Adams Diversified Equity Fund Inc. Lowers Position in Trane Technologies plc (NYSE:TT)

Adams Diversified Equity Fund Inc. cut its stake in Trane Technologies plc (NYSE:TT - Free Report) by 11.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 53,900 shares of the company's stock after selling 7,300 shares during the period. Adams Diversified Equity Fund Inc.'s holdings in Trane Technologies were worth $18,160,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of TT. Daymark Wealth Partners LLC lifted its holdings in shares of Trane Technologies by 13.8% during the first quarter. Daymark Wealth Partners LLC now owns 3,096 shares of the company's stock valued at $1,043,000 after purchasing an additional 376 shares during the last quarter. Petros Family Wealth LLC lifted its holdings in shares of Trane Technologies by 7.0% during the first quarter. Petros Family Wealth LLC now owns 595 shares of the company's stock valued at $200,000 after purchasing an additional 39 shares during the last quarter. Consolidated Portfolio Review Corp purchased a new position in shares of Trane Technologies during the first quarter valued at approximately $211,000. Legacy Advisors LLC lifted its holdings in shares of Trane Technologies by 6.2% during the first quarter. Legacy Advisors LLC now owns 653 shares of the company's stock valued at $220,000 after purchasing an additional 38 shares during the last quarter. Finally, Asset Management One Co. Ltd. lifted its holdings in shares of Trane Technologies by 4.9% during the first quarter. Asset Management One Co. Ltd. now owns 99,359 shares of the company's stock valued at $33,476,000 after purchasing an additional 4,660 shares during the last quarter. 82.97% of the stock is currently 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 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. The trade was a 49.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.38% of the company's stock.

Trane Technologies Trading Up 0.5%

NYSE:TT opened at $429.13 on Wednesday. The company has a current ratio of 1.09, a quick ratio of 0.74 and a debt-to-equity ratio of 0.52. Trane Technologies plc has a 12 month low of $298.15 and a 12 month high of $436.61. The company has a market cap of $95.70 billion, a PE ratio of 35.70, a price-to-earnings-growth ratio of 2.81 and a beta of 1.16. The company has a 50 day simple moving average of $404.43 and a two-hundred day simple moving average of $377.15.

Trane Technologies (NYSE:TT - Get Free Report) last posted its 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 13.47% and a return on equity of 36.10%. The business had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.46 billion. During the same quarter in the previous year, the firm posted $1.94 EPS. The firm's revenue was up 11.2% on a year-over-year basis. Research analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Announces Dividend

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

Analysts Set New Price Targets

Several research firms have recently issued reports on TT. Royal Bank Of Canada lifted their target price on shares of Trane Technologies from $363.00 to $408.00 and gave the company a "sector perform" rating in a report on Thursday, May 1st. HSBC upgraded shares of Trane Technologies from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $405.00 to $415.00 in a report on Friday, April 25th. Stephens upgraded shares of Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 price objective for the company in a report on Thursday, May 1st. Barclays decreased their price objective on shares of Trane Technologies from $500.00 to $475.00 and set an "overweight" rating for the company in a report on Monday, March 10th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of 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 issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average 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.

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