QRG Capital Management Inc. Boosts Stock Position in Trane Technologies plc (NYSE:TT)

QRG Capital Management Inc. grew its holdings in shares of Trane Technologies plc (NYSE:TT) by 1.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 45,884 shares of the company’s stock after purchasing an additional 557 shares during the quarter. QRG Capital Management Inc.’s holdings in Trane Technologies were worth $15,459,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in TT. Minot DeBlois Advisors LLC purchased a new stake in shares of Trane Technologies during the 4th quarter worth approximately $26,000. WFA Asset Management Corp boosted its holdings in shares of Trane Technologies by 208.3% in the first quarter. WFA Asset Management Corp now owns 74 shares of the company’s stock worth $25,000 after acquiring an additional 50 shares during the period. Vermillion & White Wealth Management Group LLC bought a new position in shares of Trane Technologies in the fourth quarter worth $28,000. Opal Wealth Advisors LLC bought a new position in shares of Trane Technologies in the first quarter worth $31,000. Finally, Flagship Wealth Advisors LLC bought a new position in shares of Trane Technologies in the fourth quarter worth $37,000. 82.97% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on TT. Barclays cut their price target on Trane Technologies from $500.00 to $475.00 and set an “overweight” rating for the company in a report on Monday, March 10th. JPMorgan Chase & Co. lifted their price objective on Trane Technologies from $334.00 to $400.00 and gave the company a “neutral” rating in a research note on Friday, May 16th. Citigroup lifted their price objective on Trane Technologies from $415.00 to $445.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Stephens raised Trane Technologies from an “equal weight” rating to an “overweight” rating and set a $475.00 price target for the company in a research note on Thursday, May 1st. Finally, HSBC raised Trane Technologies from a “hold” rating to a “buy” rating and lifted their price target for the stock from $405.00 to $415.00 in a research note on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Trane Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $427.47.

Insider Buying and Selling at Trane Technologies

In other news, insider Donald E. Simmons sold 3,571 shares of the business’s 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 sale, the insider now directly owns 3,593 shares of the company’s stock, valued at $1,365,340. The trade was a 49.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.38% of the company’s stock.

Trane Technologies Stock Up 1.2%

Shares of NYSE:TT opened at $426.63 on Tuesday. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $436.61. The company has a market cap of $95.15 billion, a PE ratio of 37.92, a P/E/G ratio of 2.50 and a beta of 1.16. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88. The stock’s 50-day moving average is $394.95 and its 200 day moving average is $376.53.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $2.45 earnings per share for the quarter, beating the consensus estimate of $2.20 by $0.25. The business had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $4.46 billion. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. The business’s revenue was up 11.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.94 EPS. Sell-side analysts anticipate 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. Shareholders of record on Friday, September 5th will be given a dividend of $0.94 per share. The ex-dividend date is Friday, September 5th. This represents a $3.76 annualized dividend and a yield of 0.88%. Trane Technologies’s payout ratio is 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.