Inscription Capital LLC Buys Shares of 676 Trane Technologies plc (NYSE:TT)

Inscription Capital LLC purchased a new position in shares of Trane Technologies plc (NYSE:TT) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 676 shares of the company’s stock, valued at approximately $228,000.

Other large investors have also modified their holdings of the company. Signature Wealth Management Group boosted its stake in Trane Technologies by 3.9% during the 1st quarter. Signature Wealth Management Group now owns 4,560 shares of the company’s stock valued at $1,536,000 after purchasing an additional 170 shares during the period. QRG Capital Management Inc. raised its holdings in shares of Trane Technologies by 1.2% during the first quarter. QRG Capital Management Inc. now owns 45,884 shares of the company’s stock valued at $15,459,000 after buying an additional 557 shares during the last quarter. Sagespring Wealth Partners LLC boosted its position in shares of Trane Technologies by 10.9% during the first quarter. Sagespring Wealth Partners LLC now owns 9,193 shares of the company’s stock worth $3,097,000 after buying an additional 906 shares during the period. Sowell Financial Services LLC acquired a new position in shares of Trane Technologies during the first quarter worth approximately $1,165,000. Finally, Brown Miller Wealth Management LLC bought a new position in Trane Technologies in the 1st quarter worth approximately $307,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Price Performance

NYSE TT opened at $419.63 on Thursday. The company has a current ratio of 1.09, a quick ratio of 0.74 and a debt-to-equity ratio of 0.52. 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 $93.59 billion, a PE ratio of 34.91, a PEG ratio of 2.77 and a beta of 1.16. The stock’s 50-day moving average price is $398.05 and its two-hundred day moving average price is $377.14.

Trane Technologies (NYSE:TT) last released its quarterly 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 net margin of 13.47% and a return on equity of 36.10%. The business had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.46 billion. During the same quarter in the previous year, the business earned $1.94 earnings per share. The firm’s revenue was up 11.2% compared to the same quarter last year. On average, analysts predict that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be issued a dividend of $0.94 per share. The ex-dividend date is Friday, September 5th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.90%. Trane Technologies’s dividend payout ratio is 31.28%.

Insider Activity

In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of the stock in a transaction that occurred on Wednesday, April 30th. The shares were 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 owns 3,593 shares in the company, valued at $1,365,340. This represents a 49.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.38% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on TT. Citigroup boosted their price target on Trane Technologies from $415.00 to $445.00 and gave the stock a “buy” rating in a research 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 company an “underweight” rating in a research report on Thursday, May 1st. 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. Robert W. Baird increased their price target on Trane Technologies from $360.00 to $396.00 and gave the company a “neutral” rating in a research note on Thursday, May 1st. Finally, Stephens upgraded Trane Technologies from an “equal weight” rating to an “overweight” rating and set a $475.00 price target on the stock in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $427.47.

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.