SG Americas Securities LLC Acquires 8,698 Shares of Trane Technologies plc (NYSE:TT)

SG Americas Securities LLC lifted its position in Trane Technologies plc (NYSE:TT) by 11.4% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 84,887 shares of the company’s stock after purchasing an additional 8,698 shares during the period. SG Americas Securities LLC’s holdings in Trane Technologies were worth $28,600,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Central Valley Advisors LLC grew its holdings in shares of Trane Technologies by 8.6% in the first quarter. Central Valley Advisors LLC now owns 7,517 shares of the company’s stock worth $2,532,000 after purchasing an additional 595 shares during the last quarter. Avanza Fonder AB bought a new stake in Trane Technologies in the first quarter valued at $6,839,000. GAMMA Investing LLC boosted its holdings in Trane Technologies by 5.5% in the first quarter. GAMMA Investing LLC now owns 5,983 shares of the company’s stock valued at $2,016,000 after acquiring an additional 314 shares in the last quarter. Wealthcare Advisory Partners LLC boosted its holdings in Trane Technologies by 4.6% in the first quarter. Wealthcare Advisory Partners LLC now owns 4,758 shares of the company’s stock valued at $1,603,000 after acquiring an additional 209 shares in the last quarter. Finally, Harbor Capital Advisors Inc. bought a new stake in Trane Technologies in the first quarter valued at $1,135,000. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Price Performance

Shares of NYSE:TT opened at $422.01 on Wednesday. The firm’s 50 day moving average price is $386.33 and its 200-day moving average price is $376.60. Trane Technologies plc has a twelve month low of $298.15 and a twelve month 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. The stock has a market capitalization of $94.12 billion, a PE ratio of 37.51, a price-to-earnings-growth ratio of 2.50 and a beta of 1.16.

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

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be issued a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend is Friday, September 5th. Trane Technologies’s dividend payout ratio is 31.28%.

Insider Buying and Selling

In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of the stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $380.00, for a total transaction of $1,356,980.00. Following the completion of the sale, the insider now directly owns 3,593 shares of the company’s stock, valued at $1,365,340. This trade represents a 49.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.38% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Stephens raised Trane Technologies from an “equal weight” rating to an “overweight” rating and set a $475.00 price objective for the company in a research report on Thursday, May 1st. Royal Bank of Canada raised their price objective on Trane Technologies from $363.00 to $408.00 and gave the company a “sector perform” rating in a research report on Thursday, May 1st. JPMorgan Chase & Co. raised their price objective on Trane Technologies from $334.00 to $400.00 and gave the company a “neutral” rating in a research report on Friday, May 16th. UBS Group raised 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. Finally, Hsbc Global Res raised Trane Technologies from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $427.47.

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.