1,520 Shares in Trane Technologies plc (NYSE:TT) Bought by McNamara Financial Services Inc.

McNamara Financial Services Inc. bought a new position in Trane Technologies plc (NYSE:TT - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,520 shares of the company's stock, valued at approximately $512,000.

Several other hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new position in Trane Technologies during the 4th quarter valued at $1,117,816,000. GAMMA Investing LLC increased its position in Trane Technologies by 35,458.2% during the 1st quarter. GAMMA Investing LLC now owns 2,015,792 shares of the company's stock valued at $679,161,000 after purchasing an additional 2,010,123 shares during the period. Raymond James Financial Inc. purchased a new position in Trane Technologies during the 4th quarter valued at $611,322,000. Northern Trust Corp increased its position in Trane Technologies by 20.1% during the 4th quarter. Northern Trust Corp now owns 2,567,527 shares of the company's stock valued at $948,316,000 after purchasing an additional 429,953 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Trane Technologies during the 4th quarter valued at $147,251,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Donald E. Simmons sold 3,571 shares of the business's stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $380.00, for a total value of $1,356,980.00. Following the completion of the sale, the insider now owns 3,593 shares in the company, valued at approximately $1,365,340. The trade was a 49.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.38% of the company's stock.

Trane Technologies Price Performance

TT stock opened at $431.03 on Friday. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $436.61. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. The company has a fifty day simple moving average of $381.19 and a two-hundred day simple moving average of $376.61. The firm has a market capitalization of $96.13 billion, a P/E ratio of 38.31, a price-to-earnings-growth ratio of 2.50 and a beta of 1.14.

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

Trane Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be issued a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 0.87%. Trane Technologies's dividend payout ratio is currently 31.28%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on TT shares. Robert W. Baird boosted their price objective on shares of Trane Technologies from $360.00 to $396.00 and gave the company a "neutral" rating in a research report on Thursday, May 1st. Stephens upgraded shares of Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 target price on the stock in a report on Thursday, May 1st. HSBC upgraded shares of Trane Technologies from a "hold" rating to a "buy" rating and boosted their target price for the company from $405.00 to $415.00 in a report on Friday, April 25th. JPMorgan Chase & Co. boosted their target price on shares of Trane Technologies from $334.00 to $400.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Finally, Hsbc Global Res upgraded shares of Trane Technologies from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. One analyst has rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Trane Technologies has an average rating of "Moderate Buy" and an average target price of $427.47.

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.

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