HM Payson & Co. Purchases 400 Shares of Trane Technologies plc (NYSE:TT)

HM Payson & Co. grew its position in shares of Trane Technologies plc (NYSE:TT) by 4.6% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 9,182 shares of the company’s stock after acquiring an additional 400 shares during the quarter. HM Payson & Co.’s holdings in Trane Technologies were worth $2,756,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Center for Financial Planning Inc. increased its stake in shares of Trane Technologies by 1.7% in the 1st quarter. Center for Financial Planning Inc. now owns 2,080 shares of the company’s stock worth $624,000 after purchasing an additional 34 shares in the last quarter. Keel Point LLC increased its stake in Trane Technologies by 3.0% in the 4th quarter. Keel Point LLC now owns 1,326 shares of the company’s stock worth $323,000 after buying an additional 39 shares in the last quarter. Dorsey & Whitney Trust CO LLC increased its stake in Trane Technologies by 2.3% in the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 1,760 shares of the company’s stock worth $528,000 after buying an additional 39 shares in the last quarter. Level Four Advisory Services LLC increased its stake in Trane Technologies by 1.5% in the 4th quarter. Level Four Advisory Services LLC now owns 2,757 shares of the company’s stock worth $672,000 after buying an additional 42 shares in the last quarter. Finally, Cedrus LLC increased its stake in Trane Technologies by 2.6% in the 4th quarter. Cedrus LLC now owns 1,669 shares of the company’s stock worth $407,000 after buying an additional 43 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Mizuho increased their price objective on shares of Trane Technologies from $280.00 to $325.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Stephens increased their price objective on shares of Trane Technologies from $310.00 to $320.00 and gave the company an “equal weight” rating in a report on Wednesday, May 1st. Robert W. Baird increased their price objective on shares of Trane Technologies from $360.00 to $365.00 and gave the company a “neutral” rating in a report on Thursday. TD Cowen increased their price objective on shares of Trane Technologies from $325.00 to $360.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Finally, 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 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $321.14.

Trane Technologies Trading Down 4.5 %

NYSE TT traded down $14.88 during trading on Friday, hitting $318.45. The stock had a trading volume of 2,070,074 shares, compared to its average volume of 1,336,537. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.74 and a current ratio of 1.17. The stock has a market capitalization of $71.86 billion, a price-to-earnings ratio of 34.02, a P/E/G ratio of 2.50 and a beta of 1.01. Trane Technologies plc has a one year low of $184.02 and a one year high of $351.41. The stock has a 50 day simple moving average of $331.66 and a 200 day simple moving average of $305.97.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $3.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.08 by $0.22. The business had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.13 billion. Trane Technologies had a net margin of 12.33% and a return on equity of 33.97%. The firm’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter last year, the firm earned $2.68 earnings per share. Sell-side analysts predict that Trane Technologies plc will post 10.83 earnings per share for the current year.

Trane Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be paid a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 1.06%. The ex-dividend date is Friday, September 6th. Trane Technologies’s payout ratio is currently 35.90%.

Insiders Place Their Bets

In other news, CFO Christopher J. Kuehn sold 4,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 61,293 shares of the company’s stock, valued at $19,532,240.31. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CFO Christopher J. Kuehn sold 4,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 61,293 shares of the company’s stock, valued at $19,532,240.31. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Evan M. Turtz sold 8,988 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $321.30, for a total transaction of $2,887,844.40. Following the transaction, 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 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.