Carr Financial Group Corp Increases Stock Position in Trane Technologies plc (NYSE:TT)

Carr Financial Group Corp increased its position in shares of Trane Technologies plc (NYSE:TT) by 27.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 706 shares of the company’s stock after buying an additional 152 shares during the period. Carr Financial Group Corp’s holdings in Trane Technologies were worth $238,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in TT. WFA Asset Management Corp boosted its stake in shares of Trane Technologies by 208.3% during the 1st quarter. WFA Asset Management Corp now owns 74 shares of the company’s stock valued at $25,000 after buying an additional 50 shares during the last quarter. Minot DeBlois Advisors LLC bought a new stake in shares of Trane Technologies in the fourth quarter worth $26,000. Vermillion & White Wealth Management Group LLC acquired a new stake in Trane Technologies in the fourth quarter valued at $28,000. Opal Wealth Advisors LLC bought a new position in Trane Technologies during the 1st quarter valued at $31,000. Finally, Flagship Wealth Advisors LLC bought a new position in Trane Technologies during the 4th quarter valued at $37,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Price Performance

Shares of TT opened at $419.63 on Friday. Trane Technologies plc has a 12 month low of $298.15 and a 12 month high of $436.61. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.09 and a quick ratio of 0.74. The stock has a fifty day moving average price of $399.67 and a 200 day moving average price of $377.18. The company has a market cap of $93.59 billion, a P/E ratio of 34.91, a PEG ratio of 2.76 and a beta of 1.16.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Wednesday, April 30th. The company reported $2.45 EPS for the quarter, topping the consensus estimate of $2.20 by $0.25. The business had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.46 billion. Trane Technologies had a net margin of 13.47% and a return on equity of 36.10%. The company’s quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.94 earnings per share. On average, research analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be paid a $0.94 dividend. The ex-dividend date is Friday, September 5th. This represents a $3.76 annualized dividend and a dividend yield of 0.90%. Trane Technologies’s payout ratio is currently 31.28%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Barclays dropped their target price on shares of Trane Technologies from $500.00 to $475.00 and set an “overweight” rating for the company in a research report on Monday, March 10th. Citigroup lifted their price target on Trane Technologies from $415.00 to $445.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. HSBC upgraded Trane Technologies from a “hold” rating to a “buy” rating and upped their price objective for the company from $405.00 to $415.00 in a research note on Friday, April 25th. JPMorgan Chase & Co. increased their target price on Trane Technologies from $334.00 to $400.00 and gave the stock a “neutral” rating in a report on Friday, May 16th. Finally, Wells Fargo & Company boosted their price target on Trane Technologies from $330.00 to $370.00 and gave the company an “underweight” rating in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, seven have given 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, the company currently has a consensus rating of “Moderate Buy” and an average price target of $427.47.

Insider Activity

In related 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 transaction, the insider now directly owns 3,593 shares of the company’s stock, valued at $1,365,340. This 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. Corporate insiders own 0.38% of the company’s stock.

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.