Impact Capital Partners LLC Has $956,000 Stock Position in Trane Technologies plc (NYSE:TT)

Impact Capital Partners LLC reduced its stake in Trane Technologies plc (NYSE:TT) by 8.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,838 shares of the company’s stock after selling 270 shares during the quarter. Impact Capital Partners LLC’s holdings in Trane Technologies were worth $956,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Consolidated Planning Corp increased its holdings in Trane Technologies by 8.3% in the fourth quarter. Consolidated Planning Corp now owns 14,252 shares of the company’s stock worth $5,264,000 after purchasing an additional 1,091 shares in the last quarter. Van ECK Associates Corp increased its holdings in Trane Technologies by 4.9% in the fourth quarter. Van ECK Associates Corp now owns 52,058 shares of the company’s stock worth $19,228,000 after purchasing an additional 2,438 shares in the last quarter. Ethic Inc. increased its holdings in Trane Technologies by 150.1% in the fourth quarter. Ethic Inc. now owns 24,883 shares of the company’s stock worth $9,190,000 after purchasing an additional 14,932 shares in the last quarter. AustralianSuper Pty Ltd increased its holdings in Trane Technologies by 470.9% in the fourth quarter. AustralianSuper Pty Ltd now owns 179,794 shares of the company’s stock worth $66,407,000 after purchasing an additional 148,302 shares in the last quarter. Finally, Proficio Capital Partners LLC increased its holdings in Trane Technologies by 28.3% in the fourth quarter. Proficio Capital Partners LLC now owns 685 shares of the company’s stock worth $253,000 after purchasing an additional 151 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TT has been the subject of a number of research analyst reports. Royal Bank of Canada lifted their target price on Trane Technologies from $363.00 to $408.00 and gave the stock a “sector perform” rating in a report on Thursday, May 1st. Barclays lowered their target price on Trane Technologies from $500.00 to $475.00 and set an “overweight” rating for the company in a report on Monday, March 10th. UBS Group boosted their price objective on Trane Technologies from $470.00 to $500.00 and gave the company a “buy” rating in a report on Thursday, May 22nd. Hsbc Global Res raised Trane Technologies from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 25th. Finally, Stephens raised Trane Technologies from an “equal weight” rating to an “overweight” rating and set a $475.00 target price on the stock in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Trane Technologies has a consensus rating of “Moderate Buy” and an average target price of $427.47.

Trane Technologies Trading Down 0.4%

NYSE TT opened at $428.93 on Friday. The firm has a market capitalization of $95.66 billion, a P/E ratio of 38.13, a PEG ratio of 2.50 and a beta of 1.14. The business has a fifty day simple moving average of $382.93 and a 200 day simple moving average of $376.72. Trane Technologies plc has a 12 month low of $298.15 and a 12 month high of $436.61. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Wednesday, April 30th. The company reported $2.45 EPS for the quarter, beating analysts’ consensus estimates of $2.20 by $0.25. The business had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.46 billion. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. Trane Technologies’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.94 EPS. On average, analysts predict that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date is Friday, September 5th. Trane Technologies’s payout ratio is currently 31.28%.

Insider Activity at Trane Technologies

In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of the company’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 transaction, the insider now owns 3,593 shares in the company, 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 through the SEC website. 0.38% of the stock is currently owned by insiders.

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.