Alps Advisors Inc. Boosts Position in Trane Technologies plc (NYSE:TT)

Alps Advisors Inc. boosted its stake in Trane Technologies plc (NYSE:TT - Free Report) by 9.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,966 shares of the company's stock after buying an additional 580 shares during the period. Alps Advisors Inc.'s holdings in Trane Technologies were worth $2,347,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in TT. WFA Asset Management Corp lifted its stake in shares of Trane Technologies by 208.3% in the first quarter. WFA Asset Management Corp now owns 74 shares of the company's stock worth $25,000 after buying an additional 50 shares in the last quarter. Minot DeBlois Advisors LLC purchased a new stake in Trane Technologies during the 4th quarter valued at $26,000. Vermillion & White Wealth Management Group LLC bought a new stake in shares of Trane Technologies in the 4th quarter worth $28,000. Opal Wealth Advisors LLC purchased a new position in shares of Trane Technologies in the first quarter worth $31,000. Finally, Tradewinds Capital Management LLC lifted its holdings in shares of Trane Technologies by 46.2% during the first quarter. Tradewinds Capital Management LLC now owns 95 shares of the company's stock valued at $32,000 after purchasing an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

Analyst Upgrades and Downgrades

TT has been the subject of a number of recent analyst reports. Barclays boosted their target price on Trane Technologies from $476.00 to $480.00 and gave the stock an "overweight" rating in a research report on Wednesday. Royal Bank Of Canada boosted their price objective 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 Global Res upgraded shares of Trane Technologies from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. 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. Finally, UBS Group raised their price target on Trane Technologies from $470.00 to $500.00 and gave the stock a "buy" rating in a research note on Thursday, May 22nd. One research 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 company. Based on data from MarketBeat, Trane Technologies has an average rating of "Moderate Buy" and an average price target of $434.00.

Trane Technologies Stock Performance

NYSE:TT opened at $437.39 on Friday. The stock has a 50-day moving average price of $425.99 and a 200 day moving average price of $381.18. The stock has a market capitalization of $97.55 billion, a P/E ratio of 36.39, a P/E/G ratio of 2.85 and a beta of 1.15. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $438.95. 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 (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, beating 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 firm had revenue of $4.69 billion for the quarter, compared to analysts' expectations of $4.46 billion. During the same quarter last year, the business posted $1.94 earnings per share. The company's revenue for the quarter was up 11.2% compared to the same quarter last year. Equities research analysts forecast that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be given a $0.94 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.86%. Trane Technologies's dividend payout ratio is currently 31.28%.

Insider Buying and Selling

In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of Trane Technologies 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 sale, the insider owned 3,593 shares of the company's stock, valued at $1,365,340. The trade was a 49.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.38% of the company's stock.

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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