Cedrus LLC Purchases 43 Shares of Trane Technologies plc (NYSE:TT)

Cedrus LLC raised its position in Trane Technologies plc (NYSE:TT) by 2.6% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 1,669 shares of the company’s stock after acquiring an additional 43 shares during the period. Cedrus LLC’s holdings in Trane Technologies were worth $407,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Trane Technologies during the 4th quarter worth approximately $526,026,000. Moneta Group Investment Advisors LLC raised its stake in shares of Trane Technologies by 109,668.5% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 1,963,758 shares of the company’s stock worth $330,088,000 after purchasing an additional 1,961,969 shares in the last quarter. First Trust Advisors LP raised its stake in shares of Trane Technologies by 2,606.5% during the 1st quarter. First Trust Advisors LP now owns 1,081,171 shares of the company’s stock worth $165,095,000 after purchasing an additional 1,041,224 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of 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 worth $252,296,000 after purchasing an additional 1,030,247 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Trane Technologies by 5.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 17,085,662 shares of the company’s stock worth $3,466,852,000 after purchasing an additional 880,583 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TT. Stephens boosted their target price on Trane Technologies from $235.00 to $280.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 6th. The Goldman Sachs Group boosted their target price on Trane Technologies from $253.00 to $287.00 and gave the stock a “neutral” rating in a report on Monday, February 5th. Wells Fargo & Company boosted their target price on Trane Technologies from $200.00 to $246.00 and gave the stock an “underweight” rating in a report on Tuesday, December 19th. Barclays boosted their target price on Trane Technologies from $286.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. Finally, Citigroup boosted their target price on Trane Technologies from $309.00 to $355.00 and gave the stock a “buy” rating in a report on Monday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $246.54.

Trane Technologies Stock Performance

NYSE:TT opened at $297.26 on Friday. The stock has a fifty day moving average price of $287.27 and a 200-day moving average price of $247.07. The company has a market cap of $67.50 billion, a price-to-earnings ratio of 33.82, a PEG ratio of 2.52 and a beta of 1.05. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.78 and a current ratio of 1.13. Trane Technologies plc has a fifty-two week low of $162.04 and a fifty-two week high of $306.98.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Thursday, February 1st. The company reported $2.17 earnings per share for the quarter, topping the consensus estimate of $2.13 by $0.04. Trane Technologies had a return on equity of 32.01% and a net margin of 11.45%. The business had revenue of $4.42 billion during the quarter, compared to the consensus estimate of $4.43 billion. During the same period in the prior year, the company earned $1.82 EPS. Trane Technologies’s revenue for the quarter was up 8.6% on a year-over-year basis. As a group, equities analysts anticipate that Trane Technologies plc will post 10.2 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be given a $0.84 dividend. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $3.36 annualized dividend and a yield of 1.13%. Trane Technologies’s dividend payout ratio is presently 38.23%.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, SVP Evan M. Turtz sold 2,821 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $288.33, for a total value of $813,378.93. Following the completion of the transaction, the senior vice president now directly owns 20,729 shares in the company, valued at $5,976,792.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Evan M. Turtz sold 2,821 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $288.33, for a total value of $813,378.93. Following the completion of the sale, the senior vice president now owns 20,729 shares of the company’s stock, valued at $5,976,792.57. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Keith A. Sultana sold 1,637 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $267.74, for a total value of $438,290.38. Following the completion of the sale, the senior vice president now directly owns 42,374 shares of the company’s stock, valued at approximately $11,345,214.76. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,874 shares of company stock worth $8,462,825. 0.39% of the stock is currently owned by 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.