Summit Trail Advisors LLC Acquires 813 Shares of Trane Technologies plc (NYSE:TT)

Summit Trail Advisors LLC lifted its holdings in shares of Trane Technologies plc (NYSE:TT - Free Report) by 17.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,508 shares of the company's stock after purchasing an additional 813 shares during the quarter. Summit Trail Advisors LLC's holdings in Trane Technologies were worth $1,856,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TT. WFA Asset Management Corp grew its stake in Trane Technologies by 208.3% during the first quarter. WFA Asset Management Corp now owns 74 shares of the company's stock worth $25,000 after buying an additional 50 shares in the last quarter. Minot DeBlois Advisors LLC bought a new stake in shares of Trane Technologies during the 4th quarter worth approximately $26,000. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of Trane Technologies during the 4th quarter worth approximately $28,000. Opal Wealth Advisors LLC bought a new position in Trane Technologies in the first quarter valued at approximately $31,000. Finally, Tradewinds Capital Management LLC raised its position in Trane Technologies by 46.2% during the first quarter. Tradewinds Capital Management LLC now owns 95 shares of the company's stock valued at $32,000 after purchasing an additional 30 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Trane Technologies

In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of the firm's stock in a transaction that occurred on 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 completion of the transaction, the insider owned 3,593 shares in the company, valued at approximately $1,365,340. This trade represents a 49.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.38% of the stock is currently owned by corporate insiders.

Trane Technologies Trading Down 0.8%

NYSE TT traded down $3.40 on Tuesday, hitting $434.01. The company's stock had a trading volume of 1,167,927 shares, compared to its average volume of 1,335,374. The company's 50-day moving average is $412.59 and its 200 day moving average is $377.88. The firm has a market cap of $96.79 billion, a PE ratio of 36.11, a PEG ratio of 2.84 and a beta of 1.16. Trane Technologies plc has a 1-year low of $298.15 and a 1-year high of $438.15. The company has a quick ratio of 0.74, a current ratio of 1.09 and a debt-to-equity ratio of 0.52.

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. The company had revenue of $4.69 billion for the quarter, compared to analysts' expectations of $4.46 billion. Trane Technologies had a net margin of 13.47% and a return on equity of 36.10%. Trane Technologies's revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.94 earnings per share. As a group, analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be given 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 0.87%. Trane Technologies's dividend payout ratio (DPR) is 31.28%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. UBS Group raised their target price on Trane Technologies from $470.00 to $500.00 and gave the company a "buy" rating in a report on Thursday, May 22nd. Citigroup raised their price objective on Trane Technologies from $415.00 to $445.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Wells Fargo & Company boosted their target price on Trane Technologies from $370.00 to $410.00 and gave the stock an "underweight" rating in a research note on Tuesday. Robert W. Baird raised their price target on shares of Trane Technologies from $360.00 to $396.00 and gave the company a "neutral" rating in a research note on Thursday, May 1st. Finally, Barclays decreased their price target on shares of Trane Technologies from $500.00 to $475.00 and set an "overweight" rating on the stock in a report on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $430.13.

Trane Technologies Company 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.