Parcion Private Wealth LLC Takes $431,000 Position in Trane Technologies plc (NYSE:TT)

Parcion Private Wealth LLC acquired a new stake in Trane Technologies plc (NYSE:TT - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 1,278 shares of the company's stock, valued at approximately $431,000.

Other institutional investors have also added to or reduced their stakes in the company. Victory Capital Management Inc. raised its holdings in Trane Technologies by 14.7% in the 1st quarter. Victory Capital Management Inc. now owns 300,945 shares of the company's stock worth $101,394,000 after purchasing an additional 38,588 shares in the last quarter. Bryn Mawr Capital Management LLC boosted its holdings in shares of Trane Technologies by 28.1% during the 1st quarter. Bryn Mawr Capital Management LLC now owns 1,253 shares of the company's stock valued at $422,000 after acquiring an additional 275 shares during the last quarter. Bridgewater Advisors Inc. purchased a new stake in shares of Trane Technologies during the 1st quarter valued at about $212,000. Larson Financial Group LLC boosted its holdings in shares of Trane Technologies by 3.2% in the first quarter. Larson Financial Group LLC now owns 1,338 shares of the company's stock worth $451,000 after buying an additional 41 shares during the last quarter. Finally, Sage Mountain Advisors LLC boosted its holdings in shares of Trane Technologies by 8.5% in the first quarter. Sage Mountain Advisors LLC now owns 1,534 shares of the company's stock worth $517,000 after buying an additional 120 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. The Goldman Sachs Group raised their price objective on shares of Trane Technologies from $416.00 to $460.00 and gave the stock a "neutral" rating in a report on Tuesday, July 8th. Hsbc Global Res upgraded shares of Trane Technologies from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. HSBC upgraded shares of Trane Technologies from a "hold" rating to a "buy" rating and boosted their price target for the stock from $405.00 to $415.00 in a research report on Friday, April 25th. UBS Group lifted their price objective on shares of Trane Technologies from $470.00 to $500.00 and gave the stock a "buy" rating in a research note on Thursday, May 22nd. Finally, Robert W. Baird boosted their target price on shares of Trane Technologies from $396.00 to $450.00 and gave the company a "neutral" rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $441.40.

Insider Activity at Trane Technologies

In other news, insider Donald E. Simmons sold 3,571 shares of the firm's stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $380.00, for a total transaction of $1,356,980.00. Following the sale, the insider owned 3,593 shares of the company's stock, valued at $1,365,340. This trade represents a 49.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.38% of the stock is owned by insiders.

Trane Technologies Stock Up 3.0%

Shares of TT stock traded up $12.99 during mid-day trading on Thursday, hitting $449.97. 1,151,831 shares of the stock traded hands, compared to its average volume of 1,330,808. The stock has a market cap of $100.35 billion, a P/E ratio of 37.43, a P/E/G ratio of 2.84 and a beta of 1.15. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.09 and a quick ratio of 0.74. The stock's fifty day moving average is $427.90 and its two-hundred day moving average is $382.41. Trane Technologies plc has a 52-week low of $298.15 and a 52-week high of $451.13.

Trane Technologies (NYSE:TT - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $2.45 EPS for the quarter, beating the consensus estimate of $2.20 by $0.25. The firm had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.46 billion. Trane Technologies had a net margin of 13.47% and a return on equity of 36.10%. Trane Technologies's revenue was up 11.2% on a year-over-year basis. During the same period last year, the firm posted $1.94 EPS. Equities analysts predict that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be issued a $0.94 dividend. The ex-dividend date is Friday, September 5th. This represents a $3.76 annualized dividend and a yield of 0.84%. Trane Technologies's dividend payout ratio (DPR) is presently 31.28%.

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.