Capital Advisors Wealth Management LLC Takes Position in Trane Technologies plc (NYSE:TT)

Capital Advisors Wealth Management LLC purchased a new position in Trane Technologies plc (NYSE:TT - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 805 shares of the company's stock, valued at approximately $271,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TT. Vanguard Group Inc. grew its position in shares of Trane Technologies by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 19,235,570 shares of the company's stock valued at $7,104,658,000 after purchasing an additional 152,353 shares during the last quarter. Geode Capital Management LLC grew its holdings in Trane Technologies by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 4,775,263 shares of the company's stock valued at $1,760,549,000 after buying an additional 136,349 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in Trane Technologies by 4.1% in the 4th quarter. Ameriprise Financial Inc. now owns 3,343,390 shares of the company's stock valued at $1,234,908,000 after buying an additional 130,867 shares during the last quarter. Norges Bank bought a new position in Trane Technologies during the fourth quarter worth $1,117,816,000. Finally, Northern Trust Corp increased its holdings in shares of Trane Technologies by 20.1% during the 4th quarter. Northern Trust Corp now owns 2,567,527 shares of the company's stock worth $948,316,000 after purchasing an additional 429,953 shares during the period. Institutional investors and hedge funds own 82.97% of the company's stock.

Insider Activity at Trane Technologies

In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of the firm's stock in a transaction dated Wednesday, April 30th. The shares were 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 now owns 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 legal filing with the SEC, which can be accessed through this hyperlink. 0.38% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Robert W. Baird increased their target price 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 upgraded Trane Technologies from a "hold" rating to a "buy" rating and raised their price objective for the stock from $405.00 to $415.00 in a research report on Friday, April 25th. Wells Fargo & Company boosted their price objective on Trane Technologies from $330.00 to $370.00 and gave the company an "underweight" rating in a research report on Thursday, May 1st. UBS Group raised their target price on Trane Technologies from $470.00 to $500.00 and gave the stock a "buy" rating in a research report on Thursday, May 22nd. Finally, Barclays lowered their price target on shares of Trane Technologies from $500.00 to $475.00 and set an "overweight" rating on the stock in a report on Monday, March 10th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Trane Technologies currently has an average rating of "Moderate Buy" and a consensus target price of $427.47.

Trane Technologies Price Performance

Shares of Trane Technologies stock opened at $432.04 on Friday. The stock has a market capitalization of $96.35 billion, a price-to-earnings ratio of 35.94, a P/E/G ratio of 2.84 and a beta of 1.16. The firm's 50-day moving average price is $410.28 and its two-hundred day moving average price is $377.77. 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 1-year low of $298.15 and a 1-year high of $437.41.

Trane Technologies (NYSE:TT - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $2.45 EPS for the quarter, topping 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 business had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.46 billion. During the same period in the previous year, the business earned $1.94 EPS. Trane Technologies's revenue was up 11.2% compared to the same quarter last year. On average, equities analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be paid 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 0.87%. Trane Technologies's dividend payout ratio (DPR) is presently 31.28%.

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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