Natural Investments LLC Grows Stake in Trane Technologies plc (NYSE:TT)

by · The Cerbat Gem

Natural Investments LLC lifted its stake in shares of Trane Technologies plc (NYSE:TT – Free Report) by 155.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,079 shares of the company’s stock after purchasing an additional 4,913 shares during the period. Natural Investments LLC’s holdings in Trane Technologies were worth $2,722,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. GAMMA Investing LLC grew its stake in Trane Technologies by 35,458.2% during the 1st quarter. GAMMA Investing LLC now owns 2,015,792 shares of the company’s stock valued at $679,161,000 after acquiring an additional 2,010,123 shares in the last quarter. Northern Trust Corp grew its stake in Trane Technologies by 20.1% during the 4th quarter. Northern Trust Corp now owns 2,567,527 shares of the company’s stock valued at $948,316,000 after acquiring an additional 429,953 shares in the last quarter. Pictet Asset Management Holding SA grew its stake in Trane Technologies by 27.3% during the 1st quarter. Pictet Asset Management Holding SA now owns 1,915,630 shares of the company’s stock valued at $645,343,000 after acquiring an additional 410,734 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Trane Technologies during the 4th quarter valued at about $147,251,000. Finally, BNP Paribas Financial Markets purchased a new stake in Trane Technologies during the 4th quarter valued at about $137,999,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TT. The Goldman Sachs Group upped their price objective on shares of Trane Technologies from $416.00 to $460.00 and gave the company a “neutral” rating in a research note on Tuesday, July 8th. Morgan Stanley upped their price objective on shares of Trane Technologies from $445.00 to $520.00 and gave the company an “overweight” rating in a research note on Thursday, July 31st. JPMorgan Chase & Co. increased their price target on shares of Trane Technologies from $334.00 to $400.00 and gave the company a “neutral” rating in a research note on Friday, May 16th. Royal Bank Of Canada increased their price target on shares of Trane Technologies from $463.00 to $467.00 and gave the company a “sector perform” rating in a research note on Thursday, July 31st. Finally, UBS Group increased their price target on shares of Trane Technologies from $500.00 to $544.00 and gave the company a “buy” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $458.60.

Check Out Our Latest Analysis on TT

Trane Technologies Stock Performance

Shares of TT stock opened at $428.52 on Wednesday. The firm’s 50 day moving average price is $435.62 and its 200-day moving average price is $389.21. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.10. Trane Technologies plc has a one year low of $298.15 and a one year high of $476.18. The firm has a market cap of $95.35 billion, a P/E ratio of 33.98, a P/E/G ratio of 2.77 and a beta of 1.09.

Trane Technologies (NYSE:TT – Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $3.88 EPS for the quarter, topping the consensus estimate of $3.79 by $0.09. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. The firm had revenue of $5.75 billion for the quarter, compared to analyst estimates of $5.77 billion. During the same period in the prior year, the business posted $3.30 EPS. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, equities research analysts predict that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be issued a dividend of $0.94 per share. The ex-dividend date is Friday, September 5th. This represents a $3.76 dividend on an annualized basis and a yield of 0.9%. Trane Technologies’s dividend payout ratio is 29.82%.

About Trane Technologies

(Free Report)

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.

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