Exchange Traded Concepts LLC Acquires 8,305 Shares of Trane Technologies plc (NYSE:TT)

Exchange Traded Concepts LLC lifted its holdings in shares of Trane Technologies plc (NYSE:TTFree Report) by 515.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,916 shares of the company’s stock after purchasing an additional 8,305 shares during the period. Exchange Traded Concepts LLC’s holdings in Trane Technologies were worth $3,341,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. WFA Asset Management Corp boosted its holdings in 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 in the last quarter. Minot DeBlois Advisors LLC bought a new position in Trane Technologies in the fourth quarter worth approximately $26,000. Vermillion & White Wealth Management Group LLC bought a new position in Trane Technologies in the fourth quarter worth approximately $28,000. Opal Wealth Advisors LLC purchased a new stake in shares of Trane Technologies in the first quarter worth approximately $31,000. Finally, Flagship Wealth Advisors LLC purchased a new stake in shares of Trane Technologies in the fourth quarter worth approximately $37,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Trane Technologies Price Performance

Shares of NYSE TT opened at $426.63 on Tuesday. The firm has a market cap of $95.15 billion, a price-to-earnings ratio of 37.92, a price-to-earnings-growth ratio of 2.50 and a beta of 1.16. The stock has a fifty day simple moving average of $394.95 and a two-hundred day simple moving average of $376.53. 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 plc has a 1-year low of $298.15 and a 1-year high of $436.61.

Trane Technologies (NYSE:TTGet Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share for the quarter, topping the consensus estimate of $2.20 by $0.25. The company had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.46 billion. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. The firm’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.94 EPS. Analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Dividend Announcement

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

Analysts Set New Price Targets

TT has been the subject of several analyst reports. JPMorgan Chase & Co. increased their price objective on Trane Technologies from $334.00 to $400.00 and gave the stock a “neutral” rating in a research note on Friday, May 16th. Hsbc Global Res raised Trane Technologies from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 25th. Royal Bank of Canada increased their price objective on Trane Technologies from $363.00 to $408.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 1st. Barclays lowered their price objective on Trane Technologies from $500.00 to $475.00 and set an “overweight” rating for the company in a research note on Monday, March 10th. Finally, HSBC raised Trane Technologies from a “hold” rating to a “buy” rating and increased their price objective 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $427.47.

Check Out Our Latest Report on Trane Technologies

Insider Transactions at Trane Technologies

In other news, insider Donald E. Simmons sold 3,571 shares of the stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $380.00, for a total transaction of $1,356,980.00. Following the completion of the transaction, the insider now owns 3,593 shares in the company, valued at approximately $1,365,340. This represents a 49.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.38% of the stock is owned by corporate insiders.

About Trane Technologies

(Free Report)

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.

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Institutional Ownership by Quarter for Trane Technologies (NYSE:TT)

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