Trane Technologies plc (NYSE:TT) Stock Holdings Boosted by WCM Investment Management LLC

WCM Investment Management LLC lifted its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 143.0% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 13,912 shares of the company's stock after purchasing an additional 8,188 shares during the quarter. WCM Investment Management LLC's holdings in Trane Technologies were worth $4,619,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of TT. Keybank National Association OH lifted its position in Trane Technologies by 11.2% during the 1st quarter. Keybank National Association OH now owns 31,018 shares of the company's stock worth $10,451,000 after acquiring an additional 3,134 shares in the last quarter. Rossby Financial LCC acquired a new position in Trane Technologies during the 1st quarter worth approximately $125,000. DAVENPORT & Co LLC lifted its position in Trane Technologies by 687.8% during the 1st quarter. DAVENPORT & Co LLC now owns 216,679 shares of the company's stock worth $72,773,000 after acquiring an additional 189,176 shares in the last quarter. Summit Trail Advisors LLC lifted its position in Trane Technologies by 17.3% during the 1st quarter. Summit Trail Advisors LLC now owns 5,508 shares of the company's stock worth $1,856,000 after acquiring an additional 813 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Trane Technologies by 3.0% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 61,921 shares of the company's stock worth $20,862,000 after acquiring an additional 1,785 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. JPMorgan Chase & Co. boosted their price target on Trane Technologies from $334.00 to $400.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Barclays reduced their target price on Trane Technologies from $500.00 to $475.00 and set an "overweight" rating for the company in a research note on Monday, March 10th. Royal Bank Of Canada increased their target price on Trane Technologies from $363.00 to $408.00 and gave the company a "sector perform" rating in a research note on Thursday, May 1st. Wells Fargo & Company increased their target price on Trane Technologies from $370.00 to $410.00 and gave the company an "underweight" rating in a research note on Tuesday. Finally, Citigroup increased their target price on Trane Technologies from $415.00 to $445.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $430.13.

Insiders Place Their Bets

In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of the stock in a transaction 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 sale, the insider directly owned 3,593 shares of the company's stock, valued at $1,365,340. This trade represents a 49.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.38% of the stock is owned by corporate insiders.

Trane Technologies Stock Performance

Shares of TT stock traded up $6.93 on Friday, hitting $439.64. 1,182,309 shares of the stock traded hands, compared to its average volume of 1,333,309. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.09 and a quick ratio of 0.74. The company has a market capitalization of $98.05 billion, a PE ratio of 37.29, a PEG ratio of 2.88 and a beta of 1.15. Trane Technologies plc has a 1-year low of $298.15 and a 1-year high of $438.15. The company's fifty day moving average is $420.30 and its 200 day moving average is $379.26.

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

Trane Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be given a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend is Friday, September 5th. Trane Technologies's dividend payout ratio is presently 31.28%.

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.