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

Silvercrest Asset Management Group LLC boosted its holdings in Trane Technologies plc (NYSE:TT - Free Report) by 168.6% in the fourth quarter, according to the company in its most recent 13F filing with the 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 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Rafferty Asset Management LLC lifted its holdings in shares of Trane Technologies by 11.0% during the 4th quarter. Rafferty Asset Management LLC now owns 21,011 shares of the company's stock valued at $7,760,000 after buying an additional 2,087 shares during the period. Raiffeisen Bank International AG purchased a new stake in Trane Technologies during the fourth quarter valued at $2,986,000. Polar Asset Management Partners Inc. lifted its holdings in Trane Technologies by 22.9% in the fourth quarter. Polar Asset Management Partners Inc. now owns 8,600 shares of the company's stock valued at $3,176,000 after acquiring an additional 1,600 shares during the period. ProShare Advisors LLC boosted its position in Trane Technologies by 10.5% in the fourth quarter. ProShare Advisors LLC now owns 37,595 shares of the company's stock worth $13,886,000 after purchasing an additional 3,572 shares during the last quarter. Finally, Quantinno Capital Management LP grew its stake in shares of Trane Technologies by 39.1% during the 4th quarter. Quantinno Capital Management LP now owns 15,291 shares of the company's stock valued at $5,648,000 after purchasing an additional 4,300 shares during the period. Institutional investors own 82.97% of the company's stock.

Insider Activity at Trane Technologies

In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of Trane Technologies 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 of the company's stock, valued at $1,365,340. The trade was a 49.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.38% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on TT shares. Stephens upgraded shares of Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 price objective on the stock in a research note on Thursday, May 1st. Robert W. Baird increased 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 raised shares of Trane Technologies from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. Barclays reduced their price objective on Trane Technologies from $500.00 to $475.00 and set an "overweight" rating for the company in a research note on Monday, March 10th. Finally, HSBC upgraded Trane Technologies from a "hold" rating to a "buy" rating and lifted their target price for the company from $405.00 to $415.00 in a research report on Friday, April 25th. 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 given a strong buy rating to the stock. Based on data from MarketBeat, Trane Technologies presently has an average rating of "Moderate Buy" and an average price target of $425.47.

Trane Technologies Price Performance

Shares of Trane Technologies stock opened at $429.78 on Wednesday. The company has a market capitalization of $95.85 billion, a price-to-earnings ratio of 38.20, a PEG ratio of 2.50 and a beta of 1.14. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. The stock's 50-day simple moving average is $361.71 and its 200-day simple moving average is $374.22. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $431.69.

Trane Technologies (NYSE:TT - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $2.45 EPS for the quarter, topping analysts' consensus estimates of $2.20 by $0.25. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. The company had revenue of $4.69 billion for the quarter, compared to analysts' expectations of $4.46 billion. During the same period in the previous year, the firm earned $1.94 EPS. The firm's revenue was up 11.2% compared to the same quarter last year. As a group, analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

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

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