Trane Technologies plc (NYSE:TT) Shares Purchased by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. raised its holdings in Trane Technologies plc (NYSE:TT - Free Report) by 13.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,141 shares of the company's stock after purchasing an additional 1,198 shares during the period. Cambridge Investment Research Advisors Inc.'s holdings in Trane Technologies were worth $3,417,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in Trane Technologies during the 1st quarter valued at approximately $2,219,000. Center for Financial Planning Inc. lifted its stake in Trane Technologies by 3.0% in the first quarter. Center for Financial Planning Inc. now owns 2,183 shares of the company's stock valued at $735,000 after buying an additional 63 shares during the last quarter. Canton Hathaway LLC boosted its holdings in shares of Trane Technologies by 1,056.9% during the first quarter. Canton Hathaway LLC now owns 1,423 shares of the company's stock valued at $479,000 after acquiring an additional 1,300 shares during the period. Suncoast Equity Management bought a new position in shares of Trane Technologies during the first quarter worth about $2,109,000. Finally, Monte Financial Group LLC increased its holdings in shares of Trane Technologies by 9.1% in the 1st quarter. Monte Financial Group LLC now owns 3,258 shares of the company's stock worth $1,085,000 after acquiring an additional 273 shares during the period. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Donald E. Simmons sold 3,571 shares of the 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 now owns 3,593 shares in the company, valued at $1,365,340. This trade represents a 49.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.38% of the company's stock.

Analyst Ratings Changes

TT has been the subject of several recent analyst reports. Hsbc Global Res upgraded shares of Trane Technologies from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. Stephens raised Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 price objective for the company in a report on Thursday, May 1st. Robert W. Baird lifted their target price on Trane Technologies from $360.00 to $396.00 and gave the company a "neutral" rating in a research note on Thursday, May 1st. UBS Group increased their price target on Trane Technologies from $470.00 to $500.00 and gave the stock a "buy" rating in a research note on Thursday, May 22nd. Finally, Citigroup raised their price target on Trane Technologies from $415.00 to $445.00 and gave the company a "buy" rating in a 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 company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $427.47.

Trane Technologies Price Performance

Shares of Trane Technologies stock opened at $432.04 on Monday. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $437.41. 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 company's 50-day moving average price is $410.28 and its two-hundred day moving average price is $377.62. The stock has a market cap of $96.35 billion, a PE ratio of 35.94, a price-to-earnings-growth ratio of 2.84 and a beta of 1.16.

Trane Technologies (NYSE:TT - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $2.45 EPS for the quarter, topping analysts' consensus estimates of $2.20 by $0.25. The business had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.46 billion. Trane Technologies had a net margin of 13.47% and a return on equity of 36.10%. The business's revenue for the quarter was up 11.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.94 EPS. As a group, sell-side analysts anticipate 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 dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 0.87%. The ex-dividend date is Friday, September 5th. Trane Technologies's dividend payout ratio is presently 31.28%.

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.

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