Hemenway Trust Co LLC Purchases Shares of 700 Trane Technologies plc (NYSE:TT)

Hemenway Trust Co LLC purchased a new stake in Trane Technologies plc (NYSE:TT) during the 1st quarter, Holdings Channel.com reports. The firm purchased 700 shares of the company’s stock, valued at approximately $210,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of TT. Norges Bank acquired a new stake in shares of Trane Technologies in the fourth quarter valued at about $655,804,000. International Assets Investment Management LLC increased its position in shares of Trane Technologies by 24,670.7% in the fourth quarter. International Assets Investment Management LLC now owns 1,034,423 shares of the company’s stock valued at $252,296,000 after acquiring an additional 1,030,247 shares during the last quarter. TD Asset Management Inc increased its position in shares of Trane Technologies by 719.8% in the fourth quarter. TD Asset Management Inc now owns 750,894 shares of the company’s stock valued at $183,143,000 after acquiring an additional 659,299 shares during the last quarter. Putnam Investments LLC increased its position in shares of Trane Technologies by 27,824.4% in the fourth quarter. Putnam Investments LLC now owns 572,730 shares of the company’s stock valued at $139,689,000 after acquiring an additional 570,679 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in shares of Trane Technologies by 36.4% in the third quarter. Wellington Management Group LLP now owns 1,639,058 shares of the company’s stock valued at $332,581,000 after acquiring an additional 436,997 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Stock Performance

Shares of NYSE:TT traded up $3.73 during trading on Thursday, reaching $344.55. 904,458 shares of the stock were exchanged, compared to its average volume of 1,088,225. Trane Technologies plc has a 12 month low of $184.02 and a 12 month high of $347.20. The firm has a market cap of $77.99 billion, a PE ratio of 36.81, a PEG ratio of 2.58 and a beta of 1.01. The stock has a 50-day moving average price of $330.38 and a 200-day moving average price of $295.48. 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 (NYSE:TT) last released its quarterly earnings results on Tuesday, April 30th. The company reported $1.94 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.30. Trane Technologies had a net margin of 11.81% and a return on equity of 32.78%. The company had revenue of $4.22 billion during the quarter, compared to the consensus estimate of $3.99 billion. During the same period in the previous year, the business earned $1.41 earnings per share. The firm’s quarterly revenue was up 15.0% on a year-over-year basis. Research analysts expect that Trane Technologies plc will post 10.48 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be issued a dividend of $0.84 per share. The ex-dividend date is Friday, September 6th. This represents a $3.36 annualized dividend and a dividend yield of 0.98%. Trane Technologies’s dividend payout ratio (DPR) is presently 35.90%.

Insider Transactions at Trane Technologies

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

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on TT. Mizuho lifted their target price on Trane Technologies from $280.00 to $325.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Barclays lifted their price target on Trane Technologies from $380.00 to $385.00 and gave the stock an “overweight” rating in a report on Wednesday. Wells Fargo & Company lifted their price target on Trane Technologies from $295.00 to $310.00 and gave the stock an “underweight” rating in a report on Wednesday. Robert W. Baird lifted their price target on Trane Technologies from $315.00 to $344.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Finally, TD Cowen lifted their price target on Trane Technologies from $325.00 to $360.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $311.21.

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.