Trane Technologies plc (NYSE:TT) Shares Acquired by Simon Quick Advisors LLC

Simon Quick Advisors LLC grew its stake in Trane Technologies plc (NYSE:TT) by 22.2% during the first quarter, HoldingsChannel.com reports. The firm owned 1,199 shares of the company’s stock after purchasing an additional 218 shares during the period. Simon Quick Advisors LLC’s holdings in Trane Technologies were worth $404,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. WFA Asset Management Corp raised its stake in Trane Technologies by 208.3% during the first quarter. WFA Asset Management Corp now owns 74 shares of the company’s stock worth $25,000 after acquiring an additional 50 shares during the period. Minot DeBlois Advisors LLC bought a new position in Trane Technologies in the 4th quarter worth about $26,000. Vermillion & White Wealth Management Group LLC bought a new position in Trane Technologies in the 4th quarter worth about $28,000. Flagship Wealth Advisors LLC bought a new position in Trane Technologies in the 4th quarter worth about $37,000. Finally, NBC Securities Inc. bought a new position in Trane Technologies in the 1st quarter worth about $39,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Activity at Trane Technologies

In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $1,365,340. The trade was a 49.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.38% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have commented on TT. Citigroup upped their target price on shares of Trane Technologies from $415.00 to $445.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Hsbc Global Res upgraded shares of Trane Technologies from a “hold” rating to a “strong-buy” rating in a report on Friday, April 25th. HSBC upgraded shares of Trane Technologies from a “hold” rating to a “buy” rating and increased their price objective for the company from $405.00 to $415.00 in a report on Friday, April 25th. Royal Bank of Canada increased their price objective on shares of Trane Technologies from $363.00 to $408.00 and gave the company a “sector perform” rating in a report on Thursday, May 1st. Finally, Barclays reduced their target price on shares of Trane Technologies from $500.00 to $475.00 and set an “overweight” rating for the company in a report on Monday, March 10th. One analyst has rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $427.47.

Trane Technologies Price Performance

NYSE:TT opened at $420.84 on Friday. The company has a 50-day moving average of $392.71 and a 200-day moving average of $377.01. The company has a market capitalization of $93.85 billion, a price-to-earnings ratio of 37.41, a PEG ratio of 2.50 and a beta of 1.16. Trane Technologies plc has a 52 week low of $298.15 and a 52 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 announced its quarterly earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $4.46 billion. During the same period last year, the firm posted $1.94 EPS. The firm’s quarterly revenue was up 11.2% on a year-over-year basis. As a group, equities research analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be issued a dividend of $0.94 per share. 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 currently 31.28%.

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.