Breakwater Capital Group Acquires 216 Shares of Trane Technologies plc (NYSE:TT)

Breakwater Capital Group boosted its holdings in Trane Technologies plc (NYSE:TT) by 1.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,617 shares of the company’s stock after buying an additional 216 shares during the period. Breakwater Capital Group’s holdings in Trane Technologies were worth $4,251,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Minot DeBlois Advisors LLC acquired a new stake in shares of Trane Technologies in the 4th quarter valued at approximately $26,000. Vermillion & White Wealth Management Group LLC acquired a new stake in Trane Technologies in the fourth quarter worth $28,000. Flagship Wealth Advisors LLC acquired a new stake in Trane Technologies in the fourth quarter worth $37,000. Golden State Wealth Management LLC bought a new position in shares of Trane Technologies during the fourth quarter worth $39,000. Finally, NBC Securities Inc. acquired a new position in shares of Trane Technologies in the 1st quarter valued at $39,000. 82.97% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Donald E. Simmons sold 3,571 shares of the 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 sale, the insider now owns 3,593 shares in the company, valued at approximately $1,365,340. This represents a 49.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.38% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts recently commented on TT shares. Stephens raised 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. Royal Bank of Canada raised their price target on Trane Technologies from $363.00 to $408.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 1st. HSBC upgraded Trane Technologies from a “hold” rating to a “buy” rating and lifted their price objective for the company from $405.00 to $415.00 in a report on Friday, April 25th. Hsbc Global Res raised Trane Technologies from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 25th. Finally, UBS Group lifted their price target on shares of Trane Technologies from $470.00 to $500.00 and gave the company a “buy” rating in a research note on Thursday, May 22nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $427.47.

Trane Technologies Stock Performance

Shares of TT stock opened at $432.93 on Thursday. Trane Technologies plc has a 12 month low of $298.15 and a 12 month high of $436.61. The company’s fifty day simple moving average is $379.31 and its 200-day simple moving average is $376.47. The firm has a market cap of $96.55 billion, a PE ratio of 38.48, 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 released its earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.20 by $0.25. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. The business had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.46 billion. During the same quarter in the previous year, the business earned $1.94 earnings per share. Trane Technologies’s quarterly revenue was up 11.2% on a year-over-year basis. Equities research analysts expect that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 0.87%. Trane Technologies’s dividend payout ratio is presently 31.28%.

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.