Merit Financial Group LLC Buys 2,678 Shares of Trane Technologies plc (NYSE:TT)

Merit Financial Group LLC grew its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 64.2% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 6,848 shares of the company's stock after acquiring an additional 2,678 shares during the quarter. Merit Financial Group LLC's holdings in Trane Technologies were worth $2,307,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of TT. Consolidated Planning Corp lifted its position in shares of Trane Technologies by 8.3% during the 4th quarter. Consolidated Planning Corp now owns 14,252 shares of the company's stock worth $5,264,000 after buying an additional 1,091 shares during the last quarter. Van ECK Associates Corp lifted its position in shares of Trane Technologies by 4.9% during the 4th quarter. Van ECK Associates Corp now owns 52,058 shares of the company's stock worth $19,228,000 after buying an additional 2,438 shares during the last quarter. Ethic Inc. lifted its position in shares of Trane Technologies by 150.1% during the 4th quarter. Ethic Inc. now owns 24,883 shares of the company's stock worth $9,190,000 after buying an additional 14,932 shares during the last quarter. AustralianSuper Pty Ltd lifted its position in shares of Trane Technologies by 470.9% during the 4th quarter. AustralianSuper Pty Ltd now owns 179,794 shares of the company's stock worth $66,407,000 after buying an additional 148,302 shares during the last quarter. Finally, Proficio Capital Partners LLC lifted its position in shares of Trane Technologies by 28.3% during the 4th quarter. Proficio Capital Partners LLC now owns 685 shares of the company's stock worth $253,000 after buying an additional 151 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors.

Trane Technologies Trading Down 0.4%

Shares of TT stock opened at $431.03 on Friday. The stock has a market cap of $96.13 billion, a price-to-earnings ratio of 38.31, a PEG ratio of 2.50 and a beta of 1.14. The stock has a 50-day moving average of $381.19 and a 200-day moving average of $376.61. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. Trane Technologies plc has a 1-year low of $298.15 and a 1-year high of $436.61.

Trane Technologies (NYSE:TT - Get Free Report) last released its 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. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. The business had revenue of $4.69 billion during the quarter, compared to analysts' expectations of $4.46 billion. During the same quarter last year, the firm posted $1.94 earnings per share. The firm's revenue was up 11.2% on a year-over-year basis. On average, equities research analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current 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 paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 0.87%. Trane Technologies's dividend payout ratio is currently 31.28%.

Insider Buying and Selling

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

Analyst Ratings Changes

Several equities analysts have commented on TT shares. Citigroup increased their target price on Trane Technologies from $415.00 to $445.00 and gave the company a "buy" rating in a research 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 for the company in a research report on Thursday, May 1st. Wells Fargo & Company increased their target price on Trane Technologies from $330.00 to $370.00 and gave the company an "underweight" rating in a research report on Thursday, May 1st. Robert W. Baird increased their target price on Trane Technologies from $360.00 to $396.00 and gave the company a "neutral" rating in a research report on Thursday, May 1st. Finally, Hsbc Global Res upgraded Trane Technologies from a "hold" rating to a "strong-buy" rating 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 given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $427.47.

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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