Renaissance Investment Group LLC Buys 6,521 Shares of Trane Technologies plc (NYSE:TT)

Renaissance Investment Group LLC boosted its stake in Trane Technologies plc (NYSE:TT) by 38.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,660 shares of the company’s stock after acquiring an additional 6,521 shares during the period. Trane Technologies accounts for approximately 1.9% of Renaissance Investment Group LLC’s holdings, making the stock its 26th biggest holding. Renaissance Investment Group LLC’s holdings in Trane Technologies were worth $9,197,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. GoalVest Advisory LLC boosted its holdings in Trane Technologies by 157.1% in the first quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock valued at $27,000 after acquiring an additional 55 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. purchased a new position in Trane Technologies during the first quarter valued at $27,000. BOK Financial Private Wealth Inc. purchased a new position in Trane Technologies during the first quarter valued at $30,000. Fortitude Family Office LLC lifted its position in Trane Technologies by 63.2% during the second quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock valued at $37,000 after buying an additional 43 shares during the period. Finally, Triad Wealth Partners LLC purchased a new position in Trane Technologies during the second quarter valued at $39,000. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Up 1.6 %

Shares of TT opened at $399.86 on Friday. The business’s 50 day simple moving average is $361.78 and its 200-day simple moving average is $335.96. Trane Technologies plc has a 1 year low of $184.02 and a 1 year high of $400.29. The stock has a market capitalization of $90.24 billion, a price-to-earnings ratio of 39.55, a price-to-earnings-growth ratio of 2.75 and a beta of 1.01. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.17 and a quick ratio of 0.84.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Wednesday, July 31st. The company reported $3.30 earnings per share for the quarter, beating the consensus estimate of $3.08 by $0.22. The company had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.13 billion. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. Trane Technologies’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.68 EPS. As a group, equities analysts expect that Trane Technologies plc will post 10.88 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend is Friday, December 6th. Trane Technologies’s payout ratio is 33.23%.

Insider Transactions at Trane Technologies

In related news, EVP Raymond D. Pittard sold 1,805 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total transaction of $593,213.25. Following the sale, the executive vice president now owns 83,517 shares of the company’s stock, valued at $27,447,862.05. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, EVP Raymond D. Pittard sold 1,805 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total transaction of $593,213.25. Following the sale, the executive vice president now owns 83,517 shares of the company’s stock, valued at $27,447,862.05. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO David S. Regnery sold 29,450 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $321.25, for a total value of $9,460,812.50. Following the completion of the sale, the chief executive officer now owns 132,946 shares of the company’s stock, valued at approximately $42,708,902.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

TT has been the subject of several recent research reports. Morgan Stanley assumed coverage on Trane Technologies in a research report on Friday, September 6th. They set an “overweight” rating and a $425.00 price objective for the company. Wells Fargo & Company lifted their price target on Trane Technologies from $320.00 to $360.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. Royal Bank of Canada lifted their price target on Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 1st. Robert W. Baird lifted their price target on Trane Technologies from $360.00 to $365.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Finally, Barclays boosted their price target on Trane Technologies from $394.00 to $425.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $367.33.

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.