Bessemer Group Inc. Has $2.92 Million Stock Position in Trane Technologies plc $TT

Bessemer Group Inc. reduced its position in Trane Technologies plc (NYSE:TT) by 0.7% in the 2nd quarter, HoldingsChannel reports. The firm owned 6,680 shares of the company’s stock after selling 46 shares during the period. Bessemer Group Inc.’s holdings in Trane Technologies were worth $2,922,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of TT. Brighton Jones LLC lifted its stake in Trane Technologies by 60.0% in the 4th quarter. Brighton Jones LLC now owns 6,194 shares of the company’s stock valued at $2,288,000 after purchasing an additional 2,323 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Trane Technologies by 10.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 41,441 shares of the company’s stock worth $14,158,000 after acquiring an additional 3,927 shares during the last quarter. Ameritas Advisory Services LLC lifted its position in Trane Technologies by 6.9% during the first quarter. Ameritas Advisory Services LLC now owns 1,355 shares of the company’s stock worth $492,000 after acquiring an additional 87 shares during the last quarter. Mather Group LLC. lifted its position in Trane Technologies by 16.8% during the first quarter. Mather Group LLC. now owns 1,089 shares of the company’s stock worth $367,000 after acquiring an additional 157 shares during the last quarter. Finally, DAVENPORT & Co LLC lifted its position in Trane Technologies by 687.8% during the first quarter. DAVENPORT & Co LLC now owns 216,679 shares of the company’s stock worth $72,773,000 after acquiring an additional 189,176 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TT has been the subject of several research reports. Weiss Ratings restated a “buy (b)” rating on shares of Trane Technologies in a research report on Wednesday, October 8th. Hsbc Global Res downgraded shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 31st. Royal Bank Of Canada raised their price objective on shares of Trane Technologies from $463.00 to $467.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 31st. JPMorgan Chase & Co. raised their price objective on shares of Trane Technologies from $407.00 to $434.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 15th. Finally, UBS Group raised their target price on shares of Trane Technologies from $500.00 to $544.00 and gave the stock a “buy” rating in a report on Tuesday, August 5th. Six analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $464.29.

Trane Technologies Stock Up 0.1%

Shares of TT opened at $426.66 on Thursday. Trane Technologies plc has a 12 month low of $298.15 and a 12 month high of $476.18. The firm’s 50 day moving average is $416.34 and its 200-day moving average is $417.50. The stock has a market capitalization of $94.94 billion, a PE ratio of 33.84, a P/E/G ratio of 2.65 and a beta of 1.12. The company has a current ratio of 1.10, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50.

Trane Technologies (NYSE:TT) last announced its earnings results on Wednesday, July 30th. The company reported $3.88 EPS for the quarter, topping the consensus estimate of $3.79 by $0.09. The company had revenue of $5.75 billion for the quarter, compared to analysts’ expectations of $5.77 billion. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period last year, the firm earned $3.30 earnings per share. Equities research analysts forecast that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Friday, December 5th will be paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, December 5th. Trane Technologies’s dividend payout ratio (DPR) is 29.82%.

Insider Transactions at Trane Technologies

In related news, CEO David S. Regnery sold 22,497 shares of Trane Technologies stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $410.00, for a total value of $9,223,770.00. Following the transaction, the chief executive officer directly owned 123,713 shares of the company’s stock, valued at $50,722,330. This trade represents a 15.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.14% of the stock is owned by company insiders.

About Trane Technologies

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.