Pinkerton Retirement Specialists LLC Grows Holdings in Trane Technologies plc (NYSE:TT)

Pinkerton Retirement Specialists LLC increased its position in Trane Technologies plc (NYSE:TT) by 22.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,083 shares of the company’s stock after acquiring an additional 195 shares during the quarter. Pinkerton Retirement Specialists LLC’s holdings in Trane Technologies were worth $325,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Trane Technologies during the 4th quarter valued at approximately $655,804,000. International Assets Investment Management LLC grew its holdings in Trane Technologies by 24,670.7% during 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 buying an additional 1,030,247 shares in the last quarter. TD Asset Management Inc grew its holdings in Trane Technologies by 719.8% during the 4th quarter. TD Asset Management Inc now owns 750,894 shares of the company’s stock valued at $183,143,000 after buying an additional 659,299 shares in the last quarter. Putnam Investments LLC grew its holdings in Trane Technologies by 27,824.4% during the 4th quarter. Putnam Investments LLC now owns 572,730 shares of the company’s stock valued at $139,689,000 after buying an additional 570,679 shares in the last quarter. Finally, Alecta Tjanstepension Omsesidigt purchased a new stake in Trane Technologies during the 4th quarter valued at approximately $97,588,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Robert W. Baird increased their target price on Trane Technologies from $344.00 to $360.00 and gave the company a “neutral” rating in a research report on Monday, July 15th. Citigroup increased their target price on Trane Technologies from $355.00 to $366.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. TD Cowen increased their target price on Trane Technologies from $325.00 to $360.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. The Goldman Sachs Group increased their target price on Trane Technologies from $287.00 to $326.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Finally, Barclays raised their price target on Trane Technologies from $380.00 to $385.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $312.36.

Insider Buying and Selling

In related news, SVP Evan M. Turtz sold 8,988 shares of Trane Technologies stock in a transaction dated 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 completion of the sale, the senior vice president now owns 20,758 shares of the company’s stock, valued at $6,669,545.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Trane Technologies news, CFO Christopher J. Kuehn sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The stock was 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 of the company’s stock, valued at $19,532,240.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Evan M. Turtz sold 8,988 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 20,758 shares of the company’s stock, valued at $6,669,545.40. The disclosure for this sale can be found here. Corporate insiders own 0.38% of the company’s stock.

Trane Technologies Stock Down 0.1 %

TT traded down $0.23 on Friday, hitting $330.14. The company had a trading volume of 1,397,883 shares, compared to its average volume of 1,343,319. Trane Technologies plc has a 12-month low of $184.02 and a 12-month high of $347.33. The stock has a market capitalization of $74.73 billion, a price-to-earnings ratio of 35.27, a P/E/G ratio of 2.56 and a beta of 1.01. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.74 and a current ratio of 1.13. The stock has a fifty day moving average price of $331.65 and a 200-day moving average price of $299.82.

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

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend is Friday, September 6th. Trane Technologies’s dividend payout ratio (DPR) is 35.90%.

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.