Simplicity Wealth LLC bought a new stake in Trane Technologies plc (NYSE:TT - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 3,699 shares of the company's stock, valued at approximately $1,110,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. BKM Wealth Management LLC acquired a new stake in Trane Technologies in the 4th quarter valued at $25,000. Motco purchased a new position in Trane Technologies in the 4th quarter worth approximately $27,000. Sachetta LLC purchased a new position in Trane Technologies in the 4th quarter worth approximately $27,000. GoalVest Advisory LLC grew its position in shares of Trane Technologies by 157.1% in the first quarter. GoalVest Advisory LLC now owns 90 shares of the company's stock valued at $27,000 after purchasing an additional 55 shares in the last quarter. Finally, Dixon Mitchell Investment Counsel Inc. acquired a new position in Trane Technologies during the first quarter worth $27,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts recently issued reports on TT shares. JPMorgan Chase & Co. upped their price objective on shares of Trane Technologies from $247.00 to $300.00 and gave the company a "neutral" rating in a report on Thursday, May 2nd. Stephens raised their price target on shares of Trane Technologies from $310.00 to $320.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 1st. Citigroup increased their price objective on Trane Technologies from $355.00 to $366.00 and gave the stock a "buy" rating in a research report on Wednesday, May 1st. Mizuho lifted their target price on Trane Technologies from $280.00 to $325.00 and gave the company a "neutral" rating in a research report on Wednesday, May 1st. Finally, Wells Fargo & Company increased their price target on Trane Technologies from $281.00 to $295.00 and gave the stock an "underweight" rating in a report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $300.54.
Get Our Latest Analysis on TT
Trane Technologies Stock Up 1.4 %
Shares of Trane Technologies stock traded up $4.67 during trading hours on Tuesday, hitting $335.58. The company had a trading volume of 822,045 shares, compared to its average volume of 1,009,276. The company's 50-day moving average is $306.46 and its two-hundred day moving average is $270.12. Trane Technologies plc has a twelve month low of $162.04 and a twelve month high of $336.17. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.13 and a quick ratio of 0.74. The company has a market cap of $75.96 billion, a P/E ratio of 35.85, a price-to-earnings-growth ratio of 2.61 and a beta of 1.01.
Trane Technologies (NYSE:TT - Get Free Report) last posted its earnings results on Tuesday, April 30th. The company reported $1.94 EPS for the quarter, topping analysts' consensus estimates of $1.64 by $0.30. The business had revenue of $4.22 billion for the quarter, compared to analysts' expectations of $3.99 billion. Trane Technologies had a return on equity of 32.78% and a net margin of 11.81%. The business's revenue was up 15.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.41 earnings per share. Analysts anticipate that Trane Technologies plc will post 10.48 earnings per share for the current fiscal year.
Trane Technologies Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend is Friday, June 7th. Trane Technologies's payout ratio is currently 35.90%.
Insider Activity at Trane Technologies
In other news, SVP Evan M. Turtz sold 2,821 shares of the firm's stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $288.33, for a total transaction of $813,378.93. Following the completion of the transaction, the senior vice president now directly owns 20,729 shares of the company's stock, valued at approximately $5,976,792.57. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Donald E. Simmons sold 3,763 shares of the business's stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $288.31, for a total value of $1,084,910.53. Following the completion of the sale, the insider now owns 3,388 shares of the company's stock, valued at approximately $976,794.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Evan M. Turtz sold 2,821 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $288.33, for a total transaction of $813,378.93. Following the sale, the senior vice president now directly owns 20,729 shares in the company, valued at $5,976,792.57. The disclosure for this sale can be found here. Insiders have sold a total of 22,979 shares of company stock worth $6,603,372 in the last three months. Insiders own 0.39% of the company's stock.
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.
Further Reading
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