Opal Wealth Advisors LLC Takes $31,000 Position in Trane Technologies plc (NYSE:TT)

Opal Wealth Advisors LLC acquired a new stake in shares of Trane Technologies plc (NYSE:TT) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 93 shares of the company’s stock, valued at approximately $31,000.

Several other institutional investors have also recently modified their holdings of TT. Vanguard Group Inc. grew its position in Trane Technologies by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 19,235,570 shares of the company’s stock worth $7,104,658,000 after acquiring an additional 152,353 shares during the last quarter. Geode Capital Management LLC grew its position in Trane Technologies by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 4,775,263 shares of the company’s stock worth $1,760,549,000 after acquiring an additional 136,349 shares during the last quarter. Ameriprise Financial Inc. grew its position in Trane Technologies by 4.1% during the 4th quarter. Ameriprise Financial Inc. now owns 3,343,390 shares of the company’s stock worth $1,234,908,000 after acquiring an additional 130,867 shares during the last quarter. Norges Bank bought a new position in Trane Technologies during the 4th quarter worth approximately $1,117,816,000. Finally, Northern Trust Corp grew its position in Trane Technologies by 20.1% during the 4th quarter. Northern Trust Corp now owns 2,567,527 shares of the company’s stock worth $948,316,000 after acquiring an additional 429,953 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of Trane Technologies 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. The trade was a 49.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.38% of the stock is owned by company insiders.

Trane Technologies Trading Up 1.2%

TT opened at $426.63 on Tuesday. The stock has a market cap of $95.15 billion, a PE ratio of 37.92, a PEG ratio of 2.50 and a beta of 1.16. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. The business has a 50 day moving average of $394.95 and a 200-day moving average of $376.53. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $436.61.

Trane Technologies (NYSE:TT) last released its earnings results on Wednesday, April 30th. The company reported $2.45 EPS for the quarter, beating analysts’ consensus estimates of $2.20 by $0.25. The company had revenue of $4.69 billion during 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 firm’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.94 EPS. Equities research analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TT. Barclays reduced their price target on Trane Technologies from $500.00 to $475.00 and set an “overweight” rating on the stock in a research report on Monday, March 10th. 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 report on Friday, May 16th. Stephens upgraded Trane Technologies from an “equal weight” rating to an “overweight” rating and set a $475.00 price objective for the company in a report on Thursday, May 1st. HSBC upgraded 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 report on Friday, April 25th. Finally, Citigroup increased their price objective on Trane Technologies from $415.00 to $445.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $427.47.

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.