1,230 Shares in Trane Technologies plc (NYSE:TT) Bought by AdvisorShares Investments LLC

AdvisorShares Investments LLC acquired a new stake in Trane Technologies plc (NYSE:TT - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,230 shares of the company's stock, valued at approximately $454,000.

A number of other hedge funds have also added to or reduced their stakes in TT. Global Wealth Strategies & Associates purchased a new position in Trane Technologies during the 4th quarter valued at about $26,000. Sound Income Strategies LLC increased its holdings in Trane Technologies by 1,314.3% during the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company's stock valued at $37,000 after buying an additional 92 shares during the period. Flagship Wealth Advisors LLC bought a new position in Trane Technologies in the fourth quarter worth approximately $37,000. Golden State Wealth Management LLC purchased a new stake in Trane Technologies during the fourth quarter worth $39,000. Finally, BankPlus Trust Department bought a new stake in Trane Technologies during the 4th quarter valued at $45,000. 82.97% of the stock is currently owned by institutional investors.

Trane Technologies Price Performance

Trane Technologies stock traded up $7.06 during midday trading on Friday, reaching $399.68. The company had a trading volume of 1,323,355 shares, compared to its average volume of 1,317,715. The firm's fifty day simple moving average is $344.26 and its 200-day simple moving average is $372.20. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $422.00. The company has a market capitalization of $89.64 billion, a P/E ratio of 35.53, a P/E/G ratio of 2.50 and a beta of 1.08. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88.

Trane Technologies (NYSE:TT - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $2.45 EPS for the quarter, beating analysts' consensus estimates of $2.20 by $0.25. The business had revenue of $4.69 billion during the quarter, compared to analysts' expectations of $4.46 billion. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. The company's quarterly revenue was up 11.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.94 earnings per share. As a group, equities analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 0.94%. The ex-dividend date of this dividend is Friday, June 6th. Trane Technologies's payout ratio is presently 33.42%.

Insider Activity

In related news, SVP Mairead Magner sold 198 shares of the business's stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $357.61, for a total transaction of $70,806.78. Following the completion of the transaction, the senior vice president now directly owns 13,401 shares of the company's stock, valued at $4,792,331.61. The trade was a 1.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO David S. Regnery sold 2,754 shares of the company's stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $357.34, for a total value of $984,114.36. Following the sale, the chief executive officer now owns 132,969 shares in the company, valued at approximately $47,515,142.46. This trade represents a 2.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,805 shares of company stock valued at $3,945,082 in the last quarter. Insiders own 0.38% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on TT. Citigroup upped their price objective on Trane Technologies from $415.00 to $445.00 and gave the stock a "buy" rating in a research note on Thursday. Melius cut shares of Trane Technologies from a "buy" rating to a "hold" rating and set a $398.00 price target on the stock. in a report on Tuesday, January 28th. Royal Bank of Canada boosted their price objective on shares of Trane Technologies from $363.00 to $408.00 and gave the stock a "sector perform" rating in a research note on Thursday. Wells Fargo & Company raised their target price on shares of Trane Technologies from $330.00 to $370.00 and gave the company an "underweight" rating in a research note on Thursday. Finally, Melius Research reaffirmed a "hold" rating and set a $398.00 price target on shares of Trane Technologies in a research report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Trane Technologies has an average rating of "Moderate Buy" and a consensus target price of $421.07.

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.