NBC Securities Inc. Takes Position in Trane Technologies plc (NYSE:TT)

NBC Securities Inc. purchased a new position in shares of Trane Technologies plc (NYSE:TT) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 118 shares of the company’s stock, valued at approximately $39,000.

Other hedge funds also recently added to or reduced their stakes in the company. Secured Retirement Advisors LLC raised its holdings in shares of Trane Technologies by 0.6% in the fourth quarter. Secured Retirement Advisors LLC now owns 4,628 shares of the company’s stock worth $1,709,000 after buying an additional 28 shares during the period. Kanawha Capital Management LLC increased its stake in Trane Technologies by 0.6% in the fourth quarter. Kanawha Capital Management LLC now owns 4,712 shares of the company’s stock worth $1,740,000 after purchasing an additional 29 shares during the period. Quadrant Capital Group LLC increased its stake in Trane Technologies by 0.8% in the fourth quarter. Quadrant Capital Group LLC now owns 3,786 shares of the company’s stock worth $1,398,000 after purchasing an additional 30 shares during the period. TFC Financial Management Inc. lifted its position in shares of Trane Technologies by 13.1% during the fourth quarter. TFC Financial Management Inc. now owns 277 shares of the company’s stock worth $102,000 after purchasing an additional 32 shares during the last quarter. Finally, Prossimo Advisors LLC grew its holdings in shares of Trane Technologies by 0.7% in the fourth quarter. Prossimo Advisors LLC now owns 4,463 shares of the company’s stock worth $1,648,000 after purchasing an additional 32 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors.

Trane Technologies Stock Performance

TT stock opened at $423.87 on Friday. Trane Technologies plc has a one year low of $298.15 and a one year high of $436.61. The firm has a market cap of $94.53 billion, a price-to-earnings ratio of 37.68, a PEG ratio of 2.50 and a beta of 1.16. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21. The firm has a 50-day simple moving average of $390.59 and a two-hundred day simple moving average of $376.99.

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

Trane Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 0.89%. The ex-dividend date is Friday, September 5th. Trane Technologies’s dividend payout ratio is currently 31.28%.

Insider Buying and Selling at Trane Technologies

In other news, insider Donald E. Simmons sold 3,571 shares of Trane Technologies stock in a transaction 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 approximately $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 SEC, which is accessible through the SEC website. 0.38% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on TT shares. Barclays decreased their price objective on shares of Trane Technologies from $500.00 to $475.00 and set an “overweight” rating for the company in a report on Monday, March 10th. Citigroup increased their price objective on Trane Technologies from $415.00 to $445.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. Stephens upgraded Trane Technologies from an “equal weight” rating to an “overweight” rating and set a $475.00 price objective on the stock in a report on Thursday, May 1st. UBS Group upped their target price on Trane Technologies from $470.00 to $500.00 and gave the stock a “buy” rating in a report on Thursday, May 22nd. Finally, Royal Bank of Canada raised their price target on Trane Technologies from $363.00 to $408.00 and gave the company a “sector perform” rating in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Trane Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $427.47.

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.