Envestnet Asset Management Inc. Boosts Stake in Trane Technologies plc (NYSE:TT)

Envestnet Asset Management Inc. boosted its stake in Trane Technologies plc (NYSE:TT - Free Report) by 12.2% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 334,751 shares of the company's stock after buying an additional 36,490 shares during the period. Envestnet Asset Management Inc. owned approximately 0.15% of Trane Technologies worth $112,784,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Concurrent Investment Advisors LLC boosted its holdings in Trane Technologies by 24.6% in the 1st quarter. Concurrent Investment Advisors LLC now owns 10,832 shares of the company's stock valued at $3,649,000 after purchasing an additional 2,141 shares during the period. HM Payson & Co. grew its position in Trane Technologies by 8.7% during the first quarter. HM Payson & Co. now owns 10,083 shares of the company's stock worth $3,397,000 after buying an additional 811 shares in the last quarter. World Investment Advisors raised its holdings in Trane Technologies by 3.1% in the 1st quarter. World Investment Advisors now owns 39,880 shares of the company's stock valued at $13,436,000 after acquiring an additional 1,189 shares in the last quarter. Olde Wealth Management LLC acquired a new stake in shares of Trane Technologies during the 1st quarter worth $37,000. Finally, Truist Financial Corp increased its position in shares of Trane Technologies by 3.4% in the first quarter. Truist Financial Corp now owns 382,390 shares of the company's stock worth $128,835,000 after purchasing an additional 12,567 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Donald E. Simmons sold 3,571 shares of the firm'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 value of $1,356,980.00. Following the completion of the transaction, the insider directly owned 3,593 shares in the company, valued at approximately $1,365,340. This trade represents a 49.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.38% of the stock is owned by corporate insiders.

Trane Technologies Stock Up 0.1%

TT stock traded up $0.57 during trading on Thursday, reaching $434.18. 1,051,158 shares of the stock were exchanged, compared to its average volume of 1,333,053. The company has a current ratio of 1.09, a quick ratio of 0.74 and a debt-to-equity ratio of 0.52. Trane Technologies plc has a twelve month low of $298.15 and a twelve month high of $438.95. The firm's 50 day moving average is $424.42 and its 200 day moving average is $380.38. The firm has a market cap of $96.83 billion, a P/E ratio of 36.12, a price-to-earnings-growth ratio of 2.78 and a beta of 1.15.

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 analysts' consensus estimates 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 36.10% and a net margin of 13.47%. Trane Technologies's quarterly revenue was up 11.2% compared to the same quarter last year. During the same period last year, the business earned $1.94 EPS. As a group, research analysts forecast that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be paid a dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $3.76 annualized dividend and a dividend yield of 0.87%. Trane Technologies's payout ratio is 31.28%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on TT. UBS Group upped their price target on shares of Trane Technologies from $470.00 to $500.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. Hsbc Global Res raised Trane Technologies from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. Citigroup increased their target price on shares of Trane Technologies from $415.00 to $445.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Royal Bank Of Canada increased their price objective on shares of Trane Technologies from $363.00 to $408.00 and gave the company a "sector perform" rating in a research note on Thursday, May 1st. Finally, Robert W. Baird upped their price target on shares of Trane Technologies from $360.00 to $396.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $434.00.

Trane Technologies Company 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.