Elyxium Wealth LLC Has $1.41 Million Position in Trane Technologies plc (NYSE:TT)

Elyxium Wealth LLC increased its holdings in shares of Trane Technologies plc (NYSE:TT - Free Report) by 526.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,197 shares of the company's stock after acquiring an additional 3,527 shares during the quarter. Elyxium Wealth LLC's holdings in Trane Technologies were worth $1,414,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in TT. WFA Asset Management Corp boosted its stake in Trane Technologies by 208.3% in the 1st quarter. WFA Asset Management Corp now owns 74 shares of the company's stock valued at $25,000 after purchasing an additional 50 shares during the period. Minot DeBlois Advisors LLC bought a new stake in Trane Technologies in the 4th quarter valued at $26,000. Vermillion & White Wealth Management Group LLC bought a new stake in Trane Technologies in the 4th quarter valued at $28,000. Opal Wealth Advisors LLC bought a new stake in Trane Technologies in the 1st quarter valued at $31,000. Finally, Bogart Wealth LLC boosted its stake in Trane Technologies by 97.9% in the 1st quarter. Bogart Wealth LLC now owns 93 shares of the company's stock valued at $31,000 after purchasing an additional 46 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Trane Technologies Stock Performance

Shares of TT opened at $447.29 on Friday. The company has a current ratio of 1.09, a quick ratio of 0.74 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $99.75 billion, a price-to-earnings ratio of 37.21, a PEG ratio of 2.91 and a beta of 1.15. The stock has a 50 day moving average of $429.64 and a 200 day moving average of $383.59. Trane Technologies plc has a 12 month low of $298.15 and a 12 month high of $451.87.

Trane Technologies (NYSE:TT - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share (EPS) 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 business had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.46 billion. During the same period last year, the business posted $1.94 earnings per share. The business's revenue for the quarter was up 11.2% on a year-over-year basis. As a group, sell-side analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 0.84%. The ex-dividend date of this dividend is Friday, September 5th. Trane Technologies's dividend payout ratio (DPR) is currently 31.28%.

Insider Transactions 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 stock was 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.38% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Robert W. Baird upped their target price on Trane Technologies from $396.00 to $450.00 and gave the company a "neutral" rating in a research report on Thursday. JPMorgan Chase & Co. upped 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. Stephens upgraded Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 target price for the company in a research report on Thursday, May 1st. UBS Group upped 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. Finally, Barclays upped their target price on Trane Technologies from $476.00 to $480.00 and gave the company an "overweight" rating in a research report on Wednesday, July 9th. One investment analyst has rated the stock with a sell rating, seven have assigned 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.com, the stock currently has a consensus 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.

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