Cerity Partners LLC Boosts Stake in Trane Technologies plc (NYSE:TT)

Cerity Partners LLC grew its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 19.9% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 85,583 shares of the company's stock after purchasing an additional 14,199 shares during the period. Cerity Partners LLC's holdings in Trane Technologies were worth $28,835,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of TT. WFA Asset Management Corp grew 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 acquiring an additional 50 shares in the last quarter. Minot DeBlois Advisors LLC acquired a new position in Trane Technologies during the 4th quarter worth $26,000. Vermillion & White Wealth Management Group LLC purchased a new stake in Trane Technologies during the 4th quarter worth about $28,000. Opal Wealth Advisors LLC acquired a new stake in Trane Technologies in the 1st quarter valued at about $31,000. Finally, Tradewinds Capital Management LLC boosted its stake in shares of Trane Technologies by 46.2% in the 1st quarter. Tradewinds Capital Management LLC now owns 95 shares of the company's stock valued at $32,000 after buying an additional 30 shares during the period. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Trane Technologies Stock Up 0.7%

TT stock opened at $437.39 on Friday. The company has a market cap of $97.55 billion, a price-to-earnings ratio of 36.39, a price-to-earnings-growth ratio of 2.85 and a beta of 1.15. The company has a fifty day moving average price of $425.99 and a 200 day moving average price of $381.18. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.09 and a quick ratio of 0.74. Trane Technologies plc has a 12 month low of $298.15 and a 12 month high of $438.95.

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, beating analysts' consensus estimates of $2.20 by $0.25. Trane Technologies had a net margin of 13.47% and a return on equity of 36.10%. The business had revenue of $4.69 billion during the quarter, compared to analysts' expectations of $4.46 billion. During the same period in the prior year, the company earned $1.94 earnings per share. The business's revenue was up 11.2% compared to the same quarter last year. Sell-side 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 disclosed 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 yield of 0.86%. Trane Technologies's dividend payout ratio (DPR) is 31.28%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on TT shares. Wells Fargo & Company raised their target price on shares of Trane Technologies from $370.00 to $410.00 and gave the company an "underweight" rating in a report on Tuesday, July 1st. The Goldman Sachs Group lifted their price objective on shares of Trane Technologies from $416.00 to $460.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 8th. JPMorgan Chase & Co. increased their target price on Trane Technologies from $334.00 to $400.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Robert W. Baird lifted their price target on Trane Technologies from $360.00 to $396.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. Finally, Stephens upgraded Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 price objective on the stock in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Trane Technologies currently has a consensus rating of "Moderate Buy" and a consensus target price of $434.00.

Insider Transactions at Trane Technologies

In other news, insider Donald E. Simmons sold 3,571 shares of the firm's stock in a transaction on 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 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate 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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