Blue Chip Partners LLC Makes New Investment in Trane Technologies plc (NYSE:TT)

Blue Chip Partners LLC acquired a new stake in Trane Technologies plc (NYSE:TT) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 425 shares of the company’s stock, valued at approximately $104,000.

Several other large investors also recently made changes to their positions in TT. International Assets Investment Management LLC increased its holdings 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 acquiring an additional 1,030,247 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in 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 during the last quarter. FMR LLC grew its holdings in Trane Technologies by 12.4% in the 3rd quarter. FMR LLC now owns 5,743,154 shares of the company’s stock valued at $1,165,343,000 after buying an additional 632,598 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Trane Technologies by 36.4% during the third quarter. Wellington Management Group LLP now owns 1,639,058 shares of the company’s stock worth $332,581,000 after buying an additional 436,997 shares in the last quarter. Finally, Alphinity Investment Management Pty Ltd boosted its position in shares of Trane Technologies by 31.4% in the third quarter. Alphinity Investment Management Pty Ltd now owns 1,812,549 shares of the company’s stock valued at $367,784,000 after acquiring an additional 433,388 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Activity

In other news, CFO Christopher J. Kuehn sold 2,767 shares of the firm’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $268.31, for a total transaction of $742,413.77. Following the completion of the transaction, the chief financial officer now owns 54,788 shares of the company’s stock, valued at $14,700,168.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Trane Technologies news, CFO Christopher J. Kuehn sold 3,762 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $286.48, for a total transaction of $1,077,737.76. Following the sale, the chief financial officer now owns 61,691 shares of the company’s stock, valued at $17,673,237.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Christopher J. Kuehn sold 2,767 shares of the stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $268.31, for a total value of $742,413.77. Following the sale, the chief financial officer now owns 54,788 shares of the company’s stock, valued at $14,700,168.28. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,874 shares of company stock valued at $8,462,825. 0.39% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TT. Stephens raised their price target on shares of Trane Technologies from $235.00 to $280.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 6th. Royal Bank of Canada lifted their price target on shares of Trane Technologies from $231.00 to $246.00 and gave the company a “sector perform” rating in a research report on Friday, February 2nd. Citigroup increased their price target on Trane Technologies from $309.00 to $355.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. The Goldman Sachs Group lifted their price objective on Trane Technologies from $253.00 to $287.00 and gave the company a “neutral” rating in a report on Monday, February 5th. Finally, Barclays increased 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. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $251.83.

Trane Technologies Trading Down 1.2 %

TT opened at $300.86 on Tuesday. The company has a market cap of $68.32 billion, a P/E ratio of 34.23, a PEG ratio of 2.57 and a beta of 1.05. The company has a current ratio of 1.13, a quick ratio of 0.78 and a debt-to-equity ratio of 0.57. The company’s 50 day moving average is $292.79 and its 200-day moving average is $255.54. Trane Technologies plc has a 1-year low of $162.04 and a 1-year high of $307.95.

Trane Technologies (NYSE:TT) last issued its earnings results on Thursday, February 1st. The company reported $2.17 earnings per share for the quarter, beating analysts’ consensus estimates of $2.13 by $0.04. The firm had revenue of $4.42 billion for the quarter, compared to analyst estimates of $4.43 billion. Trane Technologies had a net margin of 11.45% and a return on equity of 32.01%. The company’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the business posted $1.82 earnings per share. Equities research analysts predict that Trane Technologies plc will post 10.2 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

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 1.12%. Trane Technologies’s dividend payout ratio is presently 38.23%.

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.