Nemes Rush Group LLC Has $12.75 Million Stock Holdings in Trane Technologies plc (NYSE:TT)

Nemes Rush Group LLC grew its stake in shares of Trane Technologies plc (NYSE:TT) by 3.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 34,524 shares of the company’s stock after acquiring an additional 1,004 shares during the period. Trane Technologies accounts for 1.6% of Nemes Rush Group LLC’s investment portfolio, making the stock its 17th biggest holding. Nemes Rush Group LLC’s holdings in Trane Technologies were worth $12,751,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Norges Bank purchased a new position in Trane Technologies in the fourth quarter valued at about $1,117,816,000. Raymond James Financial Inc. bought a new stake in shares of Trane Technologies in the 4th quarter valued at approximately $611,322,000. Bank Julius Baer & Co. Ltd Zurich increased its holdings in Trane Technologies by 455.2% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 427,226 shares of the company’s stock worth $167,977,000 after buying an additional 350,277 shares during the last quarter. Nordea Investment Management AB raised its position in Trane Technologies by 42.9% during the fourth quarter. Nordea Investment Management AB now owns 978,275 shares of the company’s stock valued at $361,874,000 after acquiring an additional 293,916 shares in the last quarter. Finally, Caisse Des Depots ET Consignations acquired a new stake in Trane Technologies in the fourth quarter valued at approximately $98,560,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Trane Technologies Stock Up 1.6 %

Shares of NYSE:TT opened at $337.21 on Tuesday. Trane Technologies plc has a 12 month low of $286.32 and a 12 month high of $422.00. The firm has a market cap of $75.63 billion, a P/E ratio of 29.97, a P/E/G ratio of 2.50 and a beta of 1.08. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. The company’s 50-day moving average price is $356.79 and its two-hundred day moving average price is $379.99.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, beating analysts’ consensus estimates of $2.52 by $0.09. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. As a group, research analysts forecast that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 7th were issued a $0.94 dividend. This is a boost from Trane Technologies’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend was Friday, March 7th. This represents a $3.76 annualized dividend and a yield of 1.12%. Trane Technologies’s dividend payout ratio (DPR) is currently 33.42%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on TT shares. UBS Group reduced their price target on Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Royal Bank of Canada boosted their price objective on shares of Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a report on Friday, January 3rd. Melius lowered shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price objective for the company. in a research report on Tuesday, January 28th. JPMorgan Chase & Co. lifted their price target on shares of Trane Technologies from $387.00 to $396.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Finally, Citigroup reduced their price objective on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Trane Technologies currently has a consensus rating of “Hold” and a consensus price target of $413.69.

Insider Buying and Selling

In related news, CFO Christopher J. Kuehn sold 770 shares of Trane Technologies stock in a transaction on Monday, February 10th. The stock was sold at an average price of $358.39, for a total transaction of $275,960.30. Following the completion of the sale, the chief financial officer now directly owns 62,221 shares of the company’s stock, valued at $22,299,384.19. The trade was a 1.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Mairead Magner sold 198 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total value of $70,806.78. Following the completion of the transaction, the senior vice president now directly owns 13,401 shares in the company, valued at $4,792,331.61. The trade was a 1.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,234 shares of company stock worth $2,588,102 over the last three months. 0.38% of the stock is currently owned by company insiders.

Trane Technologies 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.