Nwam LLC Reduces Position in Trane Technologies plc (NYSE:TT)

Nwam LLC cut its holdings in shares of Trane Technologies plc (NYSE:TT - Free Report) by 87.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,386 shares of the company's stock after selling 9,888 shares during the quarter. Nwam LLC's holdings in Trane Technologies were worth $467,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in TT. CWA Asset Management Group LLC increased its position in shares of Trane Technologies by 19.2% during the first quarter. CWA Asset Management Group LLC now owns 1,135 shares of the company's stock valued at $382,000 after buying an additional 183 shares during the period. Ethic Inc. increased its position in shares of Trane Technologies by 150.1% in the fourth quarter. Ethic Inc. now owns 24,883 shares of the company's stock worth $9,190,000 after purchasing an additional 14,932 shares during the last quarter. Proficio Capital Partners LLC increased its position in shares of Trane Technologies by 28.3% in the fourth quarter. Proficio Capital Partners LLC now owns 685 shares of the company's stock worth $253,000 after purchasing an additional 151 shares during the last quarter. Brighton Jones LLC increased its position in shares of Trane Technologies by 60.0% in the fourth quarter. Brighton Jones LLC now owns 6,194 shares of the company's stock worth $2,288,000 after purchasing an additional 2,323 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. increased its position in shares of Trane Technologies by 495.5% in the first quarter. Oppenheimer Asset Management Inc. now owns 4,252 shares of the company's stock worth $1,433,000 after purchasing an additional 3,538 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Trading Down 0.6%

Trane Technologies stock opened at $447.29 on Friday. The business has a 50-day simple moving average of $429.64 and a two-hundred day simple moving average of $383.59. The company has a market cap of $99.75 billion, a P/E ratio of 37.21, a P/E/G ratio of 2.91 and a beta of 1.15. Trane Technologies plc has a 52-week low of $298.15 and a 52-week high of $451.87. The company has a quick ratio of 0.74, a current ratio of 1.09 and a debt-to-equity ratio of 0.52.

Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.20 by $0.25. The business had revenue of $4.69 billion during 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 company posted $1.94 EPS. Analysts predict that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, September 5th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.84%. Trane Technologies's dividend payout ratio (DPR) is presently 31.28%.

Insider Activity

In related 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 transaction, the insider directly owned 3,593 shares in the company, valued at approximately $1,365,340. The trade was a 49.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.38% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented 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 research report on Friday, May 16th. UBS Group increased their price objective on Trane Technologies from $470.00 to $500.00 and gave the company a "buy" rating in a research note on Thursday, May 22nd. Robert W. Baird increased their price objective on Trane Technologies from $396.00 to $450.00 and gave the company a "neutral" rating in a research note on Thursday. The Goldman Sachs Group increased their price objective on Trane Technologies from $416.00 to $460.00 and gave the company a "neutral" rating in a research note on Tuesday, July 8th. Finally, HSBC raised Trane Technologies from a "hold" rating to a "buy" rating and increased their price objective for the company from $405.00 to $415.00 in a research note on Friday, April 25th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $441.40.

Trane Technologies 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.

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