Rafferty Asset Management LLC Buys 2,087 Shares of Trane Technologies plc (NYSE:TT)

Rafferty Asset Management LLC lifted its holdings in Trane Technologies plc (NYSE:TT - Free Report) by 11.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,011 shares of the company's stock after buying an additional 2,087 shares during the quarter. Rafferty Asset Management LLC's holdings in Trane Technologies were worth $7,760,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of TT. Minot DeBlois Advisors LLC purchased a new stake in shares of Trane Technologies in the 4th quarter worth approximately $26,000. Sound Income Strategies LLC raised its stake in Trane Technologies by 1,314.3% during the 4th quarter. Sound Income Strategies LLC now owns 99 shares of the company's stock valued at $37,000 after buying an additional 92 shares during the last quarter. Flagship Wealth Advisors LLC bought a new position in shares of Trane Technologies during the 4th quarter valued at $37,000. Golden State Wealth Management LLC purchased a new position in shares of Trane Technologies in the 4th quarter worth $39,000. Finally, BankPlus Trust Department bought a new stake in shares of Trane Technologies in the fourth quarter worth $45,000. 82.97% of the stock is currently owned by institutional investors.

Insider Transactions at Trane Technologies

In other 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 transaction, the insider now owns 3,593 shares of the company's stock, valued at approximately $1,365,340. The trade was a 49.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.38% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on TT shares. Royal Bank of Canada raised their target price on Trane Technologies from $363.00 to $408.00 and gave the stock a "sector perform" rating in a research report on Thursday, May 1st. Citigroup raised their price objective on shares of Trane Technologies from $415.00 to $445.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Barclays reduced their target price 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. Melius cut shares of Trane Technologies from a "buy" rating to a "hold" rating and set a $398.00 price target on the stock. in a research note on Tuesday, January 28th. Finally, HSBC raised shares of Trane Technologies from a "hold" rating to a "buy" rating and boosted their price objective for the company from $405.00 to $415.00 in a research report on Friday, April 25th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Trane Technologies has an average rating of "Moderate Buy" and a consensus price target of $425.47.

Trane Technologies Price Performance

Shares of Trane Technologies stock traded down $5.13 during trading hours on Wednesday, hitting $424.67. The company's stock had a trading volume of 1,302,841 shares, compared to its average volume of 1,349,363. The company has a market cap of $94.71 billion, a PE ratio of 37.75, a PEG ratio of 2.50 and a beta of 1.14. 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 has a 50 day moving average price of $361.71 and a two-hundred day moving average price of $374.22. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $433.49.

Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly earnings data 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. The firm 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 35.37% and a net margin of 12.94%. The business's quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.94 earnings per share. Analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be paid a $0.94 dividend. The ex-dividend date is Friday, June 6th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.89%. Trane Technologies's payout ratio is currently 31.28%.

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.