TD Private Client Wealth LLC Has $2.66 Million Position in Trane Technologies plc (NYSE:TT)

TD Private Client Wealth LLC lifted its stake in Trane Technologies plc (NYSE:TT - Free Report) by 7.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,887 shares of the company's stock after acquiring an additional 577 shares during the period. TD Private Client Wealth LLC's holdings in Trane Technologies were worth $2,657,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Envestnet Asset Management Inc. grew its stake in shares of Trane Technologies by 12.2% in the first quarter. Envestnet Asset Management Inc. now owns 334,751 shares of the company's stock worth $112,784,000 after acquiring an additional 36,490 shares during the last quarter. Concurrent Investment Advisors LLC grew its stake in shares of Trane Technologies by 24.6% in the first quarter. Concurrent Investment Advisors LLC now owns 10,832 shares of the company's stock worth $3,649,000 after acquiring an additional 2,141 shares during the last quarter. HM Payson & Co. grew its stake in shares of Trane Technologies by 8.7% in the first quarter. HM Payson & Co. now owns 10,083 shares of the company's stock worth $3,397,000 after acquiring an additional 811 shares during the last quarter. World Investment Advisors grew its stake in shares of Trane Technologies by 3.1% in the first quarter. World Investment Advisors now owns 39,880 shares of the company's stock worth $13,436,000 after acquiring an additional 1,189 shares during the last quarter. Finally, Olde Wealth Management LLC acquired a new stake in shares of Trane Technologies in the first quarter worth $37,000. Institutional investors and hedge funds own 82.97% of the company's stock.

Trane Technologies Price Performance

Shares of Trane Technologies stock traded down $7.92 during trading on Tuesday, reaching $426.68. The company's stock had a trading volume of 1,128,616 shares, compared to its average volume of 1,523,136. The stock has a 50-day moving average price of $421.95 and a two-hundred day moving average price of $379.68. The company has a current ratio of 1.09, a quick ratio of 0.74 and a debt-to-equity ratio of 0.52. Trane Technologies plc has a one year low of $298.15 and a one year high of $438.95. The stock has a market capitalization of $95.16 billion, a P/E ratio of 35.50, a price-to-earnings-growth ratio of 2.88 and a beta of 1.15.

Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly 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 business had revenue of $4.69 billion during the quarter, compared to analysts' expectations of $4.46 billion. During the same period in the previous year, the business posted $1.94 earnings per share. The firm's revenue for the quarter was up 11.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be issued a $0.94 dividend. 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 31.28%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TT. UBS Group lifted their price target on shares of Trane Technologies from $470.00 to $500.00 and gave the stock a "buy" rating in a research note on Thursday, May 22nd. Hsbc Global Res upgraded shares of Trane Technologies from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 25th. The Goldman Sachs Group lifted their price target on shares of Trane Technologies from $416.00 to $460.00 and gave the stock a "neutral" rating in a research note on Tuesday. HSBC upgraded shares of 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 note on Friday, April 25th. 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 research note on Monday, March 10th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Trane Technologies has a consensus rating of "Moderate Buy" and a consensus price target of $433.67.

Insider Activity

In related news, insider Donald E. Simmons sold 3,571 shares of Trane Technologies 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 sale, the insider directly owned 3,593 shares in the company, valued at $1,365,340. This trade represents a 49.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.38% of the stock is owned by corporate insiders.

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.