Legacy Advisors LLC Has $220,000 Position in Trane Technologies plc (NYSE:TT)

Legacy Advisors LLC increased its holdings in shares of Trane Technologies plc (NYSE:TT) by 6.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 653 shares of the company’s stock after acquiring an additional 38 shares during the quarter. Legacy Advisors LLC’s holdings in Trane Technologies were worth $220,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Trane Technologies by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 19,235,570 shares of the company’s stock valued at $7,104,658,000 after purchasing an additional 152,353 shares during the period. Geode Capital Management LLC boosted its stake in Trane Technologies by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 4,775,263 shares of the company’s stock valued at $1,760,549,000 after purchasing an additional 136,349 shares during the period. Ameriprise Financial Inc. boosted its stake in Trane Technologies by 4.1% in the 4th quarter. Ameriprise Financial Inc. now owns 3,343,390 shares of the company’s stock valued at $1,234,908,000 after purchasing an additional 130,867 shares during the period. Norges Bank bought a new stake in Trane Technologies in the 4th quarter valued at $1,117,816,000. Finally, Northern Trust Corp boosted its stake in Trane Technologies by 20.1% in the 4th quarter. Northern Trust Corp now owns 2,567,527 shares of the company’s stock valued at $948,316,000 after purchasing an additional 429,953 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of the company’s stock in a transaction dated 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 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 document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.38% of the company’s stock.

Trane Technologies Price Performance

Shares of TT stock opened at $427.99 on Thursday. The company has a quick ratio of 0.74, a current ratio of 1.09 and a debt-to-equity ratio of 0.52. Trane Technologies plc has a twelve month low of $298.15 and a twelve month high of $436.61. The company has a market cap of $95.45 billion, a P/E ratio of 35.61, a P/E/G ratio of 2.82 and a beta of 1.16. The business has a fifty day simple moving average of $406.39 and a 200 day simple moving average of $377.50.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $2.45 earnings per share for the quarter, topping the consensus estimate of $2.20 by $0.25. Trane Technologies had a return on equity of 36.10% and a net margin of 13.47%. The business had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.46 billion. During the same period in the prior year, the company earned $1.94 EPS. Trane Technologies’s revenue for the quarter was up 11.2% on a year-over-year basis. On average, sell-side analysts forecast that Trane Technologies plc will post 12.83 EPS for the current fiscal 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. The ex-dividend date of this dividend is Friday, September 5th. This represents a $3.76 dividend on an annualized basis and a yield of 0.88%. Trane Technologies’s payout ratio is presently 31.28%.

Wall Street Analysts Forecast Growth

TT has been the subject of a number of recent analyst reports. Citigroup upped their target price on Trane Technologies from $415.00 to $445.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. Barclays cut their target price on Trane Technologies from $500.00 to $475.00 and set an “overweight” rating for the company in a research report on Monday, March 10th. Robert W. Baird upped their target price on Trane Technologies from $360.00 to $396.00 and gave the company a “neutral” rating in a research report on Thursday, May 1st. Hsbc Global Res upgraded Trane Technologies from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 25th. Finally, JPMorgan Chase & Co. upped their target price on Trane Technologies from $334.00 to $400.00 and gave the company a “neutral” rating in a research report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Trane Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $427.47.

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.