Oppenheimer Asset Management Inc. Grows Stock Holdings in Trane Technologies plc (NYSE:TT)

Oppenheimer Asset Management Inc. boosted its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 495.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,252 shares of the company's stock after buying an additional 3,538 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in Trane Technologies were worth $1,433,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Trane Technologies by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 19,235,570 shares of the company's stock worth $7,104,658,000 after acquiring an additional 152,353 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Trane Technologies by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 4,775,263 shares of the company's stock worth $1,760,549,000 after acquiring an additional 136,349 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of Trane Technologies by 4.1% in the 4th quarter. Ameriprise Financial Inc. now owns 3,343,390 shares of the company's stock worth $1,234,908,000 after acquiring an additional 130,867 shares in the last quarter. Norges Bank bought a new position in shares of Trane Technologies in the 4th quarter worth about $1,117,816,000. Finally, Northern Trust Corp raised its position in shares of Trane Technologies by 20.1% in the 4th quarter. Northern Trust Corp now owns 2,567,527 shares of the company's stock worth $948,316,000 after acquiring an additional 429,953 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Donald E. Simmons sold 3,571 shares of the stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $380.00, for a total value of $1,356,980.00. Following the sale, the insider now owns 3,593 shares in the company, valued at approximately $1,365,340. This trade represents a 49.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.38% of the company's stock.

Trane Technologies Stock Performance

NYSE TT traded up $2.85 on Friday, hitting $432.04. 3,821,042 shares of the stock traded hands, compared to its average volume of 1,336,370. The business's fifty day moving average is $410.28 and its two-hundred day moving average is $377.77. Trane Technologies plc has a 12 month low of $298.15 and a 12 month high of $437.41. The firm has a market capitalization of $96.35 billion, a price-to-earnings ratio of 35.94, a PEG ratio of 2.84 and a beta of 1.16. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.74 and a current ratio of 1.09.

Trane Technologies (NYSE:TT - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $2.45 earnings per share for the quarter, beating the consensus estimate of $2.20 by $0.25. The business had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.46 billion. Trane Technologies had a return on equity of 36.10% and a net margin of 13.47%. Trane Technologies's revenue was up 11.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.94 earnings per share. As a group, equities analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

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

Analysts Set New Price Targets

TT has been the subject of a number of research analyst reports. Barclays decreased their target price on Trane Technologies from $500.00 to $475.00 and set an "overweight" rating for the company in a research report on Monday, March 10th. Citigroup boosted 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. Robert W. Baird boosted 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. Royal Bank Of Canada boosted their target price on Trane Technologies from $363.00 to $408.00 and gave the company a "sector perform" rating in a research report on Thursday, May 1st. Finally, Stephens raised 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. 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 assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $427.47.

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.