Trane Technologies plc (NYSE:TT) Shares Acquired by Cary Street Partners Financial LLC

Cary Street Partners Financial LLC lifted its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 8.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,396 shares of the company's stock after buying an additional 1,414 shares during the period. Cary Street Partners Financial LLC's holdings in Trane Technologies were worth $5,861,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. CWA Asset Management Group LLC increased its holdings in Trane Technologies by 19.2% in the 1st quarter. CWA Asset Management Group LLC now owns 1,135 shares of the company's stock valued at $382,000 after purchasing an additional 183 shares during the last quarter. Ethic Inc. increased its holdings in Trane Technologies by 150.1% in the 4th quarter. Ethic Inc. now owns 24,883 shares of the company's stock valued at $9,190,000 after purchasing an additional 14,932 shares during the last quarter. Brighton Jones LLC increased its holdings in Trane Technologies by 60.0% in the 4th quarter. Brighton Jones LLC now owns 6,194 shares of the company's stock valued at $2,288,000 after purchasing an additional 2,323 shares during the last quarter. Oppenheimer Asset Management Inc. increased its holdings in Trane Technologies by 495.5% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 4,252 shares of the company's stock valued at $1,433,000 after purchasing an additional 3,538 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its holdings in Trane Technologies by 13.4% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 10,141 shares of the company's stock valued at $3,417,000 after purchasing an additional 1,198 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on TT. UBS Group lifted their target price on shares of Trane Technologies from $500.00 to $544.00 and gave the company a "buy" rating in a report on Tuesday. Morgan Stanley boosted their price target on shares of Trane Technologies from $445.00 to $520.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. JPMorgan Chase & Co. boosted their price target on shares of Trane Technologies from $334.00 to $400.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Stephens upgraded shares of Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 price target for the company in a research note on Thursday, May 1st. Finally, Northcoast Research downgraded shares of Trane Technologies from a "buy" rating to a "neutral" rating in a research note on Friday, August 1st. One analyst has rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $458.60.

Trane Technologies Trading Down 1.3%

Shares of TT opened at $428.52 on Wednesday. The stock's 50-day moving average is $435.62 and its two-hundred day moving average is $389.21. The stock has a market cap of $95.35 billion, a PE ratio of 33.98, a P/E/G ratio of 2.77 and a beta of 1.09. Trane Technologies plc has a 12 month low of $298.15 and a 12 month high of $476.18. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.10 and a quick ratio of 0.76.

Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $3.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.79 by $0.09. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. The firm had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $5.77 billion. During the same quarter in the previous year, the firm posted $3.30 EPS. The firm's quarterly revenue was up 7.6% on a year-over-year basis. Equities analysts forecast that Trane Technologies plc will post 12.83 earnings per share 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. Shareholders 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 yield of 0.9%. The ex-dividend date of this dividend is Friday, September 5th. Trane Technologies's dividend payout ratio (DPR) is currently 29.82%.

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.

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