Apollon Wealth Management LLC Raises Stock Position in Trane Technologies plc (NYSE:TT)

Apollon Wealth Management LLC grew its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 9.3% during the first quarter, according to its most recent filing with the SEC. The firm owned 10,491 shares of the company's stock after acquiring an additional 897 shares during the period. Apollon Wealth Management LLC's holdings in Trane Technologies were worth $3,535,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. CWA Asset Management Group LLC grew its holdings in shares of Trane Technologies by 19.2% during the 1st quarter. CWA Asset Management Group LLC now owns 1,135 shares of the company's stock worth $382,000 after acquiring an additional 183 shares during the period. Ethic Inc. grew its stake in shares of Trane Technologies by 150.1% in the 4th quarter. Ethic Inc. now owns 24,883 shares of the company's stock worth $9,190,000 after buying an additional 14,932 shares during the last quarter. Proficio Capital Partners LLC grew its stake in shares of Trane Technologies by 28.3% in the 4th quarter. Proficio Capital Partners LLC now owns 685 shares of the company's stock worth $253,000 after buying an additional 151 shares during the last quarter. Brighton Jones LLC grew its stake in shares of Trane Technologies by 60.0% in the 4th quarter. Brighton Jones LLC now owns 6,194 shares of the company's stock worth $2,288,000 after buying an additional 2,323 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. grew its stake in shares of Trane Technologies by 495.5% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 4,252 shares of the company's stock worth $1,433,000 after buying an additional 3,538 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

Trane Technologies Stock Performance

Shares of NYSE TT traded up $0.63 during midday trading on Friday, hitting $450.69. 321,555 shares of the stock traded hands, compared to its average volume of 1,483,319. The firm has a 50-day moving average of $428.78 and a two-hundred day moving average of $382.96. The firm has a market capitalization of $100.51 billion, a P/E ratio of 37.49, a PEG ratio of 2.84 and a beta of 1.15. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.74 and a current ratio of 1.09. Trane Technologies plc has a one year low of $298.15 and a one year high of $451.87.

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 for the quarter, beating the consensus estimate of $2.20 by $0.25. The firm had revenue of $4.69 billion for the quarter, compared to analysts' expectations of $4.46 billion. Trane Technologies had a return on equity of 36.10% and a net margin of 13.47%. The company's revenue was up 11.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.94 EPS. On average, equities analysts forecast that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

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 paid a $0.94 dividend. The ex-dividend date is Friday, September 5th. This represents a $3.76 annualized dividend and a dividend yield of 0.83%. Trane Technologies's dividend payout ratio (DPR) is 31.28%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. JPMorgan Chase & Co. upped their price target on Trane Technologies from $334.00 to $400.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. The Goldman Sachs Group upped their price target on Trane Technologies from $416.00 to $460.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 8th. Wells Fargo & Company upped their price target on Trane Technologies from $370.00 to $410.00 and gave the stock an "underweight" rating in a research note on Tuesday, July 1st. UBS Group upped their price objective on Trane Technologies from $470.00 to $500.00 and gave the company a "buy" rating in a research report on Thursday, May 22nd. Finally, Royal Bank Of Canada upped their price objective on Trane Technologies from $363.00 to $408.00 and gave the company a "sector perform" rating in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Trane Technologies currently has an average rating of "Moderate Buy" and an average target price of $441.40.

Insider Activity at Trane Technologies

In other news, insider Donald E. Simmons sold 3,571 shares of the company's 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 sale, the insider directly owned 3,593 shares in the company, valued at $1,365,340. This represents a 49.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.38% of the stock is owned by company insiders.

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.