6,259 Shares in Trane Technologies plc (NYSE:TT) Acquired by Suncoast Equity Management

Suncoast Equity Management acquired a new stake in shares of Trane Technologies plc (NYSE:TT - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 6,259 shares of the company's stock, valued at approximately $2,109,000.

Several other institutional investors and hedge funds have also bought and sold shares of TT. WFA Asset Management Corp lifted its stake in Trane Technologies by 208.3% during the 1st quarter. WFA Asset Management Corp now owns 74 shares of the company's stock valued at $25,000 after acquiring an additional 50 shares during the period. Minot DeBlois Advisors LLC acquired a new stake in Trane Technologies during the 4th quarter valued at approximately $26,000. Vermillion & White Wealth Management Group LLC acquired a new stake in Trane Technologies during the 4th quarter valued at approximately $28,000. Opal Wealth Advisors LLC acquired a new stake in Trane Technologies during the 1st quarter valued at approximately $31,000. Finally, Flagship Wealth Advisors LLC acquired a new stake in Trane Technologies during the 4th quarter valued at approximately $37,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Trane Technologies

In other news, insider Donald E. Simmons sold 3,571 shares of the company's stock in a transaction 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 completion of the sale, the insider now owns 3,593 shares of the company's stock, valued at $1,365,340. This represents a 49.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.38% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. UBS Group boosted their target price on shares of Trane Technologies from $470.00 to $500.00 and gave the company a "buy" rating in a research note on Thursday, May 22nd. 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 research note on Friday, May 16th. Robert W. Baird boosted their target price on shares of Trane Technologies from $360.00 to $396.00 and gave the company a "neutral" rating in a research note on Thursday, May 1st. Hsbc Global Res upgraded shares of Trane Technologies from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 25th. Finally, Stephens upgraded shares of Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 target price for the company in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $427.47.

Trane Technologies Price Performance

Shares of NYSE TT opened at $419.25 on Friday. The firm has a market cap of $93.50 billion, a PE ratio of 34.88, a PEG ratio of 2.76 and a beta of 1.16. The firm has a fifty day moving average of $401.13 and a 200 day moving average of $377.22. 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 plc has a one year low of $298.15 and a one year high of $436.61.

Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $2.45 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 previous year, the firm earned $1.94 EPS. The firm's revenue was up 11.2% compared to the same quarter last year. As a group, research analysts predict that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date is Friday, September 5th. Trane Technologies's payout ratio is 31.28%.

About Trane Technologies

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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