Portside Wealth Group LLC Purchases New Position in Trane Technologies plc (NYSE:TT)

Portside Wealth Group LLC purchased a new position in shares of Trane Technologies plc (NYSE:TT - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 847 shares of the company's stock, valued at approximately $285,000.

A number of other hedge funds and other institutional investors have also modified their holdings of TT. Minot DeBlois Advisors LLC purchased a new stake in shares of Trane Technologies during the 4th quarter valued at about $26,000. Vermillion & White Wealth Management Group LLC bought a new stake in shares of Trane Technologies in the fourth quarter worth $28,000. Flagship Wealth Advisors LLC bought a new stake in Trane Technologies in the fourth quarter valued at about $37,000. Golden State Wealth Management LLC bought a new position in Trane Technologies during the 4th quarter worth approximately $39,000. Finally, NBC Securities Inc. bought a new stake in shares of Trane Technologies in the 1st quarter valued at approximately $39,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TT has been the subject of several research analyst reports. Barclays reduced their price objective on shares of Trane Technologies from $500.00 to $475.00 and set an "overweight" rating for the company in a report on Monday, March 10th. Hsbc Global Res upgraded shares of Trane Technologies from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. JPMorgan Chase & Co. upped their price target on shares of Trane Technologies from $334.00 to $400.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Stephens upgraded shares of Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 target price on the stock in a report on Thursday, May 1st. Finally, Robert W. Baird raised their target price on shares of Trane Technologies from $360.00 to $396.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. One 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. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $427.47.

Trane Technologies Stock Up 0.2%

Shares of TT stock traded up $0.91 on Thursday, reaching $423.87. 452,681 shares of the company's stock traded hands, compared to its average volume of 1,344,420. The company has a market capitalization of $94.53 billion, a P/E ratio of 37.68, a price-to-earnings-growth ratio of 2.50 and a beta of 1.16. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $436.61. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21. The business's 50 day moving average price is $388.43 and its two-hundred day moving average price is $376.92.

Trane Technologies (NYSE:TT - Get Free Report) last released its earnings results 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 company had revenue of $4.69 billion for the quarter, compared to analysts' expectations of $4.46 billion. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. The business's revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.94 EPS. On average, equities analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be issued 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 0.89%. Trane Technologies's dividend payout ratio (DPR) is presently 31.28%.

Insider Transactions at Trane Technologies

In related news, insider Donald E. Simmons sold 3,571 shares of the firm'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 now owns 3,593 shares in the company, valued at $1,365,340. This trade represents a 49.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.38% of the stock is currently owned by corporate insiders.

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.