Trane Technologies plc $TT Holdings Boosted by Eventide Asset Management LLC

Eventide Asset Management LLC grew its position in shares of Trane Technologies plc (NYSE:TT) by 1.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 403,274 shares of the company’s stock after purchasing an additional 4,753 shares during the quarter. Trane Technologies makes up about 2.5% of Eventide Asset Management LLC’s holdings, making the stock its 4th largest position. Eventide Asset Management LLC’s holdings in Trane Technologies were worth $157,023,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in TT. Brighton Jones LLC grew its holdings in shares of Trane Technologies by 60.0% during the fourth quarter. Brighton Jones LLC now owns 6,194 shares of the company’s stock worth $2,288,000 after purchasing an additional 2,323 shares during the last quarter. Sivia Capital Partners LLC grew its holdings in shares of Trane Technologies by 22.4% during the second quarter. Sivia Capital Partners LLC now owns 1,665 shares of the company’s stock worth $728,000 after purchasing an additional 305 shares during the last quarter. Schnieders Capital Management LLC. purchased a new position in shares of Trane Technologies during the second quarter worth about $227,000. Nebula Research & Development LLC grew its holdings in shares of Trane Technologies by 178.0% during the second quarter. Nebula Research & Development LLC now owns 2,371 shares of the company’s stock worth $1,037,000 after purchasing an additional 1,518 shares during the last quarter. Finally, Treasurer of the State of North Carolina grew its holdings in shares of Trane Technologies by 0.5% during the second quarter. Treasurer of the State of North Carolina now owns 104,140 shares of the company’s stock worth $45,552,000 after buying an additional 497 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling

In other news, CFO Christopher J. Kuehn sold 8,619 shares of Trane Technologies stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $450.00, for a total transaction of $3,878,550.00. Following the completion of the sale, the chief financial officer directly owned 60,576 shares in the company, valued at approximately $27,259,200. This trade represents a 12.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Donald E. Simmons sold 4,593 shares of Trane Technologies stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $500.00, for a total value of $2,296,500.00. Following the transaction, the insider owned 3,819 shares of the company’s stock, valued at $1,909,500. This represents a 54.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is currently owned by company insiders.

Trane Technologies Price Performance

TT stock opened at $457.69 on Friday. The firm has a 50 day moving average of $463.44 and a 200-day moving average of $433.14. Trane Technologies plc has a 12-month low of $348.06 and a 12-month high of $503.47. The company has a current ratio of 1.10, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46. The company has a market cap of $101.17 billion, a price-to-earnings ratio of 35.40, a PEG ratio of 2.11 and a beta of 1.20.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Friday, May 1st. The company reported $2.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.10. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The company had revenue of $4.97 billion during the quarter, compared to the consensus estimate of $4.81 billion. During the same period last year, the firm earned $2.45 EPS. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. As a group, equities analysts expect that Trane Technologies plc will post 14.88 EPS for the current fiscal year.

Trane Technologies Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on TT. Citigroup raised their price target on Trane Technologies from $525.00 to $570.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Royal Bank Of Canada raised their price target on Trane Technologies from $440.00 to $501.00 and gave the stock a “sector perform” rating in a report on Friday, May 1st. KeyCorp raised their price target on Trane Technologies from $525.00 to $555.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. BNP Paribas Exane began coverage on Trane Technologies in a report on Tuesday, April 14th. They set an “outperform” rating and a $550.00 price target on the stock. Finally, Barclays raised their price target on Trane Technologies from $507.00 to $585.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Trane Technologies has a consensus rating of “Moderate Buy” and an average price target of $509.12.

Trane Technologies Company Profile

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.