Lazard Asset Management LLC Raises Position in Trane Technologies plc $TT

Lazard Asset Management LLC grew its holdings in shares of Trane Technologies plc (NYSE:TT) by 11.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 648,093 shares of the company’s stock after acquiring an additional 68,737 shares during the period. Lazard Asset Management LLC owned about 0.29% of Trane Technologies worth $270,086,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Bell Investment Advisors Inc raised its stake in shares of Trane Technologies by 12.2% in the first quarter. Bell Investment Advisors Inc now owns 203 shares of the company’s stock worth $85,000 after buying an additional 22 shares during the period. Fiduciary Family Office LLC raised its stake in Trane Technologies by 1.5% during the 4th quarter. Fiduciary Family Office LLC now owns 1,573 shares of the company’s stock worth $612,000 after acquiring an additional 23 shares during the period. Foster Dykema Cabot & Partners LLC lifted its holdings in Trane Technologies by 10.6% during the fourth quarter. Foster Dykema Cabot & Partners LLC now owns 239 shares of the company’s stock valued at $93,000 after purchasing an additional 23 shares in the last quarter. Bridges Investment Management Inc. boosted its position in shares of Trane Technologies by 1.6% in 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 shares of Trane Technologies by 14.5% in the first quarter. Cornerstone Planning Group LLC now owns 190 shares of the company’s stock worth $79,000 after purchasing an additional 24 shares during the period. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Donald E. Simmons sold 4,593 shares of the 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 approximately $1,909,500. This represents a 54.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.43% of the company’s stock.

Trane Technologies Stock Performance

TT opened at $481.09 on Monday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.10. The stock has a market capitalization of $106.34 billion, a price-to-earnings ratio of 37.21, a PEG ratio of 2.21 and a beta of 1.19. The company has a fifty day moving average of $470.13 and a 200 day moving average of $450.29. 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 announced its quarterly earnings results on Friday, May 1st. The company reported $2.63 EPS for the quarter, topping the consensus estimate of $2.53 by $0.10. The business had revenue of $4.97 billion for the quarter, compared to analysts’ expectations of $4.81 billion. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.45 EPS. As a group, sell-side analysts forecast that Trane Technologies plc will post 14.89 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 4th will be given a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, September 4th. Trane Technologies’s payout ratio is currently 32.48%.

Analyst Ratings Changes

A number of research firms recently weighed in on TT. Weiss Ratings restated a “buy (b)” rating on shares of Trane Technologies in a research note on Friday, July 17th. Royal Bank Of Canada raised their price target on Trane Technologies from $440.00 to $501.00 and gave the company a “sector perform” rating in a report on Friday, May 1st. Citigroup boosted their price objective on Trane Technologies from $525.00 to $570.00 and gave the company a “buy” rating in a research report on Friday, May 1st. KeyCorp upped their price objective on Trane Technologies from $525.00 to $555.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Finally, Evercore assumed coverage on Trane Technologies in a research report on Monday, April 13th. They set an “outperform” rating and a $535.00 target price for the company. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $516.67.

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.