Impax Asset Management Group plc Cuts Stock Position in Trane Technologies plc (NYSE:TT)

Impax Asset Management Group plc reduced its holdings in Trane Technologies plc (NYSE:TT - Free Report) by 27.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 308,053 shares of the company's stock after selling 119,262 shares during the period. Impax Asset Management Group plc owned approximately 0.14% of Trane Technologies worth $103,789,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Strategic Blueprint LLC lifted its holdings in shares of Trane Technologies by 11.1% in the 1st quarter. Strategic Blueprint LLC now owns 620 shares of the company's stock worth $209,000 after acquiring an additional 62 shares during the last quarter. Catalyst Capital Advisors LLC lifted its holdings in shares of Trane Technologies by 45.2% in the 1st quarter. Catalyst Capital Advisors LLC now owns 527 shares of the company's stock worth $178,000 after acquiring an additional 164 shares during the last quarter. Huntleigh Advisors Inc. bought a new stake in shares of Trane Technologies in the 1st quarter worth about $1,725,000. OneDigital Investment Advisors LLC lifted its holdings in shares of Trane Technologies by 12.8% in the 1st quarter. OneDigital Investment Advisors LLC now owns 5,346 shares of the company's stock worth $1,801,000 after acquiring an additional 607 shares during the last quarter. Finally, TKG Advisors LLC lifted its holdings in shares of Trane Technologies by 6.4% in the 1st quarter. TKG Advisors LLC now owns 14,586 shares of the company's stock worth $4,914,000 after acquiring an additional 883 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Stock Down 0.7%

Shares of NYSE:TT traded down $3.28 during trading hours on Monday, hitting $434.11. The company's stock had a trading volume of 1,342,925 shares, compared to its average volume of 1,333,347. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $439.64. 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 company has a market capitalization of $96.82 billion, a price-to-earnings ratio of 36.12, a P/E/G ratio of 2.88 and a beta of 1.15. The firm's fifty day moving average price is $421.95 and its 200 day moving average price is $379.68.

Trane Technologies (NYSE:TT - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $2.45 EPS for the quarter, beating 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 business had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.46 billion. During the same quarter in the previous year, the business posted $1.94 EPS. The company's quarterly revenue was up 11.2% compared to the same quarter last year. As a group, research analysts expect that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Announces Dividend

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

Insider Activity

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

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on TT shares. Barclays lowered their target price on shares of Trane Technologies from $500.00 to $475.00 and set an "overweight" rating for the company in a report on Monday, March 10th. Hsbc Global Res upgraded shares of Trane Technologies from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. UBS Group lifted their price objective on shares of Trane Technologies from $470.00 to $500.00 and gave the company a "buy" rating in a report on Thursday, May 22nd. Citigroup lifted their price objective on shares of Trane Technologies from $415.00 to $445.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Finally, Stephens upgraded shares of Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 price objective for the company in a report on Thursday, May 1st. One 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 given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Trane Technologies currently has an average rating of "Moderate Buy" and an average target price 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.