Silvercrest Asset Management Group LLC Purchases 1,990 Shares of Trane Technologies plc (NYSE:TT)

Silvercrest Asset Management Group LLC grew its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 168.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,170 shares of the company's stock after buying an additional 1,990 shares during the quarter. Silvercrest Asset Management Group LLC's holdings in Trane Technologies were worth $1,171,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the company. Ameritas Advisory Services LLC bought a new position in shares of Trane Technologies in the fourth quarter valued at approximately $468,000. Crossmark Global Holdings Inc. increased its stake in shares of Trane Technologies by 31.2% in the fourth quarter. Crossmark Global Holdings Inc. now owns 29,057 shares of the company's stock worth $10,733,000 after purchasing an additional 6,910 shares during the period. Stonegate Investment Group LLC lifted its position in shares of Trane Technologies by 11.9% during the 4th quarter. Stonegate Investment Group LLC now owns 15,378 shares of the company's stock worth $5,680,000 after purchasing an additional 1,633 shares during the last quarter. U.S. Capital Wealth Advisors LLC grew its stake in shares of Trane Technologies by 1,490.3% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 19,417 shares of the company's stock worth $7,172,000 after acquiring an additional 18,196 shares during the last quarter. Finally, Longboard Asset Management LP acquired a new stake in Trane Technologies in the 4th quarter worth $257,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Trane Technologies Price Performance

Shares of Trane Technologies stock traded down $0.55 during mid-day trading on Monday, reaching $423.71. 1,033,578 shares of the stock were exchanged, compared to its average volume of 1,354,784. The company has a market cap of $94.50 billion, a price-to-earnings ratio of 37.66, a price-to-earnings-growth ratio of 2.50 and a beta of 1.14. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. The firm has a 50-day simple moving average of $366.28 and a 200 day simple moving average of $374.86. Trane Technologies plc has a fifty-two week low of $298.15 and a fifty-two week high of $433.60.

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, topping the consensus estimate of $2.20 by $0.25. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. The firm had revenue of $4.69 billion for the quarter, compared to analysts' expectations of $4.46 billion. During the same period in the prior year, the firm earned $1.94 earnings per share. The company's quarterly revenue was up 11.2% compared to the same quarter last year. On average, sell-side analysts predict that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently declared 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 is Friday, June 6th. This represents a $3.76 annualized dividend and a dividend yield of 0.89%. Trane Technologies's dividend payout ratio (DPR) is currently 31.28%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Citigroup upped their price objective on shares of Trane Technologies from $415.00 to $445.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. UBS Group upped their price target on Trane Technologies from $470.00 to $500.00 and gave the company a "buy" rating in a report on Thursday. 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 research report on Thursday, May 1st. JPMorgan Chase & Co. boosted their price objective 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 research note on Friday, April 25th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $427.47.

Insider Buying and Selling

In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of the company's stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $380.00, for a total transaction of $1,356,980.00. Following the transaction, the insider now directly owns 3,593 shares in the company, valued at approximately $1,365,340. This represents a 49.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible 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.