Cypress Asset Management Inc. TX Invests $1.17 Million in Trane Technologies plc (NYSE:TT)

Cypress Asset Management Inc. TX acquired a new stake in shares of Trane Technologies plc (NYSE:TT - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,165 shares of the company's stock, valued at approximately $1,169,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Secured Retirement Advisors LLC lifted its position in shares of Trane Technologies by 0.6% during the fourth quarter. Secured Retirement Advisors LLC now owns 4,628 shares of the company's stock worth $1,709,000 after acquiring an additional 28 shares in the last quarter. Catalina Capital Group LLC raised its position in shares of Trane Technologies by 3.2% in the fourth quarter. Catalina Capital Group LLC now owns 924 shares of the company's stock worth $341,000 after buying an additional 29 shares in the last quarter. Stratos Wealth Partners LTD. raised its position in shares of Trane Technologies by 0.5% in the fourth quarter. Stratos Wealth Partners LTD. now owns 5,538 shares of the company's stock worth $2,046,000 after buying an additional 29 shares in the last quarter. Kanawha Capital Management LLC raised its position in shares of Trane Technologies by 0.6% in the fourth quarter. Kanawha Capital Management LLC now owns 4,712 shares of the company's stock worth $1,740,000 after buying an additional 29 shares in the last quarter. Finally, Kestra Private Wealth Services LLC raised its position in shares of Trane Technologies by 0.3% in the fourth quarter. Kestra Private Wealth Services LLC now owns 9,173 shares of the company's stock worth $3,388,000 after buying an additional 30 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

Trane Technologies Trading Down 0.8%

Shares of NYSE TT traded down $3.66 during trading hours on Wednesday, hitting $432.61. The company's stock had a trading volume of 1,027,824 shares, compared to its average volume of 1,354,453. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21. The stock has a market cap of $96.48 billion, a price-to-earnings ratio of 38.45, a P/E/G ratio of 2.50 and a beta of 1.14. Trane Technologies plc has a 12 month low of $298.15 and a 12 month high of $441.04. The business has a 50-day simple moving average of $369.49 and a 200-day simple moving average of $375.38.

Trane Technologies (NYSE:TT - Get Free Report) last posted 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. The company had revenue of $4.69 billion for the quarter, compared to analysts' expectations of $4.46 billion. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. Trane Technologies's quarterly revenue was up 11.2% on a year-over-year basis. During the same period last year, the firm earned $1.94 earnings per share. On average, analysts anticipate 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 Monday, June 30th. Shareholders of record on Friday, June 6th will be issued a dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, June 6th. 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 31.28%.

Insiders Place Their Bets

In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of the company's stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $380.00, for a total transaction of $1,356,980.00. Following the transaction, the insider now owns 3,593 shares in the company, valued at approximately $1,365,340. This 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 the SEC website. Company insiders own 0.38% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Citigroup increased their price objective on Trane Technologies from $415.00 to $445.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Wells Fargo & Company increased their target price on Trane Technologies from $330.00 to $370.00 and gave the company an "underweight" rating in a research note on Thursday, May 1st. HSBC raised Trane Technologies from a "hold" rating to a "buy" rating and increased their target price for the company from $405.00 to $415.00 in a research note on Friday, April 25th. Stephens raised Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 target price on the stock in a research note on Thursday, May 1st. Finally, Melius cut Trane Technologies from a "buy" rating to a "hold" rating and set a $398.00 target price on the stock. in a research note on Tuesday, January 28th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Trane Technologies currently has a consensus rating of "Moderate Buy" and an average price target of $427.47.

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.