Swmg LLC Takes $313,000 Position in Trane Technologies plc (NYSE:TT)

Swmg LLC acquired a new position in Trane Technologies plc (NYSE:TT - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 900 shares of the company's stock, valued at approximately $313,000.

Several other institutional investors also recently bought and sold shares of the company. WFA Asset Management Corp lifted its stake in Trane Technologies by 208.3% in the 1st quarter. WFA Asset Management Corp now owns 74 shares of the company's stock worth $25,000 after purchasing an additional 50 shares in the last quarter. Minot DeBlois Advisors LLC purchased a new position in Trane Technologies in the 4th quarter worth approximately $26,000. Vermillion & White Wealth Management Group LLC purchased a new position in Trane Technologies in the 4th quarter worth approximately $28,000. Opal Wealth Advisors LLC purchased a new position in Trane Technologies in the 1st quarter worth approximately $31,000. Finally, Tradewinds Capital Management LLC lifted its stake in Trane Technologies by 46.2% in the 1st quarter. Tradewinds Capital Management LLC now owns 95 shares of the company's stock worth $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.

Trane Technologies Trading Up 1.6%

NYSE TT traded up $6.93 on Friday, reaching $439.64. The stock had a trading volume of 1,182,309 shares, compared to its average volume of 1,333,717. The firm has a market capitalization of $98.05 billion, a price-to-earnings ratio of 36.58, a P/E/G ratio of 2.85 and a beta of 1.15. 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 plc has a 12-month low of $298.15 and a 12-month high of $438.15. The stock has a fifty day moving average price of $418.47 and a two-hundred day moving average price of $378.93.

Trane Technologies (NYSE:TT - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share (EPS) for the quarter, beating 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 company had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.46 billion. During the same quarter in the previous year, the company earned $1.94 earnings per share. The firm's quarterly revenue was up 11.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Trane Technologies plc will post 12.83 EPS 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 $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend is Friday, September 5th. Trane Technologies's payout ratio is 31.28%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Stephens raised shares of Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 target price on the stock in a research note on Thursday, May 1st. Wells Fargo & Company raised their target price on shares of Trane Technologies from $370.00 to $410.00 and gave the stock an "underweight" rating in a research note on Tuesday. UBS Group lifted their price target on shares of Trane Technologies from $470.00 to $500.00 and gave the company a "buy" rating in a research report on Thursday, May 22nd. Robert W. Baird lifted their price target 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, JPMorgan Chase & Co. lifted their price target on shares of Trane Technologies from $334.00 to $400.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. One 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. According to MarketBeat.com, Trane Technologies has an average rating of "Moderate Buy" and a consensus target price of $430.13.

Insider Buying and Selling at Trane Technologies

In related news, insider Donald E. Simmons sold 3,571 shares of Trane Technologies stock in a transaction 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 completion of the transaction, the insider directly owned 3,593 shares in the company, valued at approximately $1,365,340. This trade represents a 49.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.38% of the company's stock.

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.