Marks Group Wealth Management Inc Makes New Investment in Trane Technologies plc (NYSE:TT)

Marks Group Wealth Management Inc purchased a new stake in Trane Technologies plc (NYSE:TT - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,675 shares of the company's stock, valued at approximately $564,000.

A number of other hedge funds have also modified their holdings of TT. WFA Asset Management Corp raised its position in shares of Trane Technologies by 208.3% during the first quarter. WFA Asset Management Corp now owns 74 shares of the company's stock worth $25,000 after purchasing an additional 50 shares during the period. Minot DeBlois Advisors LLC acquired a new stake in Trane Technologies during the 4th quarter worth approximately $26,000. Vermillion & White Wealth Management Group LLC bought a new position in Trane Technologies in the fourth quarter valued at approximately $28,000. Opal Wealth Advisors LLC acquired a new position in shares of Trane Technologies in the first quarter valued at approximately $31,000. Finally, Tradewinds Capital Management LLC increased its position in shares of Trane Technologies by 46.2% during the first quarter. Tradewinds Capital Management LLC now owns 95 shares of the company's stock worth $32,000 after acquiring an additional 30 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Trane Technologies Stock Up 0.7%

Shares of TT stock opened at $437.39 on Monday. Trane Technologies plc has a 52-week low of $298.15 and a 52-week high of $444.00. The stock has a market cap of $97.55 billion, a price-to-earnings ratio of 36.39, a PEG ratio of 2.85 and a beta of 1.15. The firm's 50-day moving average is $425.99 and its 200-day moving average is $381.20. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.74 and a current ratio of 1.09.

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

Trane Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend is Friday, September 5th. Trane Technologies's dividend payout ratio is presently 31.28%.

Insider Activity at Trane Technologies

In other Trane Technologies 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 value of $1,356,980.00. Following the transaction, the insider directly 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 SEC, which is available through this hyperlink. Insiders own 0.38% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on TT. Robert W. Baird upped their target price on shares of Trane Technologies from $360.00 to $396.00 and gave the stock a "neutral" rating in a research note on Thursday, May 1st. Royal Bank Of Canada increased their price objective on Trane Technologies from $363.00 to $408.00 and gave the stock a "sector perform" rating in a report on Thursday, May 1st. Stephens upgraded Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 target price on the stock in a research note on Thursday, May 1st. Hsbc Global Res raised Trane Technologies from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. Finally, 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. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $434.00.

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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