ABN Amro Investment Solutions Invests $71.44 Million in Trane Technologies plc $TT

ABN Amro Investment Solutions acquired a new stake in shares of Trane Technologies plc (NYSE:TT) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 171,433 shares of the company’s stock, valued at approximately $71,443,000. Trane Technologies makes up approximately 0.9% of ABN Amro Investment Solutions’ portfolio, making the stock its 20th biggest holding. ABN Amro Investment Solutions owned about 0.08% of Trane Technologies as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Bell Investment Advisors Inc increased its position in shares of Trane Technologies by 12.2% in the 1st quarter. Bell Investment Advisors Inc now owns 203 shares of the company’s stock valued at $85,000 after acquiring an additional 22 shares during the period. Fiduciary Family Office LLC raised its stake in shares of Trane Technologies by 1.5% in the fourth quarter. Fiduciary Family Office LLC now owns 1,573 shares of the company’s stock worth $612,000 after purchasing an additional 23 shares during the last quarter. Foster Dykema Cabot & Partners LLC lifted its holdings in shares of Trane Technologies by 10.6% during the fourth quarter. Foster Dykema Cabot & Partners LLC now owns 239 shares of the company’s stock worth $93,000 after purchasing an additional 23 shares during the period. Bridges Investment Management Inc. lifted its holdings in shares of Trane Technologies by 1.6% during the fourth quarter. Bridges Investment Management Inc. now owns 1,542 shares of the company’s stock worth $600,000 after purchasing an additional 24 shares during the period. Finally, Cornerstone Planning Group LLC boosted its position in Trane Technologies by 14.5% in the first quarter. Cornerstone Planning Group LLC now owns 190 shares of the company’s stock valued at $79,000 after buying an additional 24 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on TT shares. Sanford C. Bernstein set a $555.00 price target on shares of Trane Technologies in a research report on Thursday, July 9th. BNP Paribas Exane initiated coverage on shares of Trane Technologies in a report on Tuesday, April 14th. They set an “outperform” rating and a $550.00 target price for the company. Barclays boosted their target price on shares of Trane Technologies from $507.00 to $585.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Trane Technologies in a research report on Friday. Finally, Royal Bank Of Canada lifted their price objective on Trane Technologies from $440.00 to $501.00 and gave the company a “sector perform” rating in a research note on Friday, May 1st. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Trane Technologies has an average rating of “Moderate Buy” and a consensus target price of $516.67.

Insider Activity at Trane Technologies

In other news, insider Donald E. Simmons sold 4,593 shares of the company’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 transaction of $2,296,500.00. Following the completion of the transaction, the insider directly owned 3,819 shares of the company’s stock, valued at $1,909,500. This represents a 54.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is owned by company insiders.

Trane Technologies Trading Up 0.5%

Shares of Trane Technologies stock opened at $470.42 on Wednesday. The firm has a 50-day simple moving average of $469.78 and a two-hundred day simple moving average of $448.47. The company has a market cap of $103.99 billion, a P/E ratio of 36.38, a price-to-earnings-growth ratio of 2.15 and a beta of 1.19. Trane Technologies plc has a fifty-two week low of $348.06 and a fifty-two week high of $505.87. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.10.

Trane Technologies (NYSE:TT) last posted its earnings results on Friday, May 1st. The company reported $2.63 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.10. The firm had revenue of $4.97 billion for the quarter, compared to analysts’ expectations of $4.81 billion. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The company’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period last year, the firm earned $2.45 EPS. As a group, equities analysts predict that Trane Technologies plc will post 14.89 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 Wednesday, September 30th. Stockholders of record on Friday, September 4th will be given a $1.05 dividend. The ex-dividend date is Friday, September 4th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 0.9%. Trane Technologies’s payout ratio is 32.48%.

Trane Technologies Profile

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.