Trane Technologies plc (NYSE:TT) Shares Purchased by Relyea Zuckerberg Hanson LLC

Relyea Zuckerberg Hanson LLC increased its position in shares of Trane Technologies plc (NYSE:TT) by 9.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 755 shares of the company’s stock after purchasing an additional 63 shares during the period. Relyea Zuckerberg Hanson LLC’s holdings in Trane Technologies were worth $254,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. NorthCrest Asset Manangement LLC boosted its stake in Trane Technologies by 19.0% in the first quarter. NorthCrest Asset Manangement LLC now owns 3,543 shares of the company’s stock valued at $1,194,000 after acquiring an additional 565 shares in the last quarter. Rockland Trust Co. acquired a new position in Trane Technologies in the first quarter valued at $273,000. Fifth Third Bancorp boosted its stake in Trane Technologies by 4.2% in the first quarter. Fifth Third Bancorp now owns 9,952 shares of the company’s stock valued at $3,353,000 after acquiring an additional 401 shares in the last quarter. Simon Quick Advisors LLC boosted its stake in Trane Technologies by 22.2% in the first quarter. Simon Quick Advisors LLC now owns 1,199 shares of the company’s stock valued at $404,000 after acquiring an additional 218 shares in the last quarter. Finally, Millburn Ridgefield LLC DE acquired a new position in Trane Technologies in the first quarter valued at $216,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Trading Down 0.8%

NYSE TT opened at $420.84 on Friday. The stock has a market capitalization of $93.85 billion, a P/E ratio of 37.41, a P/E/G ratio of 2.50 and a beta of 1.16. Trane Technologies plc has a 52-week low of $298.15 and a 52-week high of $436.61. The firm has a 50-day moving average price of $392.71 and a 200 day moving average price of $377.01. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58.

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 company had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.46 billion. During the same period last year, the company posted $1.94 earnings per share. The firm’s quarterly revenue was up 11.2% compared to the same quarter last year. Equities research analysts expect that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Dividend Announcement

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 issued a $0.94 dividend. The ex-dividend date is Friday, September 5th. This represents a $3.76 dividend on an annualized basis and a yield of 0.89%. Trane Technologies’s dividend payout ratio (DPR) is presently 31.28%.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of the stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $380.00, for a total value 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.38% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. 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. Citigroup increased their target price on shares of Trane Technologies from $415.00 to $445.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. UBS Group increased their target price on shares of Trane Technologies from $470.00 to $500.00 and gave the stock a “buy” rating in a research note on Thursday, May 22nd. JPMorgan Chase & Co. increased their target price on shares of Trane Technologies from $334.00 to $400.00 and gave the stock a “neutral” rating in a research note on Friday, May 16th. Finally, Robert W. Baird increased their target price on shares of Trane Technologies from $360.00 to $396.00 and gave the stock a “neutral” rating in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.