ProShare Advisors LLC Raises Stock Holdings in Trane Technologies plc (NYSE:TT)

ProShare Advisors LLC boosted its holdings in Trane Technologies plc (NYSE:TT) by 10.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 37,595 shares of the company’s stock after buying an additional 3,572 shares during the quarter. ProShare Advisors LLC’s holdings in Trane Technologies were worth $13,886,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Ameritas Advisory Services LLC purchased a new stake in shares of Trane Technologies during the 4th quarter valued at about $468,000. HB Wealth Management LLC increased its position in shares of Trane Technologies by 14.3% during the 4th quarter. HB Wealth Management LLC now owns 5,689 shares of the company’s stock valued at $2,101,000 after purchasing an additional 711 shares during the last quarter. Crossmark Global Holdings Inc. increased its position in shares of Trane Technologies by 31.2% during the 4th quarter. Crossmark Global Holdings Inc. now owns 29,057 shares of the company’s stock valued at $10,733,000 after purchasing an additional 6,910 shares during the last quarter. Stonegate Investment Group LLC increased its position in shares of Trane Technologies by 11.9% during the 4th quarter. Stonegate Investment Group LLC now owns 15,378 shares of the company’s stock valued at $5,680,000 after purchasing an additional 1,633 shares during the last quarter. Finally, U.S. Capital Wealth Advisors LLC increased its position in shares of Trane Technologies by 1,490.3% during the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 19,417 shares of the company’s stock valued at $7,172,000 after purchasing an additional 18,196 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

TT has been the subject of several analyst reports. UBS Group reduced their target price on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a report on Friday, January 31st. Citigroup increased their target price on shares of Trane Technologies from $415.00 to $445.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. Wells Fargo & Company increased their target price on shares of Trane Technologies from $330.00 to $370.00 and gave the stock an “underweight” rating in a report on Thursday, May 1st. Melius Research reissued a “hold” rating and issued a $398.00 target price on shares of Trane Technologies in a report on Tuesday, January 28th. Finally, Melius lowered shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 target price for the company. in a report on Tuesday, January 28th. One research 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 company. Based on data from MarketBeat.com, Trane Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $425.47.

Insider Buying and Selling

In related news, insider Donald E. Simmons sold 3,571 shares of the firm’s stock in a transaction 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 directly owns 3,593 shares in the company, valued at $1,365,340. This trade represents a 49.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.38% of the stock is owned by corporate insiders.

Trane Technologies Stock Up 1.6%

NYSE TT opened at $429.20 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21. The company has a market capitalization of $95.72 billion, a P/E ratio of 38.15, a P/E/G ratio of 2.50 and a beta of 1.14. Trane Technologies plc has a one year low of $298.15 and a one year high of $429.40. The stock has a 50 day moving average price of $358.06 and a 200-day moving average price of $373.44.

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

Trane Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be paid a $0.94 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.88%. Trane Technologies’s payout ratio 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.