Axxcess Wealth Management LLC Increases Stock Holdings in Trane Technologies plc (NYSE:TT)

Axxcess Wealth Management LLC raised its holdings in shares of Trane Technologies plc (NYSE:TT - Free Report) by 74.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,520 shares of the company's stock after acquiring an additional 1,075 shares during the period. Axxcess Wealth Management LLC's holdings in Trane Technologies were worth $849,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Norges Bank purchased a new stake in shares of Trane Technologies during the fourth quarter valued at approximately $1,117,816,000. GAMMA Investing LLC boosted its stake in shares of Trane Technologies by 35,458.2% during the first quarter. GAMMA Investing LLC now owns 2,015,792 shares of the company's stock valued at $679,161,000 after purchasing an additional 2,010,123 shares during the period. Northern Trust Corp boosted its stake in shares of Trane Technologies by 20.1% during the fourth quarter. Northern Trust Corp now owns 2,567,527 shares of the company's stock valued at $948,316,000 after purchasing an additional 429,953 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Trane Technologies during the fourth quarter valued at approximately $147,251,000. Finally, BNP Paribas Financial Markets purchased a new stake in shares of Trane Technologies during the fourth quarter valued at approximately $137,999,000. 82.97% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Donald E. Simmons sold 3,571 shares of Trane Technologies 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 completion of the sale, the insider directly owned 3,593 shares in the company, valued at approximately $1,365,340. This trade 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. Insiders own 0.38% of the company's stock.

Wall Street Analysts Forecast Growth

TT has been the subject of a number of research analyst reports. Barclays raised their price target on Trane Technologies from $476.00 to $480.00 and gave the stock an "overweight" rating in a research note on Wednesday. HSBC raised Trane Technologies from a "hold" rating to a "buy" rating and raised their price target for the stock from $405.00 to $415.00 in a research note on Friday, April 25th. Wells Fargo & Company raised their price target on Trane Technologies from $370.00 to $410.00 and gave the stock an "underweight" rating in a research note on Tuesday, July 1st. Citigroup raised their price target on Trane Technologies from $415.00 to $445.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Finally, Royal Bank Of Canada raised their price target on Trane Technologies from $363.00 to $408.00 and gave the stock a "sector perform" rating in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Trane Technologies has a consensus rating of "Moderate Buy" and a consensus price target of $434.00.

Trane Technologies Stock Up 0.7%

Shares of NYSE:TT traded up $2.86 on Friday, hitting $437.39. 944,543 shares of the company traded hands, compared to its average volume of 1,334,971. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $438.95. The company has a quick ratio of 0.74, a current ratio of 1.09 and a debt-to-equity ratio of 0.52. The stock has a 50 day simple moving average of $425.99 and a 200-day simple moving average of $381.17. The company has a market cap of $97.55 billion, a PE ratio of 36.39, a PEG ratio of 2.83 and a beta of 1.15.

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 36.10% and a net margin of 13.47%. 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, research analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Announces Dividend

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 issued a $0.94 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $3.76 annualized dividend and a yield of 0.86%. Trane Technologies's payout ratio is 31.28%.

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.