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Turtle Creek Wealth Advisors LLC Acquires Shares of 12,231 Trane Technologies plc (NYSE:TT)

Trane Technologies logo with Construction background

Turtle Creek Wealth Advisors LLC acquired a new position in shares of Trane Technologies plc (NYSE:TT - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 12,231 shares of the company's stock, valued at approximately $4,121,000.

Other hedge funds also recently modified their holdings of the company. Minot DeBlois Advisors LLC bought a new position in Trane Technologies in the 4th quarter worth approximately $26,000. WFA Asset Management Corp lifted its holdings in Trane Technologies by 208.3% during the 1st quarter. WFA Asset Management Corp now owns 74 shares of the company's stock worth $25,000 after buying an additional 50 shares in the last quarter. Vermillion & White Wealth Management Group LLC acquired a new position in Trane Technologies during the 4th quarter worth $28,000. Opal Wealth Advisors LLC acquired a new position in Trane Technologies during the 1st quarter worth $31,000. Finally, Tradewinds Capital Management LLC lifted its holdings in Trane Technologies by 46.2% during the 1st quarter. Tradewinds Capital Management LLC now owns 95 shares of the company's stock worth $32,000 after buying an additional 30 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Insider Buying and Selling at Trane Technologies

In other news, insider Donald E. Simmons sold 3,571 shares of the business's stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $380.00, for a total transaction of $1,356,980.00. Following the transaction, the insider directly owned 3,593 shares in the company, valued at $1,365,340. The trade was a 49.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.38% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on TT shares. Stephens raised Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 price objective on the stock in a report on Thursday, May 1st. Royal Bank Of Canada upped their price objective on Trane Technologies from $363.00 to $408.00 and gave the stock a "sector perform" 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. Robert W. Baird raised their price objective on shares of Trane Technologies from $396.00 to $450.00 and gave the company a "neutral" rating in a research note on Thursday. Finally, Barclays raised their price objective on shares of Trane Technologies from $476.00 to $480.00 and gave the company an "overweight" rating in a research note on Wednesday, July 9th. One equities 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 stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $441.40.

Check Out Our Latest Research Report on TT

Trane Technologies Trading Up 3.0%

Shares of NYSE TT traded up $12.99 during midday trading on Thursday, reaching $449.97. 1,151,831 shares of the stock were exchanged, compared to its average volume of 1,330,808. The business has a 50-day simple moving average of $428.78 and a two-hundred day simple moving average of $382.96. The company has a market capitalization of $100.35 billion, a price-to-earnings ratio of 37.43, a P/E/G ratio of 2.84 and a beta of 1.15. Trane Technologies plc has a 12 month low of $298.15 and a 12 month high of $450.26. 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 (NYSE:TT - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $2.45 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 for the quarter, compared to analyst estimates of $4.46 billion. During the same period last year, the business posted $1.94 earnings per share. The firm's quarterly revenue was up 11.2% on a year-over-year basis. As a group, equities research analysts expect that Trane Technologies plc will post 12.83 EPS 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 $0.94 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $3.76 annualized dividend and a yield of 0.84%. Trane Technologies's payout ratio is currently 31.28%.

About Trane Technologies

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Trane Technologies (NYSE:TT)

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