ProShare Advisors LLC Raises Stock Position in Trane Technologies plc (NYSE:TT)

ProShare Advisors LLC boosted its holdings in Trane Technologies plc (NYSE:TT - Free Report) by 10.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,595 shares of the company's stock after buying an additional 3,572 shares during the period. ProShare Advisors LLC's holdings in Trane Technologies were worth $13,886,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. AdvisorNet Financial Inc grew its position in shares of Trane Technologies by 7.0% during the 4th quarter. AdvisorNet Financial Inc now owns 769 shares of the company's stock valued at $284,000 after purchasing an additional 50 shares in the last quarter. Oak Thistle LLC bought a new stake in Trane Technologies in the fourth quarter worth $489,000. Ritholtz Wealth Management lifted its stake in Trane Technologies by 5.8% in the fourth quarter. Ritholtz Wealth Management now owns 1,297 shares of the company's stock worth $479,000 after purchasing an additional 71 shares during the last quarter. Goldstone Financial Group LLC lifted its stake in Trane Technologies by 47.2% in the fourth quarter. Goldstone Financial Group LLC now owns 864 shares of the company's stock worth $319,000 after purchasing an additional 277 shares during the last quarter. Finally, Procyon Advisors LLC lifted its stake in Trane Technologies by 8.6% in the fourth quarter. Procyon Advisors LLC now owns 1,007 shares of the company's stock worth $372,000 after purchasing an additional 80 shares during the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on TT. 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. HSBC raised shares of Trane Technologies from a "hold" rating to a "buy" rating and upped their price objective for the company from $405.00 to $415.00 in a research note on Friday, April 25th. Wells Fargo & Company upped their price objective on shares of Trane Technologies from $330.00 to $370.00 and gave the company an "underweight" rating in a research note on Thursday, May 1st. UBS Group lowered their price objective on shares of Trane Technologies from $500.00 to $470.00 and set a "buy" rating for the company in a research note on Friday, January 31st. Finally, Citigroup boosted their price target on shares of Trane Technologies from $415.00 to $445.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Trane Technologies presently has a consensus rating of "Moderate Buy" and a consensus price target of $425.47.

Insider Activity at Trane Technologies

In related news, insider Donald E. Simmons sold 3,571 shares of the firm's stock in a transaction on 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 completion of the transaction, the insider now directly owns 3,593 shares of the company's stock, valued at approximately $1,365,340. This trade represents a 49.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.38% of the stock is owned by insiders.

Trane Technologies Stock Down 0.2%

Shares of NYSE:TT traded down $1.03 during trading on Tuesday, reaching $429.78. 1,037,495 shares of the stock traded hands, compared to its average volume of 1,347,441. The stock has a market cap of $95.85 billion, a P/E ratio of 38.20, a price-to-earnings-growth ratio of 2.50 and a beta of 1.14. The stock has a 50-day moving average of $359.88 and a two-hundred day moving average of $373.83. Trane Technologies plc has a 52-week low of $298.15 and a 52-week high of $435.50. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21.

Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $2.45 earnings per share for the quarter, beating analysts' consensus estimates of $2.20 by $0.25. The company had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.46 billion. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. The firm's revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.94 earnings per share. As a group, sell-side analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be given a dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.76 dividend on an annualized basis and a yield of 0.87%. Trane Technologies's dividend payout ratio (DPR) is 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.