Trane Technologies plc (NYSE:TT) Shares Acquired by Sound Income Strategies LLC

Sound Income Strategies LLC grew its holdings in shares of Trane Technologies plc (NYSE:TT - Free Report) by 793.9% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 885 shares of the company's stock after purchasing an additional 786 shares during the quarter. Sound Income Strategies LLC's holdings in Trane Technologies were worth $298,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in TT. Norges Bank purchased a new position in Trane Technologies during the fourth quarter valued at approximately $1,117,816,000. GAMMA Investing LLC lifted its stake in shares of Trane Technologies by 35,458.2% during the 1st quarter. GAMMA Investing LLC now owns 2,015,792 shares of the company's stock valued at $679,161,000 after buying an additional 2,010,123 shares in the last quarter. Raymond James Financial Inc. bought a new position in Trane Technologies in the 4th quarter worth $611,322,000. Northern Trust Corp increased its stake in Trane Technologies by 20.1% in the 4th quarter. Northern Trust Corp now owns 2,567,527 shares of the company's stock worth $948,316,000 after buying an additional 429,953 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Trane Technologies in the fourth quarter valued at about $147,251,000. Institutional investors own 82.97% of the company's stock.

Trane Technologies Trading Up 1.2%

TT stock traded up $5.24 during mid-day trading on Monday, reaching $426.63. The company had a trading volume of 1,393,756 shares, compared to its average volume of 1,541,726. The firm has a 50 day moving average of $392.71 and a 200 day moving average of $376.46. The company has a market capitalization of $95.15 billion, a PE ratio of 37.92, a price-to-earnings-growth ratio of 2.50 and a beta of 1.16. Trane Technologies plc has a 12 month low of $298.15 and a 12 month high of $436.61. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88.

Trane Technologies (NYSE:TT - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share (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 business had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.46 billion. During the same quarter in the prior year, the company earned $1.94 EPS. The business's revenue was up 11.2% compared to the same quarter last year. On average, equities analysts predict 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 Tuesday, September 30th. Stockholders of record on Friday, September 5th will be paid a dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.88%. Trane Technologies's dividend payout ratio is presently 31.28%.

Insider Activity at Trane Technologies

In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of the business's stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $380.00, for a total value of $1,356,980.00. Following the completion of the transaction, the insider now directly owns 3,593 shares in the company, valued at approximately $1,365,340. The trade was a 49.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.38% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on TT shares. Hsbc Global Res upgraded shares of Trane Technologies from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. UBS Group upped their price target on shares of Trane Technologies from $470.00 to $500.00 and gave the company a "buy" rating in a research note on Thursday, May 22nd. Royal Bank of Canada lifted their price objective on shares of Trane Technologies from $363.00 to $408.00 and gave the stock a "sector perform" rating in a research note on Thursday, May 1st. Robert W. Baird upped their target price on shares of Trane Technologies from $360.00 to $396.00 and gave the company a "neutral" rating in a research report on Thursday, May 1st. Finally, HSBC upgraded Trane Technologies from a "hold" rating to a "buy" rating and lifted their price target for the stock from $405.00 to $415.00 in a research report 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's stock. Based on data from MarketBeat.com, the stock presently has an average 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.