Minot DeBlois Advisors LLC Invests $26,000 in Trane Technologies plc (NYSE:TT)

Minot DeBlois Advisors LLC purchased a new position in Trane Technologies plc (NYSE:TT) in the 4th quarter, HoldingsChannel reports. The fund purchased 70 shares of the company’s stock, valued at approximately $26,000.

A number of other hedge funds also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Trane Technologies by 5.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 930,713 shares of the company’s stock worth $343,760,000 after buying an additional 49,658 shares during the last quarter. MJP Associates Inc. ADV boosted its holdings in Trane Technologies by 6.5% in the fourth quarter. MJP Associates Inc. ADV now owns 700 shares of the company’s stock worth $259,000 after purchasing an additional 43 shares during the last quarter. Lazard Asset Management LLC grew its position in Trane Technologies by 8.0% in the 4th quarter. Lazard Asset Management LLC now owns 198,110 shares of the company’s stock worth $73,170,000 after purchasing an additional 14,619 shares during the period. Investment Management Corp of Ontario raised its stake in Trane Technologies by 21.8% during the 4th quarter. Investment Management Corp of Ontario now owns 13,576 shares of the company’s stock valued at $5,014,000 after buying an additional 2,431 shares during the last quarter. Finally, Jefferies Financial Group Inc. purchased a new position in shares of Trane Technologies in the 4th quarter worth $1,908,000. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Up 1.4%

Trane Technologies stock opened at $422.17 on Wednesday. Trane Technologies plc has a twelve month low of $298.15 and a twelve month high of $424.46. The firm has a market capitalization of $94.15 billion, a P/E ratio of 37.53, a P/E/G ratio of 2.50 and a beta of 1.14. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. The stock’s fifty day simple moving average is $353.01 and its 200-day simple moving average is $372.66.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.20 by $0.25. The firm had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.46 billion. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. The firm’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.94 EPS. As a group, equities analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be given a $0.94 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.76 annualized dividend and a dividend yield of 0.89%. Trane Technologies’s dividend payout ratio is presently 31.28%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Royal Bank of Canada raised their target price on Trane Technologies from $363.00 to $408.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 1st. JPMorgan Chase & Co. increased their price target on shares of Trane Technologies from $323.00 to $334.00 and gave the stock a “neutral” rating in a research report on Thursday, May 1st. UBS Group dropped their price target on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Hsbc Global Res raised Trane Technologies from a “hold” rating to a “strong-buy” rating in a report on Friday, April 25th. Finally, Robert W. Baird boosted their price target on Trane Technologies from $360.00 to $396.00 and gave the company a “neutral” rating in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Trane Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $421.07.

Insider Buying and Selling

In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of the business’s stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $380.00, for a total transaction of $1,356,980.00. Following the completion of the sale, the insider now directly owns 3,593 shares in the company, valued at $1,365,340. The trade was a 49.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.38% of the company’s stock.

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.