Daymark Wealth Partners LLC Acquires 376 Shares of Trane Technologies plc (NYSE:TT)

Daymark Wealth Partners LLC boosted its position in Trane Technologies plc (NYSE:TT) by 13.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,096 shares of the company’s stock after acquiring an additional 376 shares during the quarter. Daymark Wealth Partners LLC’s holdings in Trane Technologies were worth $1,043,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Minot DeBlois Advisors LLC bought a new stake in shares of Trane Technologies during the 4th quarter valued at approximately $26,000. Vermillion & White Wealth Management Group LLC bought a new stake in shares of Trane Technologies during the fourth quarter worth $28,000. Flagship Wealth Advisors LLC bought a new stake in Trane Technologies during the 4th quarter worth $37,000. Golden State Wealth Management LLC bought a new stake in Trane Technologies during the 4th quarter worth $39,000. Finally, NBC Securities Inc. bought a new stake in Trane Technologies during the 1st quarter worth $39,000. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Performance

Shares of TT opened at $427.67 on Tuesday. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $436.61. The stock’s fifty day moving average price is $384.52 and its two-hundred day moving average price is $376.28. The firm has a market cap of $95.38 billion, a PE ratio of 38.02, a PEG ratio of 2.50 and a beta of 1.16. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88.

Trane Technologies (NYSE:TT) last issued its earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.20 by $0.25. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. The business had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $4.46 billion. During the same quarter in the previous year, the firm posted $1.94 EPS. The business’s revenue for the quarter was up 11.2% compared to the same quarter last year. On average, equities research analysts forecast that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date is Friday, September 5th. Trane Technologies’s dividend payout ratio (DPR) is presently 31.28%.

Insider Transactions at Trane Technologies

In other news, insider Donald E. Simmons sold 3,571 shares of the stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $380.00, for a total transaction of $1,356,980.00. Following the transaction, the insider now directly owns 3,593 shares in the company, valued at approximately $1,365,340. This represents a 49.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.38% of the company’s stock.

Analyst Ratings Changes

TT has been the topic of several research reports. Stephens upgraded Trane Technologies from an “equal weight” rating to an “overweight” rating and set a $475.00 price target on the stock in a report on Thursday, May 1st. Hsbc Global Res upgraded Trane Technologies from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 25th. Royal Bank of Canada increased their target price on shares of Trane Technologies from $363.00 to $408.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 1st. Citigroup increased their target price on Trane Technologies from $415.00 to $445.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. Finally, HSBC raised shares of Trane Technologies from a “hold” rating to a “buy” rating and raised their price target for the company from $405.00 to $415.00 in a research report on Friday, April 25th. 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 assigned 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 $427.47.

About Trane Technologies

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.