Prossimo Advisors LLC Increases Position in Trane Technologies plc (NYSE:TT)

Prossimo Advisors LLC increased its stake in shares of Trane Technologies plc (NYSE:TT) by 5.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,431 shares of the company’s stock after buying an additional 225 shares during the quarter. Trane Technologies comprises approximately 1.3% of Prossimo Advisors LLC’s investment portfolio, making the stock its 16th biggest holding. Prossimo Advisors LLC’s holdings in Trane Technologies were worth $1,722,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Trane Technologies by 0.9% in the first quarter. Vanguard Group Inc. now owns 18,887,514 shares of the company’s stock valued at $5,670,032,000 after purchasing an additional 174,251 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Trane Technologies by 0.5% in the first quarter. JPMorgan Chase & Co. now owns 17,393,733 shares of the company’s stock valued at $5,221,599,000 after purchasing an additional 80,536 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in Trane Technologies by 35,914.4% in the third quarter. International Assets Investment Management LLC now owns 1,645,137 shares of the company’s stock valued at $639,514,000 after purchasing an additional 1,640,569 shares during the last quarter. Mackenzie Financial Corp boosted its holdings in Trane Technologies by 0.3% in the second quarter. Mackenzie Financial Corp now owns 1,085,468 shares of the company’s stock valued at $357,043,000 after purchasing an additional 2,898 shares during the last quarter. Finally, Raymond James & Associates boosted its holdings in Trane Technologies by 3.1% in the third quarter. Raymond James & Associates now owns 1,076,484 shares of the company’s stock valued at $418,462,000 after purchasing an additional 32,079 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Trane Technologies news, EVP Raymond D. Pittard sold 1,805 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total value of $593,213.25. Following the transaction, the executive vice president now directly owns 83,517 shares of the company’s stock, valued at $27,447,862.05. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO David S. Regnery sold 29,450 shares of Trane Technologies stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $321.25, for a total transaction of $9,460,812.50. Following the sale, the chief executive officer now owns 132,946 shares of the company’s stock, valued at approximately $42,708,902.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Raymond D. Pittard sold 1,805 shares of Trane Technologies stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total transaction of $593,213.25. Following the sale, the executive vice president now directly owns 83,517 shares in the company, valued at approximately $27,447,862.05. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.38% of the company’s stock.

Trane Technologies Trading Up 1.6 %

Shares of Trane Technologies stock opened at $376.15 on Friday. The firm has a market capitalization of $84.64 billion, a PE ratio of 34.89, a P/E/G ratio of 2.51 and a beta of 1.02. Trane Technologies plc has a twelve month low of $211.31 and a twelve month high of $406.96. The firm’s 50-day moving average price is $377.83 and its 200 day moving average price is $345.71. The company has a current ratio of 1.22, a quick ratio of 0.84 and a debt-to-equity ratio of 0.57.

Trane Technologies (NYSE:TT) last released its earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share for the quarter, topping analysts’ consensus estimates of $3.23 by $0.14. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The business had revenue of $5.44 billion for the quarter, compared to analyst estimates of $5.32 billion. During the same period last year, the company posted $2.79 EPS. The business’s revenue was up 10.0% on a year-over-year basis. On average, sell-side analysts predict that Trane Technologies plc will post 11.06 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th will be paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend is Friday, December 6th. Trane Technologies’s dividend payout ratio (DPR) is 31.17%.

Analyst Upgrades and Downgrades

Several research firms have commented on TT. Robert W. Baird lowered their price target on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a report on Thursday. HSBC cut Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 target price on the stock. in a research report on Thursday. Hsbc Global Res cut Trane Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday. Stephens restated an “equal weight” rating and set a $350.00 target price on shares of Trane Technologies in a research report on Monday, August 5th. Finally, The Goldman Sachs Group raised their target price on Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Trane Technologies currently has a consensus rating of “Hold” and a consensus price target of $380.15.

Trane Technologies Company 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.