyst estimates of $3.99 billion. Trane Technologies had a net margin of 11.81% and a return on equity of 32.78%. Trane Technologies’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same period last year, the business earned $1.41 EPS. On average, sell-side analysts predict that Trane Technologies plc will post 10.49 earnings per share for the current year.

Trane Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be paid a $0.84 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $3.36 annualized dividend and a dividend yield of 1.02%. Trane Technologies’s payout ratio is 35.90%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TT. Stephens upped their price objective on shares of Trane Technologies from $310.00 to $320.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 1st. The Goldman Sachs Group increased their price target 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. UBS Group increased their price target on shares of Trane Technologies from $330.00 to $375.00 and gave the company a “buy” rating in a research report on Monday, June 3rd. Robert W. Baird increased their price target on shares of Trane Technologies from $344.00 to $360.00 and gave the company a “neutral” rating in a research report on Monday, July 15th. Finally, Mizuho increased their price target on shares of Trane Technologies from $280.00 to $325.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Trane Technologies currently has an average rating of “Hold” and a consensus price target of $312.36.

Insider Buying and Selling

In related news, CFO Christopher J. Kuehn sold 4,000 shares of the stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $318.67, for a total value 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 can be accessed through this hyperlink. In related news, CFO Christopher J. Kuehn sold 4,000 shares of the stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $318.67, for a total transaction of $1,274,680.00. Following the sale, the chief financial officer now directly owns 61,293 shares of the company’s stock, valued at approximately $19,532,240.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Evan M. Turtz sold 8,988 shares of the stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $321.30, for a total transaction of $2,887,844.40. Following the sale, the senior vice president now directly owns 20,758 shares in the company, valued at $6,669,545.40. The disclosure for this sale can be found here. 0.38% of the stock is owned by company insiders.

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.