Convergence Investment Partners LLC Buys 2,618 Shares of Trane Technologies plc (NYSE:TT)

Convergence Investment Partners LLC grew its holdings in Trane Technologies plc (NYSE:TT - Free Report) by 431.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,225 shares of the company's stock after purchasing an additional 2,618 shares during the period. Convergence Investment Partners LLC's holdings in Trane Technologies were worth $1,086,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of TT. Brighton Jones LLC increased its holdings in shares of Trane Technologies by 60.0% in the 4th quarter. Brighton Jones LLC now owns 6,194 shares of the company's stock worth $2,288,000 after purchasing an additional 2,323 shares in the last quarter. Proficio Capital Partners LLC grew its holdings in shares of Trane Technologies by 28.3% in the fourth quarter. Proficio Capital Partners LLC now owns 685 shares of the company's stock worth $253,000 after acquiring an additional 151 shares during the period. American Century Companies Inc. grew its holdings in shares of Trane Technologies by 151.8% in the fourth quarter. American Century Companies Inc. now owns 90,053 shares of the company's stock worth $33,261,000 after acquiring an additional 54,295 shares during the period. LPL Financial LLC grew its holdings in shares of Trane Technologies by 30.4% in the fourth quarter. LPL Financial LLC now owns 201,404 shares of the company's stock worth $74,389,000 after acquiring an additional 46,983 shares during the period. Finally, Congress Wealth Management LLC DE bought a new stake in shares of Trane Technologies in the fourth quarter worth $736,000. Institutional investors own 82.97% of the company's stock.

Insider Activity

In other 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 sale, the insider directly owned 3,593 shares of the company's stock, valued at approximately $1,365,340. The trade was a 49.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.38% of the company's stock.

Trane Technologies Price Performance

Shares of Trane Technologies stock traded up $10.70 during trading hours on Friday, hitting $472.43. The company's stock had a trading volume of 1,195,032 shares, compared to its average volume of 1,151,485. The business has a 50 day moving average price of $433.17 and a two-hundred day moving average price of $386.23. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $473.13. The company has a market cap of $105.36 billion, a PE ratio of 39.30, a PEG ratio of 3.07 and a beta of 1.15. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.74 and a current ratio of 1.09.

Trane Technologies (NYSE:TT - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share (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 firm had revenue of $4.69 billion for the quarter, compared to analysts' expectations of $4.46 billion. During the same period in the previous year, the firm posted $1.94 earnings per share. The business's revenue was up 11.2% compared to the same quarter last year. Analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders 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 dividend yield of 0.80%. Trane Technologies's dividend payout ratio (DPR) is 31.28%.

Analyst Ratings Changes

TT has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their price objective on Trane Technologies from $334.00 to $400.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. HSBC raised Trane Technologies from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $405.00 to $415.00 in a report on Friday, April 25th. Stephens raised Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 price objective for the company in a report on Thursday, May 1st. The Goldman Sachs Group lifted their price objective on Trane Technologies from $416.00 to $460.00 and gave the stock a "neutral" rating in a report on Tuesday, July 8th. Finally, UBS Group lifted their target price on Trane Technologies from $470.00 to $500.00 and gave the company a "buy" rating in a research report on Thursday, May 22nd. One 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 given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $441.40.

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.