Dorsey Wright & Associates Increases Holdings in Trane Technologies plc (NYSE:TT)

Dorsey Wright & Associates boosted its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 8.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,086 shares of the company's stock after acquiring an additional 1,310 shares during the quarter. Trane Technologies comprises about 1.4% of Dorsey Wright & Associates' investment portfolio, making the stock its 17th biggest position. Dorsey Wright & Associates' holdings in Trane Technologies were worth $5,420,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Norges Bank bought a new position in shares of Trane Technologies during the fourth quarter valued at approximately $1,117,816,000. GAMMA Investing LLC grew its holdings in shares of Trane Technologies by 35,458.2% in the first quarter. GAMMA Investing LLC now owns 2,015,792 shares of the company's stock worth $679,161,000 after purchasing an additional 2,010,123 shares during the last quarter. Northern Trust Corp lifted its holdings in Trane Technologies by 20.1% during the 4th 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 in the last quarter. Pictet Asset Management Holding SA boosted its position in Trane Technologies by 27.3% in the 1st quarter. Pictet Asset Management Holding SA now owns 1,915,630 shares of the company's stock valued at $645,343,000 after buying an additional 410,734 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Trane Technologies during the fourth quarter worth approximately $147,251,000. 82.97% of the stock is owned by institutional investors.

Trane Technologies Stock Up 0.6%

Shares of NYSE TT traded up $2.86 during trading hours on Thursday, hitting $462.21. 976,635 shares of the stock were exchanged, compared to its average volume of 1,159,399. Trane Technologies plc has a 12 month low of $298.15 and a 12 month high of $464.66. The firm has a fifty day moving average price of $432.30 and a 200-day moving average price of $385.60. The company has a quick ratio of 0.74, a current ratio of 1.09 and a debt-to-equity ratio of 0.52. The company has a market cap of $103.08 billion, a PE ratio of 38.45, a PEG ratio of 2.99 and a beta of 1.15.

Trane Technologies (NYSE:TT - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $2.45 earnings per share for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $4.46 billion. During the same quarter last year, the firm earned $1.94 EPS. The business's quarterly revenue was up 11.2% on a year-over-year basis. On average, sell-side analysts expect that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Dividend Announcement

The business 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. This represents a $3.76 annualized dividend and a dividend yield of 0.81%. The ex-dividend date of this dividend is Friday, September 5th. Trane Technologies's payout ratio is currently 31.28%.

Insider Buying and Selling

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 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 approximately $1,365,340. This represents a 49.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.38% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

TT has been the subject of a number of research reports. Stephens upgraded Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 price target for the company in a report on Thursday, May 1st. JPMorgan Chase & Co. lifted their target price on Trane Technologies from $334.00 to $400.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Hsbc Global Res raised Trane Technologies from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. The Goldman Sachs Group lifted their price objective on Trane Technologies from $416.00 to $460.00 and gave the company a "neutral" rating in a report on Tuesday, July 8th. Finally, Wells Fargo & Company upped their price objective on shares of Trane Technologies from $370.00 to $410.00 and gave the stock an "underweight" rating in a research note on Tuesday, July 1st. One analyst has rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $441.40.

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.