Rockland Trust Co. Makes New $273,000 Investment in Trane Technologies plc (NYSE:TT)

Rockland Trust Co. acquired a new stake in Trane Technologies plc (NYSE:TT - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 809 shares of the company's stock, valued at approximately $273,000.

Other hedge funds also recently bought and sold shares of the company. WFA Asset Management Corp increased its holdings in shares of Trane Technologies by 208.3% in the 1st quarter. WFA Asset Management Corp now owns 74 shares of the company's stock worth $25,000 after buying an additional 50 shares during the last quarter. Minot DeBlois Advisors LLC bought a new position in Trane Technologies in the fourth quarter valued at $26,000. Vermillion & White Wealth Management Group LLC bought a new position in Trane Technologies in the fourth quarter valued at $28,000. Flagship Wealth Advisors LLC purchased a new stake in Trane Technologies during the fourth quarter valued at about $37,000. Finally, NBC Securities Inc. purchased a new position in shares of Trane Technologies in the 1st quarter worth about $39,000. Hedge funds and other institutional investors own 82.97% of the company's stock.

Trane Technologies Trading Down 0.8%

TT traded down $3.47 during midday trading on Friday, reaching $420.84. 1,230,048 shares of the company's stock traded hands, compared to its average volume of 1,344,909. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $436.61. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88. The firm has a fifty day moving average of $392.71 and a two-hundred day moving average of $377.01. The stock has a market capitalization of $93.85 billion, a price-to-earnings ratio of 37.41, a P/E/G ratio of 2.50 and a beta of 1.16.

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

Trane Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date is Friday, September 5th. Trane Technologies's payout ratio is 31.28%.

Wall Street Analyst Weigh In

TT has been the topic of a number of research reports. Citigroup raised their price objective on Trane Technologies from $415.00 to $445.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Wells Fargo & Company lifted their price target on shares of Trane Technologies from $330.00 to $370.00 and gave the stock an "underweight" rating in a research note on Thursday, May 1st. JPMorgan Chase & Co. upped their price objective 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 lifted their target price on shares of Trane Technologies from $360.00 to $396.00 and gave the stock a "neutral" rating in a research report on Thursday, May 1st. Finally, HSBC raised 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 note on Friday, April 25th. 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 company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $427.47.

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 stock was sold at an average price of $380.00, for a total value of $1,356,980.00. Following the completion of the transaction, the insider now owns 3,593 shares in the company, valued at $1,365,340. This trade represents a 49.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.38% of the stock is owned by corporate insiders.

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.