Trane Technologies plc (NYSE:TT) Shares Bought by Rhumbline Advisers

Rhumbline Advisers raised its stake in Trane Technologies plc (NYSE:TT - Free Report) by 1.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 441,010 shares of the company's stock after buying an additional 4,458 shares during the period. Rhumbline Advisers owned about 0.20% of Trane Technologies worth $148,585,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. Bowman & Co S.C. lifted its holdings in shares of Trane Technologies by 6.2% in the 1st quarter. Bowman & Co S.C. now owns 7,767 shares of the company's stock worth $2,618,000 after buying an additional 456 shares during the period. Fifth Third Wealth Advisors LLC raised its holdings in shares of Trane Technologies by 7.4% in the first quarter. Fifth Third Wealth Advisors LLC now owns 8,068 shares of the company's stock valued at $2,718,000 after acquiring an additional 556 shares in the last quarter. Cerro Pacific Wealth Advisors LLC lifted its stake in Trane Technologies by 11.1% in the first quarter. Cerro Pacific Wealth Advisors LLC now owns 833 shares of the company's stock worth $308,000 after acquiring an additional 83 shares during the period. Fulcrum Capital LLC grew its holdings in Trane Technologies by 0.4% during the 1st quarter. Fulcrum Capital LLC now owns 42,046 shares of the company's stock worth $14,166,000 after acquiring an additional 163 shares in the last quarter. Finally, GoalVest Advisory LLC increased its position in Trane Technologies by 93.3% during the 1st quarter. GoalVest Advisory LLC now owns 174 shares of the company's stock valued at $59,000 after purchasing an additional 84 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Trane Technologies Stock Up 0.7%

Trane Technologies stock traded up $3.05 during midday trading on Tuesday, reaching $433.41. The company's stock had a trading volume of 1,142,195 shares, compared to its average volume of 1,352,418. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88. The stock has a market capitalization of $96.66 billion, a P/E ratio of 38.53, a PEG ratio of 2.50 and a beta of 1.14. The stock's 50-day simple moving average is $375.55 and its 200-day simple moving average is $375.67. Trane Technologies plc has a 52-week low of $298.15 and a 52-week high of $436.61.

Trane Technologies (NYSE:TT - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $2.45 EPS for the quarter, beating the consensus estimate 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 net margin of 12.94% and a return on equity of 35.37%. Trane Technologies's revenue was up 11.2% on a year-over-year basis. During the same period last year, the firm posted $1.94 EPS. On average, sell-side analysts expect that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be paid a dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.76 annualized dividend and a dividend yield of 0.87%. Trane Technologies's payout ratio is currently 31.28%.

Insider Activity

In related news, insider Donald E. Simmons sold 3,571 shares of the company'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 value of $1,356,980.00. Following the sale, the insider now owns 3,593 shares in the company, valued at $1,365,340. This represents a 49.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.38% of the company's stock.

Wall Street Analyst Weigh In

TT has been the subject of several research reports. Robert W. Baird upped their price target on shares of Trane Technologies from $360.00 to $396.00 and gave the stock a "neutral" rating in a research report on Thursday, May 1st. Hsbc Global Res upgraded Trane Technologies from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. Citigroup lifted their price target on Trane Technologies from $415.00 to $445.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Barclays reduced their price target 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. Finally, Royal Bank of Canada raised their price objective 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. One 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $427.47.

Trane Technologies 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.