Bessemer Group Inc. Has $15.99 Million Stake in Trane Technologies plc (NYSE:TT)

Bessemer Group Inc. boosted its holdings in shares of Trane Technologies plc (NYSE:TT) by 29.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 53,255 shares of the company’s stock after buying an additional 12,045 shares during the period. Bessemer Group Inc.’s holdings in Trane Technologies were worth $15,988,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. BKM Wealth Management LLC purchased a new stake in shares of Trane Technologies in the fourth quarter worth approximately $25,000. Mutual Advisors LLC bought a new stake in Trane Technologies during the fourth quarter worth $389,000. HB Wealth Management LLC raised its position in Trane Technologies by 11.3% in the 4th quarter. HB Wealth Management LLC now owns 4,082 shares of the company’s stock valued at $996,000 after buying an additional 415 shares during the last quarter. Rosenberg Matthew Hamilton lifted its stake in Trane Technologies by 27.2% during the 4th quarter. Rosenberg Matthew Hamilton now owns 192 shares of the company’s stock valued at $47,000 after acquiring an additional 41 shares in the last quarter. Finally, CVA Family Office LLC purchased a new position in Trane Technologies during the 4th quarter worth $182,000. 82.97% of the stock is owned by institutional investors.

Insider Activity

In other news, SVP Evan M. Turtz sold 8,988 shares of the stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $321.30, for a total value of $2,887,844.40. Following the transaction, the senior vice president now owns 20,758 shares in the company, valued at approximately $6,669,545.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Trane Technologies news, SVP Evan M. Turtz sold 8,988 shares of the stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $321.30, for a total value of $2,887,844.40. Following the transaction, the senior vice president now directly owns 20,758 shares in the company, valued at $6,669,545.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Christopher J. Kuehn sold 4,000 shares of Trane Technologies stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $318.67, for a total transaction of $1,274,680.00. Following the transaction, the chief financial officer now owns 61,293 shares in the company, valued at approximately $19,532,240.31. The disclosure for this sale can be found here. Insiders own 0.38% of the company’s stock.

Trane Technologies Stock Down 2.7 %

NYSE:TT traded down $8.85 during mid-day trading on Thursday, hitting $323.99. 566,016 shares of the company’s stock were exchanged, compared to its average volume of 1,098,979. The company has a market cap of $73.34 billion, a PE ratio of 35.59, a P/E/G ratio of 2.67 and a beta of 1.01. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.13 and a quick ratio of 0.74. Trane Technologies plc has a one year low of $184.02 and a one year high of $347.33. The business has a fifty day moving average price of $332.17 and a 200 day moving average price of $301.91.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $1.94 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.30. The company had revenue of $4.22 billion during the quarter, compared to analyst estimates of $3.99 billion. Trane Technologies had a return on equity of 32.78% and a net margin of 11.81%. The firm’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same quarter last year, the company earned $1.41 EPS. Equities analysts predict that Trane Technologies plc will post 10.49 EPS for the current year.

Trane Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be paid a dividend of $0.84 per share. The ex-dividend date is Friday, September 6th. This represents a $3.36 dividend on an annualized basis and a yield of 1.04%. Trane Technologies’s dividend payout ratio is presently 35.90%.

Wall Street Analyst Weigh In

Several research firms have commented on TT. Mizuho lifted their target price on shares of Trane Technologies from $280.00 to $325.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. TD Cowen boosted their target price on shares of Trane Technologies from $325.00 to $360.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Barclays increased their target price on shares of Trane Technologies from $380.00 to $385.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. UBS Group boosted their price objective on Trane Technologies from $330.00 to $375.00 and gave the stock a “buy” rating in a report on Monday, June 3rd. Finally, The Goldman Sachs Group lifted their price objective on shares of Trane Technologies from $287.00 to $326.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $312.36.

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.