Millburn Ridgefield LLC DE Takes $216,000 Position in Trane Technologies plc (NYSE:TT)

Millburn Ridgefield LLC DE acquired a new position in shares of Trane Technologies plc (NYSE:TT - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 642 shares of the company's stock, valued at approximately $216,000.

A number of other large investors also recently bought and sold shares of the company. Consolidated Planning Corp increased its holdings in shares of Trane Technologies by 8.3% in the 4th quarter. Consolidated Planning Corp now owns 14,252 shares of the company's stock valued at $5,264,000 after purchasing an additional 1,091 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of Trane Technologies by 4.9% in the 4th quarter. Van ECK Associates Corp now owns 52,058 shares of the company's stock valued at $19,228,000 after purchasing an additional 2,438 shares in the last quarter. Ethic Inc. increased its holdings in shares of Trane Technologies by 150.1% in the 4th quarter. Ethic Inc. now owns 24,883 shares of the company's stock valued at $9,190,000 after purchasing an additional 14,932 shares in the last quarter. AustralianSuper Pty Ltd increased its holdings in shares of Trane Technologies by 470.9% in the 4th quarter. AustralianSuper Pty Ltd now owns 179,794 shares of the company's stock valued at $66,407,000 after purchasing an additional 148,302 shares in the last quarter. Finally, Proficio Capital Partners LLC increased its holdings in shares of Trane Technologies by 28.3% in the 4th quarter. Proficio Capital Partners LLC now owns 685 shares of the company's stock valued at $253,000 after purchasing an additional 151 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TT. JPMorgan Chase & Co. increased their price target on shares of Trane Technologies from $334.00 to $400.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Barclays dropped their target price on shares of Trane Technologies from $500.00 to $475.00 and set an "overweight" rating for the company in a report on Monday, March 10th. Stephens upgraded shares of Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 target price for the company in a report on Thursday, May 1st. Robert W. Baird raised their target price 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. Finally, UBS Group raised their target price 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 analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Trane Technologies currently has a consensus rating of "Moderate Buy" and a consensus price target of $427.47.

Trane Technologies Trading Down 0.8%

Shares of Trane Technologies stock traded down $3.47 during mid-day trading on Friday, hitting $420.84. 1,230,048 shares of the stock were exchanged, compared to its average volume of 1,344,909. Trane Technologies plc has a twelve month low of $298.15 and a twelve month high of $436.61. The stock has a market capitalization of $93.85 billion, a price-to-earnings ratio of 37.41, a price-to-earnings-growth ratio of 2.50 and a beta of 1.16. The company has a 50-day simple moving average of $392.71 and a 200 day simple moving average of $377.01. 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 (NYSE:TT - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $0.25. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. The business had revenue of $4.69 billion for the quarter, compared to analysts' expectations of $4.46 billion. During the same period last year, the company earned $1.94 earnings per share. The company's quarterly revenue was up 11.2% on a year-over-year basis. Research analysts forecast that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Dividend Announcement

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

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of Trane Technologies 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 transaction, the insider now directly owns 3,593 shares of the company's stock, valued at $1,365,340. The trade was a 49.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.38% of the stock is currently owned by corporate insiders.

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.