Mediolanum International Funds Ltd Purchases 6,778 Shares of Trane Technologies plc $TT

Mediolanum International Funds Ltd lifted its holdings in Trane Technologies plc (NYSE:TT) by 17.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,030 shares of the company’s stock after acquiring an additional 6,778 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Trane Technologies were worth $18,189,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Nordea Investment Management AB raised its stake in shares of Trane Technologies by 2.9% in the fourth quarter. Nordea Investment Management AB now owns 2,586,506 shares of the company’s stock worth $1,010,419,000 after acquiring an additional 72,998 shares during the last quarter. Farther Finance Advisors LLC lifted its position in shares of Trane Technologies by 64.0% during the fourth quarter. Farther Finance Advisors LLC now owns 7,478 shares of the company’s stock worth $2,911,000 after purchasing an additional 2,917 shares in the last quarter. Dara Capital US Inc. bought a new stake in shares of Trane Technologies during the fourth quarter valued at approximately $966,000. ProCore Advisors LLC bought a new stake in shares of Trane Technologies during the fourth quarter valued at approximately $939,000. Finally, Clear Trail Advisors LLC acquired a new stake in shares of Trane Technologies in the fourth quarter valued at approximately $1,245,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Trane Technologies Stock Performance

Shares of NYSE:TT opened at $469.59 on Monday. The company has a market capitalization of $103.80 billion, a price-to-earnings ratio of 36.32, a P/E/G ratio of 2.16 and a beta of 1.19. The firm’s 50 day simple moving average is $469.88 and its 200 day simple moving average is $447.36. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.10 and a quick ratio of 0.77. Trane Technologies plc has a fifty-two week low of $348.06 and a fifty-two week high of $505.87.

Trane Technologies (NYSE:TT) last posted its earnings results on Friday, May 1st. The company reported $2.63 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $4.81 billion. During the same period last year, the business posted $2.45 earnings per share. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Trane Technologies plc will post 14.89 earnings per share for the current year.

Trane Technologies Dividend Announcement

The firm 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. The ex-dividend date of this dividend is Friday, September 4th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 0.9%. Trane Technologies’s dividend payout ratio (DPR) is currently 32.48%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on TT. BNP Paribas Exane initiated coverage on Trane Technologies in a report on Tuesday, April 14th. They set an “outperform” rating and a $550.00 price objective on the stock. Evercore assumed coverage on Trane Technologies in a research note on Monday, April 13th. They issued an “outperform” rating and a $535.00 target price for the company. KeyCorp upped their price target on Trane Technologies from $525.00 to $555.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. JPMorgan Chase & Co. raised their price target on Trane Technologies from $460.00 to $476.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. Finally, Citigroup boosted their price objective on Trane Technologies from $525.00 to $570.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $516.67.

Insider Buying and Selling at Trane Technologies

In related news, insider Donald E. Simmons sold 4,593 shares of the business’s 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 completion of the transaction, the insider directly owned 3,819 shares in the company, valued at approximately $1,909,500. The trade was a 54.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is owned by company insiders.

About Trane Technologies

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.