1,000 Shares in Trane Technologies plc (NYSE:TT) Bought by Lynch Asset Management Inc.

Lynch Asset Management Inc. bought a new position in shares of Trane Technologies plc (NYSE:TT - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,000 shares of the company's stock, valued at approximately $337,000.

Several other large investors have also recently added to or reduced their stakes in the business. Secured Retirement Advisors LLC raised its stake in shares of Trane Technologies by 0.6% during the fourth quarter. Secured Retirement Advisors LLC now owns 4,628 shares of the company's stock valued at $1,709,000 after purchasing an additional 28 shares during the period. Kanawha Capital Management LLC grew its stake in shares of Trane Technologies by 0.6% during the fourth quarter. Kanawha Capital Management LLC now owns 4,712 shares of the company's stock valued at $1,740,000 after acquiring an additional 29 shares in the last quarter. Quadrant Capital Group LLC increased its position in shares of Trane Technologies by 0.8% during the fourth quarter. Quadrant Capital Group LLC now owns 3,786 shares of the company's stock worth $1,398,000 after acquiring an additional 30 shares during the last quarter. TFC Financial Management Inc. lifted its stake in shares of Trane Technologies by 13.1% in the fourth quarter. TFC Financial Management Inc. now owns 277 shares of the company's stock worth $102,000 after acquiring an additional 32 shares in the last quarter. Finally, Prossimo Advisors LLC lifted its stake in shares of Trane Technologies by 0.7% in the fourth quarter. Prossimo Advisors LLC now owns 4,463 shares of the company's stock worth $1,648,000 after acquiring an additional 32 shares in the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on TT. Citigroup lifted their price objective on Trane Technologies from $415.00 to $445.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Wells Fargo & Company lifted their price target on shares of Trane Technologies from $330.00 to $370.00 and gave the stock an "underweight" rating in a research note on Thursday, May 1st. Royal Bank of Canada upped their price target on shares of Trane Technologies from $363.00 to $408.00 and gave the company a "sector perform" rating in a report on Thursday, May 1st. Robert W. Baird increased their price target on shares of Trane Technologies from $360.00 to $396.00 and gave the stock a "neutral" rating in a research report on Thursday, May 1st. Finally, HSBC upgraded 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. 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $427.47.

Trane Technologies Stock Performance

TT traded down $3.47 during trading on Friday, reaching $420.84. 1,230,048 shares of the company were exchanged, compared to its average volume of 1,344,904. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $436.61. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. The firm has a 50 day moving average of $390.59 and a 200 day moving average of $376.99. The stock has a market cap of $93.85 billion, a P/E ratio of 37.41, a PEG ratio of 2.50 and a beta of 1.16.

Trane Technologies (NYSE:TT - Get Free Report) last released 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. The business had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.46 billion. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. The company's quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.94 earnings per share. On average, sell-side analysts forecast that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be issued a $0.94 dividend. The ex-dividend date is Friday, September 5th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.89%. Trane Technologies's payout ratio is currently 31.28%.

Insider Buying and Selling

In other 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 sale, the insider now 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.38% of the company's stock.

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.