Harbor Investment Advisory LLC Purchases 271 Shares of Trane Technologies plc (NYSE:TT)

Harbor Investment Advisory LLC boosted its position in Trane Technologies plc (NYSE:TT) by 874.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 302 shares of the company’s stock after purchasing an additional 271 shares during the quarter. Harbor Investment Advisory LLC’s holdings in Trane Technologies were worth $102,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. NBC Securities Inc. acquired a new position in Trane Technologies in the 1st quarter valued at $39,000. Fiduciary Alliance LLC raised its holdings in Trane Technologies by 5.2% in the 1st quarter. Fiduciary Alliance LLC now owns 2,388 shares of the company’s stock valued at $805,000 after acquiring an additional 118 shares in the last quarter. Baker Tilly Wealth Management LLC raised its holdings in Trane Technologies by 41.9% in the 1st quarter. Baker Tilly Wealth Management LLC now owns 958 shares of the company’s stock valued at $323,000 after acquiring an additional 283 shares in the last quarter. Czech National Bank raised its holdings in Trane Technologies by 5.6% in the 1st quarter. Czech National Bank now owns 51,516 shares of the company’s stock valued at $17,357,000 after acquiring an additional 2,726 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in Trane Technologies by 1.0% in the 1st quarter. Rhumbline Advisers now owns 441,010 shares of the company’s stock valued at $148,585,000 after acquiring an additional 4,458 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Donald E. Simmons sold 3,571 shares of the company’s stock in a transaction dated 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 owns 3,593 shares in the company, valued at $1,365,340. This represents a 49.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.38% of the company’s stock.

Trane Technologies Price Performance

Shares of TT opened at $433.41 on Wednesday. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $436.61. The business has a 50-day simple moving average of $377.29 and a two-hundred day simple moving average of $376.08. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. The stock has a market cap of $96.66 billion, a PE ratio of 38.53, a PEG ratio of 2.50 and a beta of 1.14.

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, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $4.46 billion. During the same quarter in the prior year, the firm earned $1.94 EPS. The business’s revenue for the quarter was up 11.2% compared to the same quarter last year. Analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

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

Analysts Set New Price Targets

TT has been the subject of several analyst reports. Royal Bank of Canada lifted their price objective on Trane Technologies from $363.00 to $408.00 and gave the company a “sector perform” rating in a report on Thursday, May 1st. Citigroup boosted their price target on Trane Technologies from $415.00 to $445.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. HSBC raised Trane Technologies from a “hold” rating to a “buy” rating and boosted their price target for the stock from $405.00 to $415.00 in a report on Friday, April 25th. Barclays lowered their price target on Trane Technologies from $500.00 to $475.00 and set an “overweight” rating for the company in a report on Monday, March 10th. Finally, Robert W. Baird boosted their price target on Trane Technologies from $360.00 to $396.00 and gave the stock a “neutral” rating in a report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Trane Technologies presently has a consensus rating of “Moderate Buy” and an average target price 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.