King Wealth Management Group Boosts Stock Position in Trane Technologies plc (NYSE:TT)

Key Points

• King Wealth Management Group increased its holdings in Trane Technologies plc by 8.7%, owning 12,647 shares valued at approximately $4.26 million as of the latest SEC filing.
• Several institutional investors, including GAMMA Investing LLC and Northern Trust Corp, significantly boosted their positions in Trane Technologies, with 82.97% of the company's stock currently owned by institutional investors.
• Trane Technologies reported $3.88 earnings per share for the last quarter, exceeding analysts' expectations and showing a 7.6% increase in revenue compared to the previous year.

King Wealth Management Group boosted its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 8.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,647 shares of the company's stock after purchasing an additional 1,010 shares during the quarter. King Wealth Management Group's holdings in Trane Technologies were worth $4,261,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of TT. Brentview Investment Management LLC lifted its holdings in shares of Trane Technologies by 6.4% during the first quarter. Brentview Investment Management LLC now owns 20,061 shares of the company's stock worth $6,759,000 after buying an additional 1,211 shares in the last quarter. Sound View Wealth Advisors Group LLC raised its holdings in shares of Trane Technologies by 21.1% during the 1st quarter. Sound View Wealth Advisors Group LLC now owns 739 shares of the company's stock worth $249,000 after buying an additional 129 shares in the last quarter. Natixis Advisors LLC raised its stake in Trane Technologies by 58.0% during the first quarter. Natixis Advisors LLC now owns 264,356 shares of the company's stock worth $89,067,000 after acquiring an additional 97,008 shares in the last quarter. NorthRock Partners LLC grew its holdings in shares of Trane Technologies by 1.9% during the 1st quarter. NorthRock Partners LLC now owns 2,028 shares of the company's stock valued at $683,000 after purchasing an additional 38 shares during the last quarter. Finally, Baader Bank Aktiengesellschaft increased its position in Trane Technologies by 24.7% during the 1st quarter. Baader Bank Aktiengesellschaft now owns 3,406 shares of the company's stock worth $1,148,000 after purchasing an additional 674 shares in the last quarter. Institutional investors own 82.97% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on TT shares. Citigroup lifted their price objective on shares of Trane Technologies from $445.00 to $502.00 and gave the company a "buy" rating in a report on Monday, July 14th. Hsbc Global Res downgraded Trane Technologies from a "strong-buy" rating to a "hold" rating in a research report on Thursday. Barclays upped their price objective on Trane Technologies from $480.00 to $495.00 and gave the company an "overweight" rating in a research note on Thursday. Morgan Stanley lifted their price target on Trane Technologies from $445.00 to $520.00 and gave the company an "overweight" rating in a research report on Thursday. Finally, Northcoast Research downgraded Trane Technologies from a "buy" rating to a "neutral" rating in a research report on Friday. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $455.67.

Trane Technologies Price Performance

TT traded up $0.93 on Friday, hitting $439.01. 1,527,204 shares of the company's stock were exchanged, compared to its average volume of 1,257,080. The firm has a 50-day moving average price of $435.56 and a 200-day moving average price of $388.61. The stock has a market cap of $97.68 billion, a price-to-earnings ratio of 35.68, a P/E/G ratio of 2.83 and a beta of 1.09. The company has a current ratio of 1.10, a quick ratio of 0.74 and a debt-to-equity ratio of 0.50. Trane Technologies plc has a fifty-two week low of $298.15 and a fifty-two week high of $476.18.

Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $3.88 EPS for the quarter, beating analysts' consensus estimates of $3.79 by $0.09. Trane Technologies had a return on equity of 36.61% and a net margin of 13.76%. The firm had revenue of $5.75 billion for the quarter, compared to analysts' expectations of $5.77 billion. During the same period in the prior year, the firm posted $3.30 earnings per share. The firm's quarterly revenue was up 7.6% on a year-over-year basis. As a group, equities analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Dividend Announcement

The business 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 dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.9%. Trane Technologies's payout ratio is currently 29.82%.

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.