Transcend Capital Advisors LLC Takes Position in Trane Technologies plc (NYSE:TT)

Transcend Capital Advisors LLC purchased a new position in Trane Technologies plc (NYSE:TT - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 3,509 shares of the company's stock, valued at approximately $1,182,000.

Other institutional investors also recently added to or reduced their stakes in the company. WFA Asset Management Corp increased its position in Trane Technologies by 208.3% during the 1st quarter. WFA Asset Management Corp now owns 74 shares of the company's stock valued at $25,000 after purchasing an additional 50 shares during the period. Minot DeBlois Advisors LLC purchased a new position in shares of Trane Technologies in the 4th quarter worth approximately $26,000. Vermillion & White Wealth Management Group LLC purchased a new position in shares of Trane Technologies in the 4th quarter worth approximately $28,000. Opal Wealth Advisors LLC purchased a new position in shares of Trane Technologies in the 1st quarter worth approximately $31,000. Finally, Flagship Wealth Advisors LLC purchased a new position in shares of Trane Technologies in the 4th quarter worth approximately $37,000. Hedge funds and other institutional investors own 82.97% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on TT. Citigroup lifted their target price on shares of Trane Technologies from $415.00 to $445.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Stephens upgraded shares of Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 price objective for the company in a research note on Thursday, May 1st. UBS Group lifted their price objective on shares of Trane Technologies from $470.00 to $500.00 and gave the company a "buy" rating in a research note on Thursday, May 22nd. Robert W. Baird lifted their price objective on shares of Trane Technologies from $360.00 to $396.00 and gave the company a "neutral" rating in a research note on Thursday, May 1st. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Trane Technologies from $334.00 to $400.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Trane Technologies presently has a consensus rating of "Moderate Buy" and a consensus price target of $427.47.

Insiders Place Their Bets

In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of the stock in a transaction that occurred on Wednesday, April 30th. The shares were 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.38% of the company's stock.

Trane Technologies Price Performance

NYSE TT traded up $2.85 on Friday, hitting $432.04. The company had a trading volume of 3,821,042 shares, compared to its average volume of 1,336,370. The company has a market capitalization of $96.35 billion, a PE ratio of 35.94, a PEG ratio of 2.84 and a beta of 1.16. The company's fifty day moving average price is $410.28 and its 200-day moving average price is $377.77. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.09 and a quick ratio of 0.74. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $437.41.

Trane Technologies (NYSE:TT - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.20 by $0.25. Trane Technologies had a net margin of 13.47% and a return on equity of 36.10%. The business had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.46 billion. During the same quarter in the prior year, the firm earned $1.94 earnings per share. The company's revenue for the quarter was up 11.2% compared to the same quarter last year. As a group, analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 0.87%. Trane Technologies's dividend payout ratio (DPR) is presently 31.28%.

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.