HM Payson & Co. Purchases 811 Shares of Trane Technologies plc (NYSE:TT)

HM Payson & Co. grew its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 8.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,083 shares of the company's stock after acquiring an additional 811 shares during the quarter. HM Payson & Co.'s holdings in Trane Technologies were worth $3,397,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. World Investment Advisors increased its holdings in shares of Trane Technologies by 3.1% during the first 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 bought a new stake in shares of Trane Technologies during the first quarter valued at approximately $37,000. Truist Financial Corp increased its holdings in shares of Trane Technologies by 3.4% during the first quarter. Truist Financial Corp now owns 382,390 shares of the company's stock valued at $128,835,000 after acquiring an additional 12,567 shares in the last quarter. Strategic Blueprint LLC grew its holdings in Trane Technologies by 11.1% during the first quarter. Strategic Blueprint LLC now owns 620 shares of the company's stock worth $209,000 after buying an additional 62 shares in the last quarter. Finally, Catalyst Capital Advisors LLC grew its holdings in Trane Technologies by 45.2% during the first quarter. Catalyst Capital Advisors LLC now owns 527 shares of the company's stock worth $178,000 after buying an additional 164 shares in the last quarter. Institutional investors own 82.97% of the company's stock.

Insider Activity at Trane Technologies

In other news, insider Donald E. Simmons sold 3,571 shares of the company's stock in a transaction 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 owned 3,593 shares of the company's stock, valued at $1,365,340. This represents a 49.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.38% of the stock is owned by corporate insiders.

Trane Technologies Stock Up 1.6%

Shares of NYSE:TT opened at $439.64 on Friday. The company has a market capitalization of $98.05 billion, a PE ratio of 36.58, a price-to-earnings-growth ratio of 2.88 and a beta of 1.15. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.09 and a quick ratio of 0.74. The business has a fifty day moving average price of $420.30 and a two-hundred day moving average price of $379.26. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $438.15.

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, beating 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 for the quarter, compared to analysts' expectations of $4.46 billion. During the same quarter in the prior year, the firm earned $1.94 EPS. The business's revenue for the quarter was up 11.2% compared to the same quarter last year. Analysts forecast that Trane Technologies plc will post 12.83 earnings per share 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 given a dividend of $0.94 per share. The ex-dividend date is Friday, September 5th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.86%. Trane Technologies's dividend payout ratio is presently 31.28%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on TT shares. Robert W. Baird upped their price target on Trane Technologies from $360.00 to $396.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. Citigroup upped their price target on Trane Technologies from $415.00 to $445.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. JPMorgan Chase & Co. upped their price target on Trane Technologies from $334.00 to $400.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Hsbc Global Res upgraded Trane Technologies from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. Finally, Royal Bank Of Canada upped their price target on Trane Technologies from $363.00 to $408.00 and gave the stock a "sector perform" rating in a report on Thursday, May 1st. One equities research 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 company. Based on data from MarketBeat, Trane Technologies presently has an average rating of "Moderate Buy" and an average price target of $430.13.

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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