Trane Technologies plc (NYSE:TT) Position Cut by Marietta Wealth Management LLC

Marietta Wealth Management LLC reduced its position in Trane Technologies plc (NYSE:TT - Free Report) by 20.3% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 3,718 shares of the company's stock after selling 947 shares during the quarter. Marietta Wealth Management LLC's holdings in Trane Technologies were worth $1,253,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of TT. Quadrant Capital Group LLC lifted its holdings in shares of Trane Technologies by 0.8% during the 4th 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 period. Tortoise Investment Management LLC raised its holdings in Trane Technologies by 6.5% in the fourth quarter. Tortoise Investment Management LLC now owns 537 shares of the company's stock valued at $198,000 after buying an additional 33 shares during the period. Foster Group Inc. raised its holdings in Trane Technologies by 1.2% in the first quarter. Foster Group Inc. now owns 2,833 shares of the company's stock valued at $954,000 after buying an additional 33 shares during the period. Prosperity Consulting Group LLC raised its holdings in Trane Technologies by 0.6% in the fourth quarter. Prosperity Consulting Group LLC now owns 6,036 shares of the company's stock valued at $2,229,000 after buying an additional 35 shares during the period. Finally, Integrated Wealth Concepts LLC raised its holdings in Trane Technologies by 1.6% in the fourth quarter. Integrated Wealth Concepts LLC now owns 2,444 shares of the company's stock valued at $903,000 after buying an additional 38 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Donald E. Simmons sold 3,571 shares of the firm'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 now directly owns 3,593 shares in the company, valued at $1,365,340. This trade represents a 49.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.38% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on TT shares. Robert W. Baird raised their price target on shares of Trane Technologies from $360.00 to $396.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. UBS Group raised their price target 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. HSBC upgraded shares of Trane Technologies from a "hold" rating to a "buy" rating and raised their price target for the company from $405.00 to $415.00 in a report on Friday, April 25th. Barclays cut their price target on shares of Trane Technologies from $500.00 to $475.00 and set an "overweight" rating on the stock in a report on Monday, March 10th. Finally, Wells Fargo & Company increased their price objective on shares of Trane Technologies from $330.00 to $370.00 and gave the company an "underweight" rating in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $427.47.

Trane Technologies Stock Down 0.1%

Shares of TT stock traded down $0.62 during mid-day trading on Friday, reaching $419.25. 2,199,417 shares of the company were exchanged, compared to its average volume of 1,346,748. Trane Technologies plc has a fifty-two week low of $298.15 and a fifty-two week 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 market capitalization of $93.50 billion, a P/E ratio of 34.88, a P/E/G ratio of 2.76 and a beta of 1.16. The business's 50 day simple moving average is $401.13 and its 200 day simple moving average is $376.94.

Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $4.46 billion. During the same quarter last year, the company earned $1.94 earnings per share. The business's quarterly revenue was up 11.2% compared to the same quarter last year. Research analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Dividend Announcement

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

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.