Trane Technologies plc (NYSE:TT) Shares Purchased by Simon Quick Advisors LLC

Simon Quick Advisors LLC increased its stake in shares of Trane Technologies plc (NYSE:TT) by 22.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,199 shares of the company’s stock after buying an additional 218 shares during the quarter. Simon Quick Advisors LLC’s holdings in Trane Technologies were worth $404,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in TT. Van ECK Associates Corp raised its position in Trane Technologies by 4.9% in the fourth quarter. Van ECK Associates Corp now owns 52,058 shares of the company’s stock valued at $19,228,000 after purchasing an additional 2,438 shares during the period. Ethic Inc. raised its position in Trane Technologies by 150.1% in the fourth quarter. Ethic Inc. now owns 24,883 shares of the company’s stock valued at $9,190,000 after purchasing an additional 14,932 shares during the period. AustralianSuper Pty Ltd raised its position in Trane Technologies by 470.9% in the fourth quarter. AustralianSuper Pty Ltd now owns 179,794 shares of the company’s stock valued at $66,407,000 after purchasing an additional 148,302 shares during the period. Proficio Capital Partners LLC raised 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 valued at $253,000 after purchasing an additional 151 shares during the period. Finally, Compass Capital Corp MA ADV purchased a new stake in Trane Technologies in the fourth quarter valued at $301,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Price Performance

TT stock opened at $420.84 on Friday. The stock has a market capitalization of $93.85 billion, a price-to-earnings ratio of 37.41, a price-to-earnings-growth ratio of 2.50 and a beta of 1.16. The stock’s fifty day simple moving average is $392.71 and its 200-day simple moving average is $377.01. Trane Technologies plc has a 52-week low of $298.15 and a 52-week high of $436.61. 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 quarterly earnings results on Wednesday, April 30th. The company reported $2.45 EPS 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 net margin of 12.94% and a return on equity of 35.37%. Trane Technologies’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 business posted $1.94 earnings per share. Equities research analysts expect that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be given a dividend of $0.94 per share. The ex-dividend date of this dividend 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 31.28%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on TT shares. Barclays cut their price objective on Trane Technologies from $500.00 to $475.00 and set an “overweight” rating on the stock in a report on Monday, March 10th. Wells Fargo & Company boosted their price objective on Trane Technologies from $330.00 to $370.00 and gave the company an “underweight” rating in a report on Thursday, May 1st. Stephens raised Trane Technologies from an “equal weight” rating to an “overweight” rating and set a $475.00 target price for the company in a research note on Thursday, May 1st. JPMorgan Chase & Co. boosted their target price 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, Royal Bank of Canada boosted their target price on Trane Technologies from $363.00 to $408.00 and gave the stock a “sector perform” 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 given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $427.47.

Insider Buying and Selling

In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of the company’s 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 $1,365,340. This represents a 49.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.38% of the stock is owned by corporate insiders.

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.