809 Shares in Trane Technologies plc (NYSE:TT) Acquired by Rockland Trust Co.

Rockland Trust Co. purchased a new position in shares of Trane Technologies plc (NYSE:TT) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 809 shares of the company’s stock, valued at approximately $273,000.

Other large investors also recently modified their holdings of the company. WFA Asset Management Corp increased its stake in Trane Technologies by 208.3% in the first quarter. WFA Asset Management Corp now owns 74 shares of the company’s stock valued at $25,000 after purchasing an additional 50 shares during the last quarter. Minot DeBlois Advisors LLC acquired a new position in shares of Trane Technologies in the 4th quarter valued at $26,000. Vermillion & White Wealth Management Group LLC purchased a new position in shares of Trane Technologies in the 4th quarter valued at $28,000. Flagship Wealth Advisors LLC acquired a new stake in Trane Technologies during the 4th quarter worth $37,000. Finally, NBC Securities Inc. purchased a new stake in Trane Technologies in the first quarter valued at $39,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of the stock in a transaction on 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 approximately $1,365,340. This represents a 49.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.38% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

TT has been the topic of a number of research analyst reports. Barclays cut their target price on Trane Technologies from $500.00 to $475.00 and set an “overweight” rating on the stock in a research report on Monday, March 10th. JPMorgan Chase & Co. lifted their price target on Trane Technologies from $334.00 to $400.00 and gave the stock a “neutral” rating in a research report on Friday, May 16th. UBS Group increased their price objective on Trane Technologies from $470.00 to $500.00 and gave the company a “buy” rating in a report on Thursday, May 22nd. HSBC raised shares of Trane Technologies from a “hold” rating to a “buy” rating and lifted their target price for the company from $405.00 to $415.00 in a report on Friday, April 25th. Finally, Robert W. Baird increased their price target on shares of Trane Technologies from $360.00 to $396.00 and gave the stock a “neutral” rating in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Trane Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $427.47.

Trane Technologies Stock Down 0.8%

Shares of NYSE:TT opened at $420.84 on Friday. Trane Technologies plc has a fifty-two week low of $298.15 and a fifty-two week high of $436.61. The firm’s 50-day simple moving average is $392.71 and its 200-day simple moving average is $377.01. The company has a market cap of $93.85 billion, a price-to-earnings ratio of 37.41, a PEG ratio of 2.50 and a beta of 1.16. 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 (NYSE:TT) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share for the quarter, topping analysts’ consensus estimates of $2.20 by $0.25. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. The business had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $4.46 billion. During the same period in the prior year, the company posted $1.94 EPS. The business’s revenue for the quarter was up 11.2% on a year-over-year basis. As a group, equities 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 announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders 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 (DPR) is 31.28%.

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.