Avanza Fonder AB Makes New $6.84 Million Investment in Trane Technologies plc (NYSE:TT)

Avanza Fonder AB purchased a new position in shares of Trane Technologies plc (NYSE:TT - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 19,657 shares of the company's stock, valued at approximately $6,839,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. WFA Asset Management Corp increased its position in Trane Technologies by 208.3% in the 1st quarter. WFA Asset Management Corp now owns 74 shares of the company's stock valued at $25,000 after acquiring an additional 50 shares during the period. Minot DeBlois Advisors LLC acquired a new position in shares of Trane Technologies in the fourth quarter valued at approximately $26,000. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of Trane Technologies during the fourth quarter worth $28,000. Flagship Wealth Advisors LLC acquired a new stake in shares of Trane Technologies in the 4th quarter worth $37,000. Finally, Golden State Wealth Management LLC acquired a new position in shares of Trane Technologies during the fourth quarter worth about $39,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Trane Technologies

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

Trane Technologies Stock Performance

NYSE:TT traded down $0.04 during mid-day trading on Friday, hitting $424.27. The stock had a trading volume of 382,637 shares, compared to its average volume of 1,535,341. The company has a 50 day simple moving average of $390.59 and a 200-day simple moving average of $376.99. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $436.61. The stock has a market capitalization of $94.62 billion, a price-to-earnings ratio of 37.71, a P/E/G ratio of 2.50 and a beta of 1.16. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58.

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 (EPS) for the quarter, beating analysts' consensus estimates 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 analyst estimates of $4.46 billion. During the same period last year, the company posted $1.94 EPS. The firm's quarterly revenue was up 11.2% on a year-over-year basis. On average, research analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on TT shares. HSBC upgraded Trane Technologies from a "hold" rating to a "buy" rating and lifted their price target for the company from $405.00 to $415.00 in a research note on Friday, April 25th. Robert W. Baird raised their price objective on shares of Trane Technologies from $360.00 to $396.00 and gave the company a "neutral" rating in a research note on Thursday, May 1st. Hsbc Global Res upgraded shares of Trane Technologies from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. UBS Group lifted their price target on shares of Trane Technologies from $470.00 to $500.00 and gave the company a "buy" rating in a research report on Thursday, May 22nd. Finally, Royal Bank of Canada upped their price target on Trane Technologies from $363.00 to $408.00 and gave the stock a "sector perform" rating in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $427.47.

Trane Technologies Company 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.