Harrell Investment Partners LLC Lowers Position in Trane Technologies plc (NYSE:TT)

Harrell Investment Partners LLC decreased its position in Trane Technologies plc (NYSE:TT - Free Report) by 8.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,846 shares of the company's stock after selling 1,461 shares during the period. Trane Technologies comprises 1.7% of Harrell Investment Partners LLC's portfolio, making the stock its 22nd largest holding. Harrell Investment Partners LLC's holdings in Trane Technologies were worth $5,676,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in TT. WFA Asset Management Corp boosted its holdings in Trane Technologies by 208.3% during the first quarter. WFA Asset Management Corp now owns 74 shares of the company's stock worth $25,000 after buying an additional 50 shares in the last quarter. Minot DeBlois Advisors LLC purchased a new stake in Trane Technologies during the fourth quarter worth about $26,000. Vermillion & White Wealth Management Group LLC purchased a new stake in Trane Technologies during the fourth quarter worth about $28,000. Opal Wealth Advisors LLC purchased a new stake in Trane Technologies during the first quarter worth about $31,000. Finally, Flagship Wealth Advisors LLC purchased a new stake in Trane Technologies during the fourth quarter worth about $37,000. Hedge funds and other institutional investors own 82.97% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TT. Robert W. Baird boosted their price objective 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. Wells Fargo & Company boosted their price objective on shares of Trane Technologies from $330.00 to $370.00 and gave the stock an "underweight" rating in a report on Thursday, May 1st. Citigroup lifted their target price on shares of Trane Technologies from $415.00 to $445.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. HSBC upgraded shares of Trane Technologies from a "hold" rating to a "buy" rating and lifted their target price for the stock from $405.00 to $415.00 in a research report on Friday, April 25th. Finally, UBS Group lifted their target price on shares of Trane Technologies from $470.00 to $500.00 and gave the stock a "buy" rating in a research report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Trane Technologies has a consensus rating of "Moderate Buy" and an average target price of $427.47.

Trane Technologies Stock Performance

Shares of TT stock opened at $419.63 on Thursday. Trane Technologies plc has a one year low of $298.15 and a one year high of $436.61. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.74 and a current ratio of 1.09. The company has a 50 day moving average price of $398.05 and a 200 day moving average price of $377.14. The firm has a market capitalization of $93.59 billion, a price-to-earnings ratio of 34.91, a price-to-earnings-growth ratio of 2.77 and a beta of 1.16.

Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $2.45 EPS for the quarter, topping the consensus estimate of $2.20 by $0.25. Trane Technologies had a net margin of 13.47% and a return on equity of 36.10%. The firm had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.46 billion. During the same quarter in the prior year, the business posted $1.94 earnings per share. Trane Technologies's revenue for the quarter was up 11.2% compared to the same quarter last year. Sell-side analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend is Friday, September 5th. Trane Technologies's dividend payout ratio (DPR) is 31.28%.

Insider Buying and Selling

In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of the business'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 completion of the sale, the insider now directly owns 3,593 shares in the company, valued at $1,365,340. The trade was a 49.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.38% of the stock is currently owned by company insiders.

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.

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