Trane Technologies plc $TT Shares Bought by Lido Advisors LLC

Key Points

• Lido Advisors LLC increased its stake in Trane Technologies by 123.1% in the first quarter, ending with 30,718 shares valued at about $12.8 million.
• Trane Technologies continues to see broad institutional interest, with hedge funds and other investors owning 82.97% of the company; several firms also significantly boosted their holdings.
• The company reported better-than-expected Q1 results and raised analyst optimism, with Trane posting $2.63 EPS on $4.97 billion in revenue and maintaining a Moderate Buy consensus price target of $516.67.

Lido Advisors LLC grew its stake in Trane Technologies plc (NYSE:TT - Free Report) by 123.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,718 shares of the company's stock after purchasing an additional 16,951 shares during the period. Lido Advisors LLC's holdings in Trane Technologies were worth $12,801,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new position in shares of Trane Technologies in the 4th quarter valued at $1,163,124,000. Capital International Investors acquired a new stake in Trane Technologies during the fourth quarter valued at $324,639,000. First Trust Advisors LP grew its position in Trane Technologies by 536.6% during the first quarter. First Trust Advisors LP now owns 532,138 shares of the company's stock valued at $221,763,000 after buying an additional 448,547 shares during the period. Hsbc Holdings PLC increased its holdings in Trane Technologies by 215.9% in the first quarter. Hsbc Holdings PLC now owns 653,423 shares of the company's stock valued at $271,950,000 after buying an additional 446,598 shares in the last quarter. Finally, Corient Private Wealth LLC increased its holdings in Trane Technologies by 135.4% in the second quarter. Corient Private Wealth LLC now owns 735,589 shares of the company's stock valued at $321,757,000 after buying an additional 423,090 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Insiders Place Their Bets

In other news, insider Donald E. Simmons sold 4,593 shares of the business's stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $500.00, for a total transaction of $2,296,500.00. Following the transaction, the insider directly owned 3,819 shares in the company, valued at $1,909,500. The trade was a 54.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Citigroup increased their target price on shares of Trane Technologies from $525.00 to $570.00 and gave the stock a "buy" rating in a research note on Friday, May 1st. JPMorgan Chase & Co. upped their price target on Trane Technologies from $460.00 to $476.00 and gave the stock a "neutral" rating in a report on Thursday, May 14th. Evercore began coverage on Trane Technologies in a report on Monday, April 13th. They issued an "outperform" rating and a $535.00 price objective on the stock. BNP Paribas Exane assumed coverage on Trane Technologies in a research report on Tuesday, April 14th. They issued an "outperform" rating and a $550.00 price objective for the company. Finally, Barclays upped their target price on Trane Technologies from $507.00 to $585.00 and gave the stock an "overweight" rating in a research note on Friday, May 1st. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Trane Technologies presently has an average rating of "Moderate Buy" and a consensus price target of $516.67.

Trane Technologies Trading Up 1.5%

Shares of TT stock opened at $480.56 on Friday. Trane Technologies plc has a fifty-two week low of $348.06 and a fifty-two week high of $505.87. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.10. The stock's fifty day moving average is $469.84 and its two-hundred day moving average is $449.65. The firm has a market capitalization of $106.23 billion, a P/E ratio of 37.17, a PEG ratio of 2.18 and a beta of 1.19.

Trane Technologies (NYSE:TT - Get Free Report) last released its earnings results on Friday, May 1st. The company reported $2.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.53 by $0.10. The business had revenue of $4.97 billion during the quarter, compared to analyst estimates of $4.81 billion. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The company's revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.45 earnings per share. Research analysts expect that Trane Technologies plc will post 14.89 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, September 4th will be issued a $1.05 dividend. The ex-dividend date is Friday, September 4th. This represents a $4.20 dividend on an annualized basis and a yield of 0.9%. Trane Technologies's dividend payout ratio is presently 32.48%.

Trane Technologies Company Profile

Trane Technologies NYSE: TT is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.

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