TruNorth Capital Management LLC Takes $1.01 Million Position in Trane Technologies plc (NYSE:TT)

TruNorth Capital Management LLC acquired a new position in shares of Trane Technologies plc (NYSE:TT - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 3,000 shares of the company's stock, valued at approximately $1,011,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TT. Stephens Inc. AR boosted its position in shares of Trane Technologies by 11.2% in the first quarter. Stephens Inc. AR now owns 2,047 shares of the company's stock valued at $690,000 after acquiring an additional 206 shares during the period. New York State Common Retirement Fund boosted its position in shares of Trane Technologies by 2.3% in the first quarter. New York State Common Retirement Fund now owns 373,845 shares of the company's stock valued at $125,956,000 after acquiring an additional 8,416 shares during the period. Platform Technology Partners boosted its position in shares of Trane Technologies by 80.1% in the first quarter. Platform Technology Partners now owns 2,713 shares of the company's stock valued at $914,000 after acquiring an additional 1,207 shares during the period. Arizona State Retirement System boosted its position in shares of Trane Technologies by 1.5% in the first quarter. Arizona State Retirement System now owns 66,038 shares of the company's stock valued at $22,250,000 after acquiring an additional 948 shares during the period. Finally, Kathmere Capital Management LLC bought a new stake in shares of Trane Technologies in the first quarter valued at about $234,000. 82.97% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Donald E. Simmons sold 3,571 shares of the company's stock in a transaction that occurred 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 owned 3,593 shares of the company's stock, valued at $1,365,340. This represents a 49.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.38% of the stock is owned by corporate insiders.

Trane Technologies Price Performance

NYSE TT traded up $0.42 during trading on Wednesday, hitting $436.78. 587,899 shares of the company's stock were exchanged, compared to its average volume of 1,330,997. 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 has a market cap of $97.41 billion, a PE ratio of 37.20, a P/E/G ratio of 2.84 and a beta of 1.15. Trane Technologies plc has a fifty-two week low of $298.15 and a fifty-two week high of $441.19. The stock's 50 day moving average price is $427.30 and its two-hundred day moving average price is $382.03.

Trane Technologies (NYSE:TT - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $2.45 EPS for the quarter, topping the consensus estimate of $2.20 by $0.25. The firm had revenue of $4.69 billion during 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 business's quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.94 earnings per share. Research analysts expect that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Announces Dividend

The firm also recently announced 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. This represents a $3.76 annualized dividend and a yield of 0.86%. The ex-dividend date is Friday, September 5th. Trane Technologies's payout ratio is 31.28%.

Wall Street Analyst Weigh In

TT has been the subject of a number of recent research reports. Royal Bank Of Canada boosted their target price on shares of Trane Technologies from $363.00 to $408.00 and gave the company a "sector perform" rating in a research report on Thursday, May 1st. Citigroup boosted their target price on shares of Trane Technologies from $445.00 to $502.00 and gave the company a "buy" rating in a research report on Monday. Barclays boosted their price target on Trane Technologies from $476.00 to $480.00 and gave the company an "overweight" rating in a research note on Wednesday, July 9th. Wells Fargo & Company boosted their price target on Trane Technologies from $370.00 to $410.00 and gave the company an "underweight" rating in a research note on Tuesday, July 1st. Finally, JPMorgan Chase & Co. boosted their price target on Trane Technologies from $334.00 to $400.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. One research 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's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $437.80.

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.