3,456 Shares in Trane Technologies plc (NYSE:TT) Bought by Sowell Financial Services LLC

Sowell Financial Services LLC acquired a new position in Trane Technologies plc (NYSE:TT - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 3,456 shares of the company's stock, valued at approximately $1,165,000.

Several other large investors have also recently modified their holdings of the company. Brown Miller Wealth Management LLC acquired a new position in shares of Trane Technologies during the first quarter worth $307,000. Cyndeo Wealth Partners LLC grew its stake in Trane Technologies by 72.6% during the 1st quarter. Cyndeo Wealth Partners LLC now owns 15,608 shares of the company's stock worth $5,259,000 after buying an additional 6,566 shares during the last quarter. Exchange Traded Concepts LLC increased its position in Trane Technologies by 515.5% during the 1st quarter. Exchange Traded Concepts LLC now owns 9,916 shares of the company's stock valued at $3,341,000 after buying an additional 8,305 shares in the last quarter. Atlas Private Wealth Advisors increased its position in Trane Technologies by 1.2% during the 1st quarter. Atlas Private Wealth Advisors now owns 4,092 shares of the company's stock valued at $1,379,000 after buying an additional 48 shares in the last quarter. Finally, Sound Income Strategies LLC raised its stake in Trane Technologies by 793.9% in the first quarter. Sound Income Strategies LLC now owns 885 shares of the company's stock valued at $298,000 after buying an additional 786 shares during the last quarter. Institutional investors own 82.97% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on TT shares. HSBC upgraded Trane Technologies from a "hold" rating to a "buy" rating and boosted their price target for the stock from $405.00 to $415.00 in a research note on Friday, April 25th. Barclays dropped their target price on shares of Trane Technologies from $500.00 to $475.00 and set an "overweight" rating on the stock in a research report on Monday, March 10th. UBS Group raised their price target on shares of Trane Technologies from $470.00 to $500.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. Stephens raised 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 report on Thursday, May 1st. Finally, Hsbc Global Res raised Trane Technologies from a "hold" rating to a "strong-buy" rating 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 assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $427.47.

Insider Activity at Trane Technologies

In related news, insider Donald E. Simmons sold 3,571 shares of the company's stock in a transaction dated 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 completion of the transaction, the insider now owns 3,593 shares of the company's stock, 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 can be accessed through this hyperlink. Company insiders own 0.38% of the company's stock.

Trane Technologies Stock Performance

NYSE:TT traded down $2.32 during mid-day trading on Wednesday, hitting $419.63. The company's stock had a trading volume of 1,708,536 shares, compared to its average volume of 1,347,848. The business's fifty day moving average is $396.52 and its two-hundred day moving average is $376.85. The stock has a market cap of $93.58 billion, a price-to-earnings ratio of 34.91, a PEG ratio of 2.80 and a beta of 1.16. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.09 and a quick ratio of 0.74. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $436.61.

Trane Technologies (NYSE:TT - Get Free Report) last issued its 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 36.10% and a net margin of 13.47%. The firm 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 business earned $1.94 earnings per share. The company's revenue was up 11.2% compared to the same quarter last year. Analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend is Friday, September 5th. Trane Technologies's dividend payout ratio (DPR) is 31.28%.

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.