Morse Asset Management Inc Decreases Stock Position in Trane Technologies plc (NYSE:TT)

Morse Asset Management Inc reduced its holdings in shares of Trane Technologies plc (NYSE:TT - Free Report) by 60.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,500 shares of the company's stock after selling 2,314 shares during the quarter. Morse Asset Management Inc's holdings in Trane Technologies were worth $505,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in TT. Minot DeBlois Advisors LLC acquired a new stake in Trane Technologies in the fourth quarter worth $26,000. WFA Asset Management Corp boosted its position in shares of Trane Technologies by 208.3% in the 1st quarter. WFA Asset Management Corp now owns 74 shares of the company's stock valued at $25,000 after purchasing an additional 50 shares during the period. Vermillion & White Wealth Management Group LLC acquired a new position in shares of Trane Technologies in the 4th quarter valued at $28,000. Opal Wealth Advisors LLC acquired a new position in shares of Trane Technologies in the 1st quarter valued at $31,000. Finally, Bogart Wealth LLC boosted its position in Trane Technologies by 97.9% during the 1st quarter. Bogart Wealth LLC now owns 93 shares of the company's stock worth $31,000 after acquiring an additional 46 shares during the period. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of the business'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 directly owned 3,593 shares of the company's stock, valued at approximately $1,365,340. The trade was a 49.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.38% of the company's stock.

Trane Technologies Price Performance

Shares of NYSE TT opened at $447.29 on Friday. The stock has a market capitalization of $99.75 billion, a PE ratio of 37.21, a P/E/G ratio of 2.91 and a beta of 1.15. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.09 and a quick ratio of 0.74. The business has a fifty day moving average price of $429.64 and a two-hundred day moving average price of $383.59. Trane Technologies plc has a fifty-two week low of $298.15 and a fifty-two week high of $451.87.

Trane Technologies (NYSE:TT - Get Free Report) last announced 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. The firm had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.46 billion. Trane Technologies had a return on equity of 36.10% and a net margin of 13.47%. The business's quarterly revenue was up 11.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.94 EPS. As a group, equities analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date is Friday, September 5th. Trane Technologies's dividend payout ratio (DPR) is currently 31.28%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on TT shares. Stephens upgraded Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 price target for the company in a report on Thursday, May 1st. Citigroup lifted their price target on Trane Technologies from $445.00 to $502.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. The Goldman Sachs Group lifted their price objective on Trane Technologies from $416.00 to $460.00 and gave the stock a "neutral" rating in a report on Tuesday, July 8th. Royal Bank Of Canada lifted 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. Finally, Barclays boosted their price target on Trane Technologies from $476.00 to $480.00 and gave the company an "overweight" rating in a research note on Wednesday, July 9th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have issued 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 an average target price of $441.40.

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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