Greenwood Capital Associates LLC Decreases Stock Holdings in Trane Technologies plc (NYSE:TT)

Greenwood Capital Associates LLC trimmed its holdings in Trane Technologies plc (NYSE:TT - Free Report) by 12.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,625 shares of the company's stock after selling 1,951 shares during the period. Greenwood Capital Associates LLC's holdings in Trane Technologies were worth $4,591,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in TT. Fifth Third Bancorp boosted its holdings in shares of Trane Technologies by 4.2% during the first quarter. Fifth Third Bancorp now owns 9,952 shares of the company's stock worth $3,353,000 after acquiring an additional 401 shares during the period. Simon Quick Advisors LLC lifted its holdings in Trane Technologies by 22.2% during the 1st quarter. Simon Quick Advisors LLC now owns 1,199 shares of the company's stock worth $404,000 after purchasing an additional 218 shares during the last quarter. Millburn Ridgefield LLC DE acquired a new position in Trane Technologies in the 1st quarter valued at $216,000. My Legacy Advisors LLC lifted its holdings in shares of Trane Technologies by 10.8% during the first quarter. My Legacy Advisors LLC now owns 5,686 shares of the company's stock worth $1,916,000 after buying an additional 556 shares in the last quarter. Finally, CX Institutional increased its position in Trane Technologies by 7.3% during the first quarter. CX Institutional now owns 1,427 shares of the company's stock worth $481,000 after acquiring an additional 97 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Trane Technologies Stock Down 0.9%

Shares of NYSE:TT traded down $3.90 during mid-day trading on Friday, hitting $420.41. 629,884 shares of the company traded hands, compared to its average volume of 1,342,581. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $436.61. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. The stock has a 50-day moving average price of $390.59 and a two-hundred day moving average price of $376.99. The stock has a market cap of $93.76 billion, a P/E ratio of 37.39, a P/E/G ratio of 2.50 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 company 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 35.37% and a net margin of 12.94%. The business's revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.94 EPS. On average, equities research analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be given a dividend of $0.94 per share. The ex-dividend date is Friday, September 5th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.89%. Trane Technologies's dividend payout ratio is presently 31.28%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. UBS Group increased their target price on Trane Technologies from $470.00 to $500.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. Wells Fargo & Company increased their price objective 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. Robert W. Baird upped their price target on shares of Trane Technologies from $360.00 to $396.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. Hsbc Global Res raised shares of Trane Technologies from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 25th. Finally, Citigroup raised their target price on Trane Technologies from $415.00 to $445.00 and gave the company a "buy" rating in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $427.47.

Insider Activity at Trane Technologies

In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of the company's 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 transaction, the insider now directly owns 3,593 shares in the company, valued at $1,365,340. This represents a 49.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.38% of the stock is currently 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.