Concurrent Investment Advisors LLC Acquires 2,141 Shares of Trane Technologies plc (NYSE:TT)

Concurrent Investment Advisors LLC boosted its holdings in Trane Technologies plc (NYSE:TT - Free Report) by 24.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,832 shares of the company's stock after acquiring an additional 2,141 shares during the period. Concurrent Investment Advisors LLC's holdings in Trane Technologies were worth $3,649,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Trane Technologies by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 19,235,570 shares of the company's stock worth $7,104,658,000 after buying an additional 152,353 shares in the last quarter. Geode Capital Management LLC boosted 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 purchasing an additional 136,349 shares during the period. Ameriprise Financial Inc. increased its holdings in shares of Trane Technologies by 4.1% during the fourth quarter. Ameriprise Financial Inc. now owns 3,343,390 shares of the company's stock worth $1,234,908,000 after purchasing an additional 130,867 shares during the period. Norges Bank acquired a new stake in shares of Trane Technologies in the fourth quarter valued at approximately $1,117,816,000. Finally, Northern Trust Corp boosted its stake in shares of Trane Technologies by 20.1% in the fourth quarter. Northern Trust Corp now owns 2,567,527 shares of the company's stock valued at $948,316,000 after buying 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 related news, insider Donald E. Simmons sold 3,571 shares of the business's stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $380.00, for a total transaction of $1,356,980.00. Following the transaction, the insider owned 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.38% of the company's stock.

Trane Technologies Trading Down 1.8%

Trane Technologies stock traded down $7.92 during trading hours on Tuesday, reaching $426.68. The stock had a trading volume of 1,128,616 shares, compared to its average volume of 1,334,779. The company has a fifty day simple moving average of $421.95 and a 200-day simple moving average of $379.68. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $438.95. The stock has a market cap of $95.16 billion, a PE ratio of 35.50, a PEG ratio of 2.88 and a beta of 1.15. 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 (NYSE:TT - Get Free Report) last announced 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. The company had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.46 billion. Trane Technologies had a return on equity of 36.10% and a net margin of 13.47%. Trane Technologies's revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.94 EPS. Analysts forecast that Trane Technologies plc will post 12.83 EPS 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 0.88%. Trane Technologies's dividend payout ratio (DPR) is presently 31.28%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on TT shares. Citigroup lifted their price objective on Trane Technologies from $415.00 to $445.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Barclays dropped their price target on Trane Technologies from $500.00 to $475.00 and set an "overweight" rating for the company in a research note on Monday, March 10th. Hsbc Global Res upgraded Trane Technologies from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. Royal Bank Of Canada increased their target price on Trane Technologies from $363.00 to $408.00 and gave the company a "sector perform" rating in a research report on Thursday, May 1st. Finally, The Goldman Sachs Group upped 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. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Trane Technologies currently has a consensus rating of "Moderate Buy" and a consensus price target of $433.67.

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.