Mediolanum International Funds Ltd Buys 6,778 Shares of Trane Technologies plc $TT

Mediolanum International Funds Ltd increased its stake in Trane Technologies plc (NYSE:TT) by 17.7% in the first quarter, Holdings Channel.com reports. The firm owned 45,030 shares of the company’s stock after purchasing an additional 6,778 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Trane Technologies were worth $18,189,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Trane Technologies by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 20,020,321 shares of the company’s stock valued at $7,791,909,000 after purchasing an additional 192,270 shares in the last quarter. State Street Corp grew its holdings in shares of Trane Technologies by 0.6% during the fourth quarter. State Street Corp now owns 10,113,123 shares of the company’s stock worth $3,936,034,000 after buying an additional 61,393 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Trane Technologies by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 5,071,072 shares of the company’s stock worth $1,964,896,000 after buying an additional 14,179 shares in the last quarter. Norges Bank acquired a new stake in Trane Technologies in the 4th quarter valued at approximately $1,163,124,000. Finally, Nordea Investment Management AB raised its position in Trane Technologies by 2.9% in the 4th quarter. Nordea Investment Management AB now owns 2,586,506 shares of the company’s stock valued at $1,010,419,000 after buying an additional 72,998 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Insider Activity at Trane Technologies

In other news, insider Donald E. Simmons sold 4,593 shares of Trane Technologies stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $500.00, for a total value of $2,296,500.00. Following the completion of the transaction, the insider owned 3,819 shares of the company’s stock, valued at $1,909,500. This trade represents a 54.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on TT shares. Sanford C. Bernstein set a $555.00 price target on Trane Technologies in a research report on Thursday, July 9th. JPMorgan Chase & Co. lifted their price objective on shares of Trane Technologies from $460.00 to $476.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. KeyCorp boosted their price objective on shares of Trane Technologies from $525.00 to $555.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Evercore initiated coverage on shares of Trane Technologies in a report on Monday, April 13th. They set an “outperform” rating and a $535.00 target price for the company. Finally, BNP Paribas Exane started coverage on shares of Trane Technologies in a research report on Tuesday, April 14th. They issued an “outperform” rating and a $550.00 target price for the company. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Trane Technologies has an average rating of “Moderate Buy” and an average price target of $516.67.

Trane Technologies Trading Down 0.1%

Shares of Trane Technologies stock opened at $469.59 on Monday. Trane Technologies plc has a 12-month low of $348.06 and a 12-month high of $505.87. The stock has a market cap of $103.80 billion, a P/E ratio of 36.32, a P/E/G ratio of 2.16 and a beta of 1.19. The company has a quick ratio of 0.77, a current ratio of 1.10 and a debt-to-equity ratio of 0.46. The business’s 50 day moving average is $469.88 and its 200-day moving average is $447.36.

Trane Technologies (NYSE:TT) last released its earnings results on Friday, May 1st. The company reported $2.63 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.10. The business had revenue of $4.97 billion during the quarter, compared to analysts’ expectations of $4.81 billion. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The firm’s revenue was up 6.0% on a year-over-year basis. During the same period last year, the business earned $2.45 earnings per share. Equities research analysts predict that Trane Technologies plc will post 14.89 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, September 4th will be paid a $1.05 dividend. The ex-dividend date is Friday, September 4th. This represents a $4.20 dividend on an annualized basis and a yield of 0.9%. Trane Technologies’s dividend payout ratio (DPR) is currently 32.48%.

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.