Mutual Advisors LLC Acquires 624 Shares of Trane Technologies plc (NYSE:TT)

Mutual Advisors LLC raised its position in Trane Technologies plc (NYSE:TT - Free Report) by 118.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,151 shares of the company's stock after buying an additional 624 shares during the quarter. Mutual Advisors LLC's holdings in Trane Technologies were worth $401,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Private Trust Co. NA increased its stake in Trane Technologies by 22.0% in the 1st quarter. Private Trust Co. NA now owns 942 shares of the company's stock worth $317,000 after acquiring an additional 170 shares during the last quarter. Pinnacle Financial Partners Inc boosted its holdings in Trane Technologies by 2.6% during the 1st quarter. Pinnacle Financial Partners Inc now owns 5,166 shares of the company's stock valued at $1,741,000 after acquiring an additional 131 shares during the period. Swmg LLC bought a new position in Trane Technologies during the 1st quarter valued at approximately $313,000. First Bank & Trust raised its position in Trane Technologies by 13.5% during the 1st quarter. First Bank & Trust now owns 1,649 shares of the company's stock valued at $556,000 after purchasing an additional 196 shares during the last quarter. Finally, WCM Investment Management LLC raised its position in Trane Technologies by 143.0% during the 1st quarter. WCM Investment Management LLC now owns 13,912 shares of the company's stock valued at $4,619,000 after purchasing an additional 8,188 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TT. JPMorgan Chase & Co. increased their target price on Trane Technologies from $334.00 to $400.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. HSBC upgraded Trane Technologies from a "hold" rating to a "buy" rating and increased their target price for the company from $405.00 to $415.00 in a research note on Friday, April 25th. Stephens upgraded Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 price target on the stock in a research note on Thursday, May 1st. Barclays raised their price target on Trane Technologies from $476.00 to $480.00 and gave the stock an "overweight" rating in a research note on Wednesday. Finally, UBS Group raised their target price on Trane Technologies from $470.00 to $500.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $434.00.

Insiders Place Their Bets

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 sale, the insider directly owned 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 legal filing with the SEC, which is available through this link. 0.38% of the stock is owned by insiders.

Trane Technologies Price Performance

Shares of TT stock traded up $0.57 during trading hours on Thursday, hitting $434.18. The stock had a trading volume of 1,051,158 shares, compared to its average volume of 1,334,810. Trane Technologies plc has a one year low of $298.15 and a one year high of $438.95. 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 stock's 50-day moving average price is $424.42 and its two-hundred day moving average price is $380.38. The stock has a market capitalization of $96.83 billion, a price-to-earnings ratio of 36.12, a PEG ratio of 2.82 and a beta of 1.15.

Trane Technologies (NYSE:TT - Get Free Report) last issued 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 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 analysts' expectations of $4.46 billion. During the same period in the previous year, the firm posted $1.94 earnings per share. The business's revenue was up 11.2% compared to the same quarter last year. Equities analysts forecast that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be paid a dividend of $0.94 per share. The ex-dividend date is Friday, September 5th. This represents a $3.76 annualized dividend and a yield of 0.87%. Trane Technologies's payout ratio is currently 31.28%.

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.