3Chopt Investment Partners LLC Invests $365,000 in Trane Technologies plc (NYSE:TT)

3Chopt Investment Partners LLC bought a new position in shares of Trane Technologies plc (NYSE:TT - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,083 shares of the company's stock, valued at approximately $365,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of Trane Technologies by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 19,235,570 shares of the company's stock worth $7,104,658,000 after acquiring an additional 152,353 shares during the last quarter. Geode Capital Management LLC raised its stake in Trane Technologies by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 4,775,263 shares of the company's stock valued at $1,760,549,000 after purchasing an additional 136,349 shares during the last quarter. Ameriprise Financial Inc. raised its stake in Trane Technologies by 4.1% in the 4th quarter. Ameriprise Financial Inc. now owns 3,343,390 shares of the company's stock valued at $1,234,908,000 after purchasing an additional 130,867 shares during the last quarter. Norges Bank acquired a new position in shares of Trane Technologies in the fourth quarter valued at approximately $1,117,816,000. Finally, Northern Trust Corp raised its position in shares of Trane Technologies by 20.1% in the fourth quarter. Northern Trust Corp now owns 2,567,527 shares of the company's stock valued at $948,316,000 after buying an additional 429,953 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Trane Technologies Stock Up 0.7%

TT opened at $432.04 on Friday. The firm has a 50 day moving average price of $410.28 and a 200 day moving average price of $377.77. The company has a market cap of $96.35 billion, a PE ratio of 35.94, a price-to-earnings-growth ratio of 2.84 and a beta of 1.16. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $437.41. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.74 and a current ratio of 1.09.

Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $0.25. Trane Technologies had a net margin of 13.47% and a return on equity of 36.10%. The company had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.46 billion. During the same quarter in the prior year, the business earned $1.94 earnings per share. The business's quarterly revenue was up 11.2% compared to the same quarter last year. Sell-side analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Dividend Announcement

The business 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 0.87%. Trane Technologies's dividend payout ratio is currently 31.28%.

Insider Activity at Trane Technologies

In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of the stock in a transaction that occurred on 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 of the company's stock, valued at $1,365,340. This trade represents a 49.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.38% of the stock is owned by insiders.

Wall Street Analyst Weigh In

TT has been the subject of several analyst reports. Robert W. Baird boosted their price target on Trane Technologies from $360.00 to $396.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. Hsbc Global Res upgraded Trane Technologies from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 25th. JPMorgan Chase & Co. upped their target price on Trane Technologies from $334.00 to $400.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Wells Fargo & Company upped their target price on Trane Technologies from $330.00 to $370.00 and gave the company an "underweight" rating in a research note on Thursday, May 1st. Finally, HSBC raised shares of Trane Technologies from a "hold" rating to a "buy" rating and upped their price objective for the company from $405.00 to $415.00 in a research note on Friday, April 25th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $427.47.

Trane Technologies 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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