Millburn Ridgefield LLC DE Takes Position in Trane Technologies plc (NYSE:TT)

Millburn Ridgefield LLC DE acquired a new position in Trane Technologies plc (NYSE:TT) during the first quarter, HoldingsChannel.com reports. The fund acquired 642 shares of the company’s stock, valued at approximately $216,000.

Several other large investors have also recently modified their holdings of TT. WFA Asset Management Corp grew its holdings in Trane Technologies by 208.3% in the first quarter. WFA Asset Management Corp now owns 74 shares of the company’s stock worth $25,000 after purchasing an additional 50 shares during the last quarter. Minot DeBlois Advisors LLC acquired a new stake in shares of Trane Technologies in the 4th quarter worth $26,000. Vermillion & White Wealth Management Group LLC purchased a new position in Trane Technologies during the 4th quarter worth $28,000. Flagship Wealth Advisors LLC acquired a new position in Trane Technologies during the 4th quarter valued at about $37,000. Finally, Golden State Wealth Management LLC purchased a new stake in Trane Technologies in the fourth quarter valued at about $39,000. Institutional investors own 82.97% of the company’s stock.

Insider Activity

In related 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 completion of the transaction, the insider now directly owns 3,593 shares in the company, valued at $1,365,340. The trade was a 49.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, 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 $422.01 on Wednesday. The business’s 50-day moving average is $386.33 and its two-hundred day moving average is $376.60. The company has a market capitalization of $94.12 billion, a P/E ratio of 37.51, a P/E/G ratio of 2.50 and a beta of 1.16. Trane Technologies plc has a fifty-two week low of $298.15 and a fifty-two week high of $436.61. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21.

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

Trane Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be paid 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 dividend yield of 0.89%. Trane Technologies’s payout ratio is 31.28%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on TT. 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 research note on Thursday, May 1st. Royal Bank of Canada lifted their target price 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. HSBC upgraded shares of Trane Technologies from a “hold” rating to a “buy” rating and upped their price target for the company from $405.00 to $415.00 in a research note on Friday, April 25th. Citigroup lifted their price objective on shares of Trane Technologies from $415.00 to $445.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. Finally, UBS Group boosted their price objective on shares of Trane Technologies from $470.00 to $500.00 and gave the company a “buy” rating in a report on Thursday, May 22nd. 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $427.47.

Trane Technologies 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.