Private Advisor Group LLC Purchases 2,366 Shares of Trane Technologies plc (NYSE:TT)

Private Advisor Group LLC raised its holdings in shares of Trane Technologies plc (NYSE:TT - Free Report) by 22.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,708 shares of the company's stock after buying an additional 2,366 shares during the quarter. Private Advisor Group LLC's holdings in Trane Technologies were worth $4,282,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Minot DeBlois Advisors LLC bought a new stake in shares of Trane Technologies during the fourth quarter valued at approximately $26,000. WFA Asset Management Corp grew its position in Trane Technologies by 208.3% in the first quarter. WFA Asset Management Corp now owns 74 shares of the company's stock valued at $25,000 after acquiring an additional 50 shares during the period. Vermillion & White Wealth Management Group LLC bought a new stake in Trane Technologies in the fourth quarter valued at $28,000. Opal Wealth Advisors LLC bought a new stake in Trane Technologies in the first quarter valued at $31,000. Finally, Bogart Wealth LLC grew its position in Trane Technologies by 97.9% in the first quarter. Bogart Wealth LLC now owns 93 shares of the company's stock valued at $31,000 after acquiring an additional 46 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Robert W. Baird upped their price target on Trane Technologies from $396.00 to $450.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. Wells Fargo & Company upped their price target on Trane Technologies from $370.00 to $410.00 and gave the company an "underweight" rating in a research report on Tuesday, July 1st. Royal Bank Of Canada upped their price target 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. JPMorgan Chase & Co. upped their price target on Trane Technologies from $334.00 to $400.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Finally, Hsbc Global Res upgraded Trane Technologies from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Trane Technologies currently has an average rating of "Moderate Buy" and a consensus price target of $441.40.

Trane Technologies Trading Up 2.3%

Shares of TT traded up $10.70 during trading hours on Friday, hitting $472.43. 1,195,032 shares of the stock traded hands, compared to its average volume of 1,151,485. Trane Technologies plc has a 1-year low of $298.15 and a 1-year high of $473.13. The business has a fifty day moving average of $433.17 and a 200-day moving average of $386.23. 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 firm has a market capitalization of $105.36 billion, a PE ratio of 39.30, a price-to-earnings-growth ratio of 3.07 and a beta of 1.15.

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. 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 analyst estimates of $4.46 billion. During the same quarter in the prior year, the firm posted $1.94 earnings per share. The company's quarterly revenue was up 11.2% on a year-over-year basis. Analysts expect that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Announces Dividend

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 paid a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 0.80%. The ex-dividend date is Friday, September 5th. Trane Technologies's payout ratio is 31.28%.

Insider Activity at Trane Technologies

In other news, insider Donald E. Simmons sold 3,571 shares of the firm'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 sale, the insider owned 3,593 shares of the company's stock, valued at $1,365,340. This trade represents a 49.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.38% of the stock is currently owned by corporate insiders.

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.