Daymark Wealth Partners LLC Buys 376 Shares of Trane Technologies plc (NYSE:TT)

Daymark Wealth Partners LLC grew its stake in shares of Trane Technologies plc (NYSE:TT) by 13.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,096 shares of the company’s stock after buying an additional 376 shares during the quarter. Daymark Wealth Partners LLC’s holdings in Trane Technologies were worth $1,043,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Minot DeBlois Advisors LLC bought a new stake in shares of Trane Technologies in the fourth quarter worth about $26,000. Vermillion & White Wealth Management Group LLC bought a new stake in shares of Trane Technologies during the fourth quarter valued at approximately $28,000. Flagship Wealth Advisors LLC bought a new stake in shares of Trane Technologies during the 4th quarter valued at $37,000. Golden State Wealth Management LLC bought a new stake in Trane Technologies during the fourth quarter worth about $39,000. Finally, NBC Securities Inc. bought a new stake in Trane Technologies in the first quarter worth $39,000. Institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TT. UBS Group upped their target price on shares of Trane Technologies from $470.00 to $500.00 and gave the stock a “buy” rating in a research note on Thursday, May 22nd. Barclays lowered their price objective on shares of Trane Technologies from $500.00 to $475.00 and set an “overweight” rating on the stock in a research note on Monday, March 10th. Wells Fargo & Company raised their target price on Trane Technologies from $330.00 to $370.00 and gave the stock an “underweight” rating in a report on Thursday, May 1st. HSBC upgraded shares of Trane Technologies from a “hold” rating to a “buy” rating and raised their price objective for the company from $405.00 to $415.00 in a research report on Friday, April 25th. Finally, Royal Bank of Canada lifted their target price on Trane Technologies from $363.00 to $408.00 and gave the stock a “sector perform” rating in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Trane Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $427.47.

Trane Technologies Trading Down 0.3%

NYSE TT opened at $427.67 on Tuesday. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. The stock has a market cap of $95.38 billion, a PE ratio of 38.02, a PEG ratio of 2.50 and a beta of 1.16. The company’s 50-day moving average price is $384.52 and its 200-day moving average price is $376.28. Trane Technologies plc has a 12 month low of $298.15 and a 12 month high of $436.61.

Trane Technologies (NYSE:TT) last posted its quarterly 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 for the quarter, compared to the consensus estimate of $4.46 billion. During the same quarter in the prior year, the company earned $1.94 EPS. The business’s revenue was up 11.2% compared to the same quarter last year. Equities research analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Announces Dividend

The business also recently announced 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 annualized dividend and a yield of 0.88%. Trane Technologies’s dividend payout ratio (DPR) is presently 31.28%.

Insider Activity

In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of the firm’s 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 owns 3,593 shares of the company’s stock, valued at approximately $1,365,340. This trade 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 can be accessed through the SEC website. Company insiders own 0.38% of the company’s stock.

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.