Bank of New Hampshire Buys 1,226 Shares of Trane Technologies plc (NYSE:TT)

Bank of New Hampshire increased its stake in shares of Trane Technologies plc (NYSE:TT) by 27.3% during the 4th quarter, Holdings Channel reports. The fund owned 5,709 shares of the company’s stock after acquiring an additional 1,226 shares during the period. Bank of New Hampshire’s holdings in Trane Technologies were worth $2,109,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of TT. Foundations Investment Advisors LLC boosted its stake in Trane Technologies by 9.4% during the second quarter. Foundations Investment Advisors LLC now owns 755 shares of the company’s stock worth $248,000 after acquiring an additional 65 shares in the last quarter. Lake Street Advisors Group LLC lifted its stake in shares of Trane Technologies by 7.1% in the second quarter. Lake Street Advisors Group LLC now owns 1,866 shares of the company’s stock valued at $614,000 after buying an additional 124 shares in the last quarter. Great Lakes Advisors LLC lifted its stake in shares of Trane Technologies by 10.2% in the second quarter. Great Lakes Advisors LLC now owns 14,382 shares of the company’s stock valued at $4,731,000 after buying an additional 1,335 shares in the last quarter. Asset Dedication LLC bought a new position in shares of Trane Technologies in the second quarter valued at $81,000. Finally, Acadian Asset Management LLC lifted its stake in shares of Trane Technologies by 470.4% in the second quarter. Acadian Asset Management LLC now owns 84,092 shares of the company’s stock valued at $27,651,000 after buying an additional 69,350 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on TT shares. Barclays raised their price objective on shares of Trane Technologies from $440.00 to $500.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Royal Bank of Canada raised their price objective on shares of Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a research note on Friday. Wells Fargo & Company raised their price objective on shares of Trane Technologies from $320.00 to $360.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. Citigroup raised their price objective on shares of Trane Technologies from $457.00 to $478.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, HSBC downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 target price for the company. in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $413.14.

Trane Technologies Stock Performance

NYSE TT traded up $0.58 during trading hours on Tuesday, reaching $384.10. 80,428 shares of the company were exchanged, compared to its average volume of 1,099,054. Trane Technologies plc has a 1 year low of $239.03 and a 1 year high of $422.00. The business’s 50 day simple moving average is $396.29 and its 200-day simple moving average is $370.46. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $86.43 billion, a P/E ratio of 35.63, a P/E/G ratio of 2.38 and a beta of 1.06.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $5.32 billion. During the same quarter last year, the company posted $2.79 earnings per share. The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. On average, equities research analysts expect that Trane Technologies plc will post 11.13 earnings per share for the current year.

Trane Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 6th were issued a dividend of $0.84 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $3.36 dividend on an annualized basis and a yield of 0.87%. Trane Technologies’s dividend payout ratio (DPR) is presently 31.17%.

Insider Transactions at Trane Technologies

In other news, SVP Mairead Magner sold 4,329 shares of Trane Technologies stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $416.00, for a total value of $1,800,864.00. Following the completion of the transaction, the senior vice president now owns 12,893 shares in the company, valued at $5,363,488. This trade represents a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.38% of the company’s stock.

About Trane Technologies

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.