2,226 Shares in Trane Technologies plc (NYSE:TT) Purchased by Bryce Point Capital LLC

Bryce Point Capital LLC bought a new position in Trane Technologies plc (NYSE:TT) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,226 shares of the company’s stock, valued at approximately $745,000.

A number of other hedge funds also recently made changes to their positions in TT. WFA Asset Management Corp raised its position in Trane Technologies by 208.3% during the first quarter. WFA Asset Management Corp now owns 74 shares of the company’s stock valued at $25,000 after purchasing an additional 50 shares during the period. Minot DeBlois Advisors LLC purchased a new stake in Trane Technologies during the fourth quarter valued at approximately $26,000. Vermillion & White Wealth Management Group LLC purchased a new stake in Trane Technologies during the fourth quarter valued at approximately $28,000. Opal Wealth Advisors LLC purchased a new stake in Trane Technologies during the first quarter valued at approximately $31,000. Finally, Bogart Wealth LLC raised its position in Trane Technologies by 97.9% during the first quarter. Bogart Wealth LLC now owns 93 shares of the company’s stock valued at $31,000 after purchasing an additional 46 shares during the period. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Trane Technologies Stock Up 2.3%

Shares of NYSE:TT opened at $472.43 on Monday. Trane Technologies plc has a 52-week low of $298.15 and a 52-week high of $473.13. The stock has a market cap of $105.36 billion, a P/E ratio of 39.30, a price-to-earnings-growth ratio of 3.07 and a beta of 1.15. The business’s 50 day moving average is $433.17 and its 200 day moving average is $386.23. 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 (NYSE:TT) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $2.45 earnings per share (EPS) 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 company had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $4.46 billion. During the same quarter in the prior year, the firm earned $1.94 earnings per share. Trane Technologies’s revenue was up 11.2% compared to the same quarter last year. Sell-side analysts predict that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Dividend Announcement

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 $0.94 dividend. The ex-dividend date is Friday, September 5th. This represents a $3.76 annualized dividend and a yield of 0.80%. Trane Technologies’s dividend payout ratio (DPR) is currently 31.28%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on TT shares. Royal Bank Of Canada upped their price objective on Trane Technologies from $363.00 to $408.00 and gave the company a “sector perform” rating in a research report on Thursday, May 1st. JPMorgan Chase & Co. upped their price objective on Trane Technologies from $334.00 to $400.00 and gave the company a “neutral” rating in a research report on Friday, May 16th. UBS Group upped their price objective on Trane Technologies from $470.00 to $500.00 and gave the company a “buy” rating in a research report on Thursday, May 22nd. Robert W. Baird upped their price objective on Trane Technologies from $396.00 to $450.00 and gave the company a “neutral” rating in a research report on Thursday, July 17th. Finally, HSBC upgraded Trane Technologies from a “hold” rating to a “buy” rating and increased their price target for the stock from $405.00 to $415.00 in a report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Trane Technologies currently has an average rating of “Moderate Buy” and an average price target of $441.40.

Insider Transactions at Trane Technologies

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 transaction, the insider owned 3,593 shares of the company’s stock, valued at $1,365,340. This represents a 49.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.38% of the stock is currently owned by company insiders.

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.