Atria Investments Inc Has $12.88 Million Stock Position in Trane Technologies plc (NYSE:TT)

Key Points

• Atria Investments Inc increased its holdings in Trane Technologies plc by 4.7%, owning 38,217 shares valued at approximately $12.9 million as of the last quarter.
• Several analysts have raised their target prices for Trane Technologies, with UBS Group setting a target of $500.00, while the consensus target price stands at $441.40.
• Trane Technologies announced a quarterly dividend of $0.94 per share to be paid on September 30, reflecting an annual yield of 0.80%.

Atria Investments Inc raised its stake in Trane Technologies plc (NYSE:TT - Free Report) by 4.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,217 shares of the company's stock after acquiring an additional 1,714 shares during the period. Atria Investments Inc's holdings in Trane Technologies were worth $12,876,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Minot DeBlois Advisors LLC acquired a new position in shares of Trane Technologies during the 4th quarter worth $26,000. WFA Asset Management Corp raised its holdings in shares of Trane Technologies by 208.3% during 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 in the last quarter. Vermillion & White Wealth Management Group LLC acquired a new position in shares of Trane Technologies during the 4th quarter worth $28,000. Opal Wealth Advisors LLC acquired a new position in shares of Trane Technologies during the 1st quarter worth $31,000. Finally, Bogart Wealth LLC raised its holdings in shares of Trane Technologies by 97.9% during the 1st quarter. Bogart Wealth LLC now owns 93 shares of the company's stock worth $31,000 after buying an additional 46 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Donald E. Simmons sold 3,571 shares of the company'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 transaction of $1,356,980.00. Following the transaction, the insider directly owned 3,593 shares of the company's stock, valued at approximately $1,365,340. This represents a 49.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.38% of the company's stock.

Trane Technologies Trading Down 0.3%

Shares of NYSE TT traded down $1.30 during trading on Monday, reaching $470.77. The company had a trading volume of 374,037 shares, compared to its average volume of 1,469,185. The company's fifty day moving average price is $433.17 and its 200-day moving average price is $386.23. Trane Technologies plc has a 12 month low of $298.15 and a 12 month high of $476.19. The stock has a market cap of $104.99 billion, a P/E ratio of 39.18, a PEG ratio of 3.07 and a beta of 1.15. The company has a quick ratio of 0.74, a current ratio of 1.09 and a debt-to-equity ratio of 0.52.

Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $2.45 EPS for the quarter, beating analysts' consensus estimates of $2.20 by $0.25. Trane Technologies had a return on equity of 36.10% and a net margin of 13.47%. The firm had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.46 billion. During the same quarter in the previous year, the company posted $1.94 EPS. The business's revenue was up 11.2% on a year-over-year basis. As a group, research analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors 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 yield of 0.80%. The ex-dividend date of this dividend is Friday, September 5th. Trane Technologies's dividend payout ratio (DPR) is currently 31.28%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on TT shares. Citigroup boosted their price target on Trane Technologies from $445.00 to $502.00 and gave the stock a "buy" rating in a report on Monday, July 14th. Robert W. Baird upped their target price on Trane Technologies from $396.00 to $450.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Stephens raised Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 target price for the company in a report on Thursday, May 1st. UBS Group upped their target price on Trane Technologies from $470.00 to $500.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. Finally, Wells Fargo & Company upped their target price on Trane Technologies from $370.00 to $410.00 and gave the stock an "underweight" rating in a report on Tuesday, July 1st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $441.40.

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.