HBK Sorce Advisory LLC Purchases 64 Shares of Trane Technologies plc (NYSE:TT)

HBK Sorce Advisory LLC lifted its holdings in Trane Technologies plc (NYSE:TT) by 2.9% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,300 shares of the company’s stock after buying an additional 64 shares during the period. HBK Sorce Advisory LLC’s holdings in Trane Technologies were worth $775,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

TT has been the topic of a number of research analyst reports. Hsbc Global Res upgraded shares of Trane Technologies from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 25th. Royal Bank Of Canada lifted their price target on shares of Trane Technologies from $363.00 to $408.00 and gave the stock a “sector perform” rating in a report on Thursday, May 1st. 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. Robert W. Baird raised their target price on Trane Technologies from $360.00 to $396.00 and gave the stock a “neutral” rating in a research report on Thursday, May 1st. Finally, UBS Group upped their price target on Trane Technologies from $470.00 to $500.00 and gave the company a “buy” rating in a research report on Thursday, May 22nd. One 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $427.47.

Trane Technologies Price Performance

Trane Technologies stock opened at $427.99 on Thursday. The firm has a market capitalization of $95.45 billion, a P/E ratio of 35.61, a PEG ratio of 2.82 and a beta of 1.16. Trane Technologies plc has a one year low of $298.15 and a one year 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 business has a fifty day moving average price of $406.39 and a 200-day moving average price of $377.50.

Trane Technologies (NYSE:TT) last issued its 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 the consensus estimate of $4.46 billion. Trane Technologies had a return on equity of 36.10% and a net margin of 13.47%. The firm’s revenue was up 11.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.94 EPS. As a group, equities research analysts forecast that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be paid a dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $3.76 annualized dividend and a yield of 0.88%. Trane Technologies’s dividend payout ratio is currently 31.28%.

Insider Buying and Selling

In other news, insider Donald E. Simmons sold 3,571 shares of the business’s stock in a transaction 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 transaction, the insider now directly owns 3,593 shares in the company, valued at $1,365,340. The trade was a 49.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.38% of the stock is currently owned by insiders.

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.