Magnolia Capital Management Ltd. Has $448,000 Position in Trane Technologies plc (NYSE:TT)

Magnolia Capital Management Ltd. reduced its stake in Trane Technologies plc (NYSE:TT) by 33.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,330 shares of the company’s stock after selling 670 shares during the quarter. Magnolia Capital Management Ltd.’s holdings in Trane Technologies were worth $448,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. First Citizens Financial Corp increased its position in Trane Technologies by 6.6% in the 1st quarter. First Citizens Financial Corp now owns 699 shares of the company’s stock worth $236,000 after buying an additional 43 shares during the period. Global Wealth Strategies & Associates increased its position in Trane Technologies by 470.0% in the 1st quarter. Global Wealth Strategies & Associates now owns 399 shares of the company’s stock worth $134,000 after buying an additional 329 shares during the period. MassMutual Private Wealth & Trust FSB increased its position in Trane Technologies by 28.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 951 shares of the company’s stock worth $320,000 after buying an additional 213 shares during the period. DSG Capital Advisors LLC bought a new position in Trane Technologies in the 4th quarter worth approximately $6,525,000. Finally, 111 Capital bought a new position in Trane Technologies in the 4th quarter worth approximately $1,724,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Trane Technologies Trading Down 0.8%

Shares of TT opened at $432.61 on Thursday. 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 plc has a 12-month low of $298.15 and a 12-month high of $441.04. The firm has a market capitalization of $96.48 billion, a PE ratio of 38.45, a price-to-earnings-growth ratio of 2.50 and a beta of 1.14. The stock’s fifty day simple moving average is $371.20 and its 200-day simple moving average is $375.78.

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

Trane Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be issued a $0.94 dividend. The ex-dividend date is Friday, June 6th. This represents a $3.76 dividend on an annualized basis and a yield of 0.87%. Trane Technologies’s dividend payout ratio is presently 31.28%.

Analysts Set New Price Targets

TT has been the topic of a number of research reports. UBS Group boosted their price objective on Trane Technologies from $470.00 to $500.00 and gave the company a “buy” rating in a research report on Thursday, May 22nd. Wells Fargo & Company lifted their target price on shares of Trane Technologies from $330.00 to $370.00 and gave the company an “underweight” rating in a research report on Thursday, May 1st. Royal Bank of Canada raised their price target 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. Barclays lowered their price objective on Trane Technologies from $500.00 to $475.00 and set an “overweight” rating on the stock in a research note on Monday, March 10th. Finally, JPMorgan Chase & Co. raised their target price on Trane Technologies from $334.00 to $400.00 and gave the stock a “neutral” rating in a research report on Friday, May 16th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Trane Technologies currently has an average rating of “Moderate Buy” and an average price target of $427.47.

Insider Activity 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 stock was sold at an average price of $380.00, for a total value of $1,356,980.00. Following the completion of the sale, the insider now directly owns 3,593 shares in the company, valued at $1,365,340. This represents a 49.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.38% of the stock is currently owned by corporate insiders.

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.