Wealthfront Advisers LLC Has $9.34 Million Holdings in Trane Technologies plc (NYSE:TT)

Wealthfront Advisers LLC lowered its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 4.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,726 shares of the company's stock after selling 1,323 shares during the quarter. Wealthfront Advisers LLC's holdings in Trane Technologies were worth $9,341,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Quadrant Capital Group LLC raised its holdings in shares of 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 in the last quarter. Tradewinds Capital Management LLC raised its holdings in shares of Trane Technologies by 46.2% during the first quarter. Tradewinds Capital Management LLC now owns 95 shares of the company's stock worth $32,000 after acquiring an additional 30 shares in the last quarter. Smith Group Asset Management LLC raised its holdings in shares of Trane Technologies by 1.2% during the first quarter. Smith Group Asset Management LLC now owns 2,610 shares of the company's stock worth $879,000 after acquiring an additional 30 shares in the last quarter. Foster Group Inc. raised its holdings in shares of Trane Technologies by 1.2% during the first quarter. Foster Group Inc. now owns 2,833 shares of the company's stock worth $954,000 after acquiring an additional 33 shares in the last quarter. Finally, Prosperity Consulting Group LLC raised its holdings in Trane Technologies by 0.6% during the fourth 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. Institutional investors and hedge funds own 82.97% of the company's stock.

Trane Technologies Stock Performance

TT stock traded up $0.64 during trading on Friday, reaching $450.70. 370,933 shares of the stock were exchanged, compared to its average volume of 1,327,097. Trane Technologies plc has a twelve month low of $298.15 and a twelve month high of $452.26. The company has a market capitalization of $100.52 billion, a P/E ratio of 37.45, a price-to-earnings-growth ratio of 2.84 and a beta of 1.15. The stock has a 50 day simple moving average of $428.78 and a 200-day simple moving average of $382.96. The company has a current ratio of 1.09, a quick ratio of 0.74 and a debt-to-equity ratio of 0.52.

Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $2.45 earnings per share for the quarter, beating analysts' consensus estimates of $2.20 by $0.25. The company had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.46 billion. Trane Technologies had a return on equity of 36.10% and a net margin of 13.47%. The company's quarterly revenue was up 11.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.94 earnings per share. As a group, sell-side analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Announces Dividend

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 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date of this dividend is Friday, September 5th. Trane Technologies's payout ratio is 31.28%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. raised their target price on Trane Technologies from $334.00 to $400.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Hsbc Global Res upgraded Trane Technologies from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. Royal Bank Of Canada raised their target price on Trane Technologies from $363.00 to $408.00 and gave the company a "sector perform" rating in a report on Thursday, May 1st. Citigroup raised their target price on Trane Technologies from $445.00 to $502.00 and gave the company a "buy" rating in a report on Monday. Finally, UBS Group raised their target price on Trane Technologies from $470.00 to $500.00 and gave the company a "buy" rating in a report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $441.40.

Insiders Place Their Bets

In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of Trane Technologies stock in a transaction that occurred on 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 sale, the insider directly owned 3,593 shares of the company's stock, valued at approximately $1,365,340. The trade was a 49.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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.