Trane Technologies plc (NYSE:TT) Stock Position Boosted by Pinnacle Bancorp Inc.

Pinnacle Bancorp Inc. grew its stake in shares of Trane Technologies plc (NYSE:TT) by 120.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 110 shares of the company’s stock after buying an additional 60 shares during the quarter. Pinnacle Bancorp Inc.’s holdings in Trane Technologies were worth $37,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in TT. CWA Asset Management Group LLC grew its stake in shares of Trane Technologies by 19.2% in the 1st quarter. CWA Asset Management Group LLC now owns 1,135 shares of the company’s stock worth $382,000 after purchasing an additional 183 shares during the last quarter. Ethic Inc. boosted its holdings in Trane Technologies by 150.1% during the fourth quarter. Ethic Inc. now owns 24,883 shares of the company’s stock worth $9,190,000 after buying an additional 14,932 shares in the last quarter. Proficio Capital Partners LLC grew its position in Trane Technologies by 28.3% in the fourth quarter. Proficio Capital Partners LLC now owns 685 shares of the company’s stock worth $253,000 after buying an additional 151 shares during the last quarter. Brighton Jones LLC increased its holdings in shares of Trane Technologies by 60.0% in the fourth quarter. Brighton Jones LLC now owns 6,194 shares of the company’s stock valued at $2,288,000 after buying an additional 2,323 shares in the last quarter. Finally, Beacon Pointe Advisors LLC lifted its position in shares of Trane Technologies by 1.3% during the 4th quarter. Beacon Pointe Advisors LLC now owns 8,137 shares of the company’s stock valued at $3,005,000 after acquiring an additional 101 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms 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. UBS Group raised their target price on Trane Technologies from $470.00 to $500.00 and gave the stock a “buy” rating in a research report on Thursday, May 22nd. Barclays lowered their price target on Trane Technologies from $500.00 to $475.00 and set an “overweight” rating on the stock in a report on Monday, March 10th. JPMorgan Chase & Co. increased their price objective on Trane Technologies from $334.00 to $400.00 and gave the stock a “neutral” rating in a research note on Friday, May 16th. Finally, Citigroup raised their price objective on Trane Technologies from $415.00 to $445.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. One 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $427.47.

Insider Buying and Selling

In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of Trane Technologies stock in a transaction that occurred on 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 sale, the insider now directly owns 3,593 shares of the company’s stock, valued at approximately $1,365,340. The trade was a 49.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.38% of the stock is owned by company insiders.

Trane Technologies Stock Performance

TT opened at $427.99 on Thursday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.74 and a current ratio of 1.09. The company has a market cap of $95.45 billion, a PE ratio of 35.61, a price-to-earnings-growth ratio of 2.82 and a beta of 1.16. The stock has a 50-day moving average of $406.39 and a 200-day moving average of $377.50. Trane Technologies plc has a 52-week low of $298.15 and a 52-week high of $436.61.

Trane Technologies (NYSE:TT) last posted 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. The firm had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.46 billion. Trane Technologies had a return on equity of 36.10% and a net margin of 13.47%. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.94 EPS. As a group, equities research analysts forecast 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. Investors of record on Friday, September 5th will be paid a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 0.88%. The ex-dividend date is Friday, September 5th. Trane Technologies’s payout ratio is presently 31.28%.

Trane Technologies Company 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.