Trane Technologies plc (NYSE:TT) Shares Bought by Perpetual Ltd

Perpetual Ltd lifted its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 276.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,332 shares of the company's stock after acquiring an additional 1,713 shares during the quarter. Perpetual Ltd's holdings in Trane Technologies were worth $786,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Quadrant Capital Group LLC raised its position in Trane Technologies by 0.8% during the fourth quarter. Quadrant Capital Group LLC now owns 3,786 shares of the company's stock worth $1,398,000 after acquiring an additional 30 shares during the last quarter. Tortoise Investment Management LLC increased its stake in shares of Trane Technologies by 6.5% during the 4th quarter. Tortoise Investment Management LLC now owns 537 shares of the company's stock worth $198,000 after purchasing an additional 33 shares in the last quarter. Foster Group Inc. raised its position in shares of Trane Technologies by 1.2% during the 1st quarter. Foster Group Inc. now owns 2,833 shares of the company's stock worth $954,000 after purchasing an additional 33 shares during the last quarter. Prosperity Consulting Group LLC lifted its stake in Trane Technologies by 0.6% in the 4th quarter. Prosperity Consulting Group LLC now owns 6,036 shares of the company's stock valued at $2,229,000 after buying an additional 35 shares in the last quarter. Finally, Integrated Wealth Concepts LLC grew its holdings in Trane Technologies by 1.6% during the 4th quarter. Integrated Wealth Concepts LLC now owns 2,444 shares of the company's stock valued at $903,000 after buying an additional 38 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on TT shares. Robert W. Baird boosted their price target on Trane Technologies from $360.00 to $396.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. HSBC upgraded shares of Trane Technologies from a "hold" rating to a "buy" rating and upped their target price for the company from $405.00 to $415.00 in a report on Friday, April 25th. Wells Fargo & Company raised their price target on shares of Trane Technologies from $330.00 to $370.00 and gave the stock an "underweight" rating in a research note on Thursday, May 1st. Royal Bank Of Canada boosted their price objective on shares of Trane Technologies from $363.00 to $408.00 and gave the company a "sector perform" rating in a research report on Thursday, May 1st. Finally, Stephens upgraded 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 report on Thursday, May 1st. One analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Trane Technologies has an average rating of "Moderate Buy" and an average price target of $427.47.

Trane Technologies Trading Up 0.7%

Shares of TT opened at $432.04 on Friday. Trane Technologies plc has a twelve month low of $298.15 and a twelve month high of $437.41. The firm has a market capitalization of $96.35 billion, a P/E ratio of 35.94, a price-to-earnings-growth ratio of 2.84 and a beta of 1.16. The company has a current ratio of 1.09, a quick ratio of 0.74 and a debt-to-equity ratio of 0.52. The stock's fifty day simple moving average is $410.28 and its 200 day simple moving average is $377.77.

Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $2.45 EPS for the quarter, topping 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 the consensus estimate of $4.46 billion. During the same period last year, the business posted $1.94 EPS. The company's quarterly revenue was up 11.2% compared to the same quarter last year. On average, equities research analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be paid a dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $3.76 annualized dividend and a yield of 0.87%. Trane Technologies's dividend payout ratio is currently 31.28%.

Insider Transactions at Trane Technologies

In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of the business's stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $380.00, for a total transaction of $1,356,980.00. Following the transaction, the insider now owns 3,593 shares in the company, valued at $1,365,340. The trade was a 49.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company 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.

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