750 Shares in Trane Technologies plc (NYSE:TT) Acquired by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC bought a new position in Trane Technologies plc (NYSE:TT) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 750 shares of the company’s stock, valued at approximately $225,000.

A number of other hedge funds also recently bought and sold shares of the company. BKM Wealth Management LLC bought a new position in shares of Trane Technologies during the fourth quarter valued at approximately $25,000. Motco bought a new position in Trane Technologies in the fourth quarter valued at about $27,000. Sachetta LLC bought a new position in Trane Technologies in the fourth quarter valued at about $27,000. Ancora Advisors LLC bought a new position in Trane Technologies in the third quarter valued at about $40,000. Finally, Gables Capital Management Inc. lifted its holdings in Trane Technologies by 68.2% in the fourth quarter. Gables Capital Management Inc. now owns 185 shares of the company’s stock valued at $45,000 after acquiring an additional 75 shares during the period. Institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Citigroup increased their target price on Trane Technologies from $355.00 to $366.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. JPMorgan Chase & Co. raised their price objective on Trane Technologies from $247.00 to $300.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. Robert W. Baird raised their price objective on Trane Technologies from $315.00 to $344.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Wells Fargo & Company raised their price objective on Trane Technologies from $281.00 to $295.00 and gave the stock an “underweight” rating in a research note on Thursday, May 2nd. Finally, Stephens raised their price objective on Trane Technologies from $310.00 to $320.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $309.79.

Trane Technologies Price Performance

NYSE TT traded down $1.81 during trading on Friday, hitting $334.12. 1,879,197 shares of the stock traded hands, compared to its average volume of 1,136,711. The company has a market capitalization of $75.63 billion, a P/E ratio of 35.70, a price-to-earnings-growth ratio of 2.67 and a beta of 1.01. The company has a quick ratio of 0.74, a current ratio of 1.13 and a debt-to-equity ratio of 0.58. The firm has a 50-day simple moving average of $321.15 and a 200-day simple moving average of $286.62. Trane Technologies plc has a 12-month low of $182.96 and a 12-month high of $345.46.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.30. The firm had revenue of $4.22 billion during the quarter, compared to analyst estimates of $3.99 billion. Trane Technologies had a return on equity of 32.78% and a net margin of 11.81%. Trane Technologies’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same period last year, the company earned $1.41 EPS. As a group, analysts predict that Trane Technologies plc will post 10.46 EPS for the current year.

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be issued a $0.84 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.01%. Trane Technologies’s dividend payout ratio is presently 35.90%.

Insider Buying and Selling

In other Trane Technologies news, CFO Christopher J. Kuehn sold 4,000 shares of the business’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $318.67, for a total transaction of $1,274,680.00. Following the sale, the chief financial officer now owns 61,293 shares in the company, valued at approximately $19,532,240.31. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, SVP Evan M. Turtz sold 8,988 shares of the company’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $321.30, for a total value of $2,887,844.40. Following the sale, the senior vice president now owns 20,758 shares in the company, valued at $6,669,545.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Christopher J. Kuehn sold 4,000 shares of the stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $318.67, for a total value of $1,274,680.00. Following the transaction, the chief financial officer now owns 61,293 shares in the company, valued at approximately $19,532,240.31. The disclosure for this sale can be found here. 0.38% of the stock is owned by company insiders.

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.