Graypoint LLC Sells 91 Shares of Trane Technologies plc (NYSE:TT)

Graypoint LLC lessened its stake in shares of Trane Technologies plc (NYSE:TT) by 2.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,128 shares of the company’s stock after selling 91 shares during the quarter. Graypoint LLC’s holdings in Trane Technologies were worth $1,391,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of TT. Verdence Capital Advisors LLC lifted its holdings in shares of Trane Technologies by 3.1% in the first quarter. Verdence Capital Advisors LLC now owns 1,397 shares of the company’s stock valued at $471,000 after purchasing an additional 42 shares in the last quarter. Trust Investment Advisors lifted its holdings in Trane Technologies by 1.2% during the 1st quarter. Trust Investment Advisors now owns 4,744 shares of the company’s stock worth $1,598,000 after buying an additional 57 shares during the period. Cullen Frost Bankers Inc. boosted its holdings in Trane Technologies by 692.8% in the first quarter. Cullen Frost Bankers Inc. now owns 24,917 shares of the company’s stock worth $8,395,000 after acquiring an additional 21,774 shares in the last quarter. Parcion Private Wealth LLC bought a new position in shares of Trane Technologies during the first quarter valued at about $431,000. Finally, Victory Capital Management Inc. lifted its stake in Trane Technologies by 14.7% in the first quarter. Victory Capital Management Inc. now owns 300,945 shares of the company’s stock valued at $101,394,000 after purchasing an additional 38,588 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on TT shares. Royal Bank Of Canada raised their price objective on Trane Technologies from $363.00 to $408.00 and gave the company a “sector perform” rating in a research note on Thursday, May 1st. Hsbc Global Res raised shares of Trane Technologies from a “hold” rating to a “strong-buy” rating in a report on Friday, April 25th. Wells Fargo & Company boosted their target price on shares of Trane Technologies from $370.00 to $410.00 and gave the company an “underweight” rating in a report on Tuesday, July 1st. Robert W. Baird raised their target price on shares of Trane Technologies from $396.00 to $450.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, Citigroup boosted their target price on shares of Trane Technologies from $445.00 to $502.00 and gave the stock a “buy” rating in a research report on Monday. 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Trane Technologies has an average rating of “Moderate Buy” and a consensus target price of $441.40.

Insider Transactions at Trane Technologies

In other 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 transaction, the insider owned 3,593 shares of the company’s stock, valued at $1,365,340. This represents a 49.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.38% of the company’s stock.

Trane Technologies Trading Up 3.0%

TT opened at $449.97 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.09 and a quick ratio of 0.74. The company’s 50 day moving average price is $428.78 and its two-hundred day moving average price is $382.96. Trane Technologies plc has a fifty-two week low of $298.15 and a fifty-two week high of $450.93. The firm has a market capitalization of $100.35 billion, a price-to-earnings ratio of 37.43, a PEG ratio of 2.84 and a beta of 1.15.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $2.45 EPS for the quarter, topping the consensus estimate of $2.20 by $0.25. The firm had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.46 billion. Trane Technologies had a net margin of 13.47% and a return on equity of 36.10%. The business’s revenue was up 11.2% compared to the same quarter last year. During the same period last year, the firm posted $1.94 earnings per share. As a group, research analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be issued a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 0.84%. The ex-dividend date is Friday, September 5th. Trane Technologies’s dividend payout ratio is presently 31.28%.

Trane Technologies Company 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.