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Clarendon Private LLC Makes New $213,000 Investment in Trane Technologies plc (NYSE:TT)

Trane Technologies logo with Construction background

Key Points

  • Clarendon Private LLC has invested approximately $213,000 in Trane Technologies plc, purchasing 632 shares during the 1st quarter.
  • Trane Technologies has seen increased activity from institutional investors, with 82.97% of the stock owned by hedge funds and other institutional entities.
  • Analysts have generally updated their ratings for Trane Technologies, with the average price target being $441.40, indicating a consensus rating of "Moderate Buy."
  • MarketBeat previews top five stocks to own in September.

Clarendon Private LLC bought a new position in shares of Trane Technologies plc (NYSE:TT - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 632 shares of the company's stock, valued at approximately $213,000.

Several other institutional investors have also recently made changes to their positions in the stock. CWA Asset Management Group LLC increased its holdings in shares of Trane Technologies by 19.2% in the first quarter. CWA Asset Management Group LLC now owns 1,135 shares of the company's stock worth $382,000 after purchasing an additional 183 shares during the period. Ethic Inc. increased its stake in Trane Technologies by 150.1% in the fourth quarter. Ethic Inc. now owns 24,883 shares of the company's stock valued at $9,190,000 after acquiring an additional 14,932 shares during the last quarter. Brighton Jones LLC increased its stake in Trane Technologies by 60.0% in the fourth quarter. Brighton Jones LLC now owns 6,194 shares of the company's stock valued at $2,288,000 after acquiring an additional 2,323 shares during the last quarter. Oppenheimer Asset Management Inc. increased its stake in Trane Technologies by 495.5% in the first quarter. Oppenheimer Asset Management Inc. now owns 4,252 shares of the company's stock valued at $1,433,000 after acquiring an additional 3,538 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its stake in Trane Technologies by 13.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 10,141 shares of the company's stock valued at $3,417,000 after acquiring an additional 1,198 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

Trane Technologies Trading Down 0.3%

Shares of Trane Technologies stock traded down $1.30 during trading on Friday, reaching $436.78. 711,230 shares of the stock were exchanged, compared to its average volume of 1,495,115. The company has a quick ratio of 0.74, a current ratio of 1.10 and a debt-to-equity ratio of 0.50. The stock's fifty day moving average is $435.26 and its 200 day moving average is $388.22. The firm has a market cap of $97.41 billion, a price-to-earnings ratio of 34.64, a price-to-earnings-growth ratio of 2.78 and a beta of 1.15. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $476.18.

Trane Technologies (NYSE:TT - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $3.88 earnings per share for the quarter, topping analysts' consensus estimates of $3.79 by $0.09. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. The company had revenue of $5.75 billion during the quarter, compared to analyst estimates of $5.77 billion. During the same period in the prior year, the business posted $3.30 earnings per share. Trane Technologies's revenue for the quarter was up 7.6% on a year-over-year basis. As a group, equities research analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

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 $0.94 dividend. The ex-dividend date is Friday, September 5th. This represents a $3.76 annualized dividend and a yield of 0.9%. Trane Technologies's dividend payout ratio (DPR) is 29.82%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Morgan Stanley increased their target price on Trane Technologies from $445.00 to $520.00 and gave the company an "overweight" rating in a research note on Thursday. Robert W. Baird increased their target price on Trane Technologies from $396.00 to $450.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. Citigroup increased their target price on Trane Technologies from $445.00 to $502.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Stephens raised Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 price objective on the stock in a research note on Thursday, May 1st. Finally, The Goldman Sachs Group raised their price objective on Trane Technologies from $416.00 to $460.00 and gave the company a "neutral" rating in a research note on Tuesday, July 8th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $455.67.

Read Our Latest Stock Report on TT

About Trane Technologies

(Free Report)

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.

Read More

Institutional Ownership by Quarter for Trane Technologies (NYSE:TT)

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