Trane Technologies plc (NYSE:TT) Position Increased by Proficio Capital Partners LLC

Proficio Capital Partners LLC increased its position in shares of Trane Technologies plc (NYSE:TT) by 5.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 719 shares of the company’s stock after acquiring an additional 34 shares during the quarter. Proficio Capital Partners LLC’s holdings in Trane Technologies were worth $242,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. KLP Kapitalforvaltning AS lifted its position in Trane Technologies by 0.9% in the 1st quarter. KLP Kapitalforvaltning AS now owns 115,183 shares of the company’s stock worth $38,807,000 after buying an additional 1,000 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of Trane Technologies during the 1st quarter valued at $863,000. Choreo LLC raised its holdings in shares of Trane Technologies by 0.6% during the 1st quarter. Choreo LLC now owns 13,121 shares of the company’s stock valued at $4,421,000 after purchasing an additional 74 shares in the last quarter. HighPoint Advisor Group LLC raised its holdings in shares of Trane Technologies by 2.1% during the 1st quarter. HighPoint Advisor Group LLC now owns 11,414 shares of the company’s stock valued at $4,034,000 after purchasing an additional 235 shares in the last quarter. Finally, Crestwood Advisors Group LLC raised its holdings in shares of Trane Technologies by 2.0% during the 1st quarter. Crestwood Advisors Group LLC now owns 27,123 shares of the company’s stock valued at $9,138,000 after purchasing an additional 539 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on TT shares. 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. Wells Fargo & Company upped their target price on shares of Trane Technologies from $370.00 to $410.00 and gave the company an “underweight” rating in a research note on Tuesday, July 1st. Robert W. Baird lifted their price target on shares of Trane Technologies from $396.00 to $450.00 and gave the company a “neutral” rating in a report on Thursday, July 17th. JPMorgan Chase & Co. boosted their price target on shares of Trane Technologies from $334.00 to $400.00 and gave the company a “neutral” rating in a research report on Friday, May 16th. Finally, UBS Group boosted their price target on shares of Trane Technologies from $470.00 to $500.00 and gave the company a “buy” rating in a research report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $441.40.

Insider Activity at Trane Technologies

In other news, insider Donald E. Simmons sold 3,571 shares of the business’s stock in a transaction on 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 transaction, the insider owned 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.38% of the company’s stock.

Trane Technologies Stock Up 2.6%

Trane Technologies stock opened at $459.54 on Thursday. The stock has a market cap of $102.49 billion, a PE ratio of 38.23, a price-to-earnings-growth ratio of 2.91 and a beta of 1.15. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.74 and a current ratio of 1.09. Trane Technologies plc has a one year low of $298.15 and a one year high of $461.26. The stock has a fifty day moving average of $431.49 and a 200 day moving average of $385.05.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $2.45 earnings per share (EPS) for the quarter, topping 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 13.47% and a return on equity of 36.10%. The firm’s revenue was up 11.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.94 earnings per share. As a group, sell-side analysts predict that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be issued a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 0.82%. The ex-dividend date of this dividend is Friday, September 5th. Trane Technologies’s dividend payout ratio (DPR) 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.