Cathy Pareto & Associates Inc. Buys New Holdings in Trane Technologies plc (NYSE:TT)

Cathy Pareto & Associates Inc. purchased a new position in Trane Technologies plc (NYSE:TT - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 841 shares of the company's stock, valued at approximately $283,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in TT. Peak Financial Advisors LLC boosted its holdings in Trane Technologies by 2.9% in the 1st quarter. Peak Financial Advisors LLC now owns 8,390 shares of the company's stock valued at $2,827,000 after purchasing an additional 239 shares during the period. Apella Capital LLC lifted its stake in Trane Technologies by 9.0% in the first quarter. Apella Capital LLC now owns 2,342 shares of the company's stock valued at $803,000 after buying an additional 194 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its position in shares of Trane Technologies by 3.1% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 21,690 shares of the company's stock worth $7,308,000 after purchasing an additional 655 shares in the last quarter. Bremer Bank National Association lifted its position in shares of Trane Technologies by 7.1% in the first quarter. Bremer Bank National Association now owns 20,173 shares of the company's stock worth $6,797,000 after purchasing an additional 1,333 shares in the last quarter. Finally, Buska Wealth Management LLC bought a new position in shares of Trane Technologies during the 1st quarter worth approximately $256,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Trane Technologies Stock Down 0.4%

TT traded down $1.89 during trading on Friday, reaching $428.93. The stock had a trading volume of 1,048,034 shares, compared to its average volume of 1,351,223. Trane Technologies plc has a one year low of $298.15 and a one year high of $436.61. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. The stock's 50 day moving average is $382.93 and its two-hundred day moving average is $376.72. The company has a market capitalization of $95.66 billion, a price-to-earnings ratio of 38.13, a P/E/G ratio of 2.50 and a beta of 1.14.

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

Trane Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be given a dividend of $0.94 per share. The ex-dividend date is Friday, September 5th. This represents a $3.76 annualized dividend and a dividend yield of 0.88%. Trane Technologies's dividend payout ratio (DPR) is presently 31.28%.

Insider Activity at Trane Technologies

In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of the firm's stock in a transaction dated 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 transaction, the insider now directly owns 3,593 shares of the company's stock, valued at approximately $1,365,340. This trade represents a 49.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.38% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Wells Fargo & Company increased their target price on shares of Trane Technologies from $330.00 to $370.00 and gave the stock an "underweight" rating in a report on Thursday, May 1st. Stephens raised shares of Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 price objective on the stock in a report on Thursday, May 1st. Royal Bank of Canada boosted their price objective on Trane Technologies from $363.00 to $408.00 and gave the company a "sector perform" rating in a research note on Thursday, May 1st. Hsbc Global Res raised Trane Technologies from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. Finally, JPMorgan Chase & Co. boosted their price objective on Trane Technologies from $334.00 to $400.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. 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 given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target 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.