South Shore Capital Advisors Buys Shares of 1,466 Trane Technologies plc $TT

South Shore Capital Advisors bought a new stake in shares of Trane Technologies plc (NYSE:TT) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,466 shares of the company’s stock, valued at approximately $570,000.

A number of other institutional investors have also modified their holdings of TT. JPMorgan Chase & Co. boosted its holdings in shares of Trane Technologies by 10.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 15,525,010 shares of the company’s stock valued at $6,550,975,000 after buying an additional 1,433,563 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in shares of Trane Technologies by 229.3% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,752,551 shares of the company’s stock valued at $766,583,000 after buying an additional 1,220,388 shares in the last quarter. Corient Private Wealth LLC boosted its holdings in shares of Trane Technologies by 135.4% in the 2nd quarter. Corient Private Wealth LLC now owns 735,589 shares of the company’s stock valued at $321,757,000 after buying an additional 423,090 shares in the last quarter. SG Americas Securities LLC boosted its holdings in shares of Trane Technologies by 13,460.8% in the 4th quarter. SG Americas Securities LLC now owns 423,504 shares of the company’s stock valued at $164,828,000 after buying an additional 420,381 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its holdings in shares of Trane Technologies by 40.2% in the 2nd quarter. Lazard Asset Management LLC now owns 1,135,906 shares of the company’s stock valued at $496,855,000 after buying an additional 325,853 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors.

Trane Technologies Stock Up 0.9%

TT stock opened at $430.71 on Tuesday. The firm has a 50 day moving average of $437.48 and a 200 day moving average of $418.44. The stock has a market capitalization of $95.33 billion, a PE ratio of 33.18, a price-to-earnings-growth ratio of 2.25 and a beta of 1.21. The company has a quick ratio of 0.92, a current ratio of 1.25 and a debt-to-equity ratio of 0.46. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $479.37.

Trane Technologies (NYSE:TT) last released its earnings results on Thursday, January 29th. The company reported $2.86 EPS for the quarter, topping analysts’ consensus estimates of $2.81 by $0.05. The company had revenue of $5.14 billion during the quarter, compared to analysts’ expectations of $5.09 billion. Trane Technologies had a net margin of 13.69% and a return on equity of 36.34%. Trane Technologies’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period last year, the business earned $2.61 EPS. Sell-side analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, June 5th will be paid a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a yield of 1.0%. The ex-dividend date is Friday, June 5th. Trane Technologies’s payout ratio is presently 32.36%.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, insider Donald E. Simmons sold 3,762 shares of Trane Technologies stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $422.70, for a total transaction of $1,590,197.40. Following the completion of the sale, the insider directly owned 3,819 shares in the company, valued at approximately $1,614,291.30. The trade was a 49.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO David S. Regnery sold 36,045 shares of Trane Technologies stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $422.69, for a total transaction of $15,235,861.05. Following the sale, the chief executive officer owned 96,948 shares of the company’s stock, valued at approximately $40,978,950.12. The trade was a 27.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 49,378 shares of company stock valued at $21,228,464. 0.14% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on TT. Melius Research upgraded shares of Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 price target on the stock in a report on Wednesday, January 7th. Barclays raised their price target on shares of Trane Technologies from $505.00 to $507.00 and gave the company an “overweight” rating in a report on Friday, January 30th. KeyCorp upgraded shares of Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 target price for the company in a research note on Monday, December 15th. Morgan Stanley lowered their target price on shares of Trane Technologies from $550.00 to $535.00 and set an “overweight” rating for the company in a research note on Tuesday, January 13th. Finally, UBS Group lowered their target price on shares of Trane Technologies from $544.00 to $520.00 and set a “buy” rating for the company in a research note on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Trane Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $484.67.

About Trane Technologies

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.