Oppenheimer & Co. Inc. Reduces Position in Trane Technologies plc (NYSE:TT)

Oppenheimer & Co. Inc. decreased its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 18.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,686 shares of the company's stock after selling 1,506 shares during the period. Oppenheimer & Co. Inc.'s holdings in Trane Technologies were worth $2,253,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Minot DeBlois Advisors LLC purchased a new position in Trane Technologies during the fourth quarter worth $26,000. WFA Asset Management Corp increased its position in Trane Technologies by 208.3% during the first quarter. WFA Asset Management Corp now owns 74 shares of the company's stock worth $25,000 after buying an additional 50 shares in the last quarter. Vermillion & White Wealth Management Group LLC purchased a new position in Trane Technologies during the fourth quarter worth $28,000. Opal Wealth Advisors LLC purchased a new position in Trane Technologies during the first quarter worth $31,000. Finally, Flagship Wealth Advisors LLC purchased a new position in Trane Technologies during the fourth quarter worth $37,000. Hedge funds and other institutional investors own 82.97% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Hsbc Global Res upgraded Trane Technologies from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. HSBC upgraded Trane Technologies from a "hold" rating to a "buy" rating and raised their price objective for the stock from $405.00 to $415.00 in a report on Friday, April 25th. Wells Fargo & Company raised their price objective on Trane Technologies from $330.00 to $370.00 and gave the stock an "underweight" rating in a report on Thursday, May 1st. Citigroup raised their price objective on Trane Technologies from $415.00 to $445.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Finally, Barclays decreased their price objective on Trane Technologies from $500.00 to $475.00 and set an "overweight" rating on the stock in a report on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Trane Technologies presently has an average rating of "Moderate Buy" and a consensus price target of $427.47.

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 dated 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 transaction, the insider now owns 3,593 shares in the company, valued at $1,365,340. The trade was a 49.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.38% of the stock is currently owned by insiders.

Trane Technologies Price Performance

Shares of Trane Technologies stock opened at $429.29 on Friday. 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 $95.74 billion, a P/E ratio of 35.71, a PEG ratio of 2.81 and a beta of 1.16. The company has a current ratio of 1.09, a quick ratio of 0.74 and a debt-to-equity ratio of 0.52. The business's fifty day moving average price is $408.31 and its 200 day moving average price is $377.69.

Trane Technologies (NYSE:TT - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share for the quarter, beating analysts' consensus estimates 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 quarter last year, the firm earned $1.94 earnings per share. The firm's revenue for the quarter was up 11.2% compared to the same quarter last year. As a group, research analysts anticipate that Trane Technologies plc will post 12.83 earnings per share 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. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date is Friday, September 5th. Trane Technologies's dividend payout ratio is presently 31.28%.

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.

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