Silvercrest Asset Management Group LLC Acquires 1,990 Shares of Trane Technologies plc (NYSE:TT)

Silvercrest Asset Management Group LLC increased its stake in Trane Technologies plc (NYSE:TT) by 168.6% in the 4th quarter, HoldingsChannel reports. The fund owned 3,170 shares of the company’s stock after acquiring an additional 1,990 shares during the period. Silvercrest Asset Management Group LLC’s holdings in Trane Technologies were worth $1,171,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Minot DeBlois Advisors LLC purchased a new stake in Trane Technologies in the 4th quarter worth about $26,000. Sound Income Strategies LLC grew its stake in shares of Trane Technologies by 1,314.3% during the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock valued at $37,000 after buying an additional 92 shares during the last quarter. Flagship Wealth Advisors LLC bought a new position in shares of Trane Technologies during the fourth quarter valued at approximately $37,000. Golden State Wealth Management LLC purchased a new stake in shares of Trane Technologies in the fourth quarter worth approximately $39,000. Finally, BankPlus Trust Department bought a new stake in shares of Trane Technologies during the 4th quarter worth approximately $45,000. 82.97% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Barclays reduced their target price on Trane Technologies from $500.00 to $475.00 and set an “overweight” rating on the stock in a research note on Monday, March 10th. Hsbc Global Res raised shares of Trane Technologies from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 25th. Wells Fargo & Company boosted their price objective on shares of Trane Technologies from $330.00 to $370.00 and gave the company an “underweight” rating in a research report on Thursday, May 1st. Melius lowered shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 target price on the stock. in a research report on Tuesday, January 28th. Finally, Robert W. Baird boosted their price target on Trane Technologies from $360.00 to $396.00 and gave the company a “neutral” rating in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $425.47.

Trane Technologies Stock Down 0.2%

Trane Technologies stock opened at $429.78 on Wednesday. Trane Technologies plc has a twelve month low of $298.15 and a twelve month high of $431.69. The business has a fifty day moving average of $361.71 and a two-hundred day moving average of $374.22. The firm has a market cap of $95.85 billion, a P/E ratio of 38.20, a P/E/G ratio of 2.50 and a beta of 1.14. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $2.45 earnings per share for the quarter, beating analysts’ consensus estimates of $2.20 by $0.25. The company had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.46 billion. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. The firm’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.94 earnings per share. On average, analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be given a dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.76 dividend on an annualized basis and a yield of 0.87%. Trane Technologies’s payout ratio is 31.28%.

Insiders Place Their Bets

In other news, insider Donald E. Simmons sold 3,571 shares of the business’s stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $380.00, for a total transaction of $1,356,980.00. Following the sale, the insider now owns 3,593 shares in the company, valued at approximately $1,365,340. The trade was a 49.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.