American Institute for Advanced Investment Management LLP Makes New Investment in Trane Technologies plc (NYSE:TT)

American Institute for Advanced Investment Management LLP acquired a new position in Trane Technologies plc (NYSE:TT) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 665 shares of the company’s stock, valued at approximately $224,000.

Several other hedge funds and other institutional investors have also bought and sold shares of TT. Brighton Jones LLC raised its stake in shares of Trane Technologies by 60.0% in the fourth quarter. Brighton Jones LLC now owns 6,194 shares of the company’s stock valued at $2,288,000 after buying an additional 2,323 shares during the period. Van ECK Associates Corp raised its stake in shares of Trane Technologies by 4.9% in the fourth quarter. Van ECK Associates Corp now owns 52,058 shares of the company’s stock valued at $19,228,000 after buying an additional 2,438 shares during the period. Asset Management One Co. Ltd. raised its stake in shares of Trane Technologies by 5.4% in the fourth quarter. Asset Management One Co. Ltd. now owns 94,699 shares of the company’s stock valued at $35,373,000 after buying an additional 4,829 shares during the period. AustralianSuper Pty Ltd raised its stake in shares of Trane Technologies by 470.9% in the fourth quarter. AustralianSuper Pty Ltd now owns 179,794 shares of the company’s stock valued at $66,407,000 after buying an additional 148,302 shares during the period. Finally, Valeo Financial Advisors LLC raised its stake in shares of Trane Technologies by 2.9% in the fourth quarter. Valeo Financial Advisors LLC now owns 2,017 shares of the company’s stock valued at $745,000 after buying an additional 57 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insiders Place Their Bets

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 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 in the company, valued at approximately $1,365,340. This trade represents a 49.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.38% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on TT. UBS Group boosted their price objective on Trane Technologies from $470.00 to $500.00 and gave the company a “buy” rating in a research note on Thursday, May 22nd. JPMorgan Chase & Co. boosted their price objective on Trane Technologies from $334.00 to $400.00 and gave the company a “neutral” rating in a research note on Friday, May 16th. Barclays decreased their price objective on Trane Technologies from $500.00 to $475.00 and set an “overweight” rating on the stock in a research note on Monday, March 10th. Stephens upgraded Trane Technologies from an “equal weight” rating to an “overweight” rating and set a $475.00 price objective on the stock in a research note on Thursday, May 1st. Finally, Wells Fargo & Company boosted their price objective on Trane Technologies from $330.00 to $370.00 and gave the company an “underweight” rating in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $427.47.

Trane Technologies Price Performance

TT opened at $420.84 on Friday. The stock has a 50-day moving average price of $392.71 and a 200-day moving average price of $376.73. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $436.61. 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 capitalization of $93.85 billion, a P/E ratio of 37.41, a PEG ratio of 2.50 and a beta of 1.16.

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

Trane Technologies Dividend Announcement

The firm also recently disclosed 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 is Friday, September 5th. Trane Technologies’s dividend payout ratio (DPR) is currently 31.28%.

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.