Mission Wealth Management LP Buys 268 Shares of Trane Technologies plc (NYSE:TT)

Mission Wealth Management LP raised its stake in shares of Trane Technologies plc (NYSE:TTFree Report) by 14.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,125 shares of the company’s stock after purchasing an additional 268 shares during the period. Mission Wealth Management LP’s holdings in Trane Technologies were worth $638,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of TT. Trexquant Investment LP bought a new position in Trane Technologies during the 3rd quarter worth $371,000. AQR Capital Management LLC raised its position in shares of Trane Technologies by 4.9% in the 3rd quarter. AQR Capital Management LLC now owns 98,238 shares of the company’s stock worth $19,933,000 after acquiring an additional 4,558 shares in the last quarter. Lido Advisors LLC raised its position in shares of Trane Technologies by 10.3% in the 3rd quarter. Lido Advisors LLC now owns 3,770 shares of the company’s stock worth $765,000 after acquiring an additional 351 shares in the last quarter. Schroder Investment Management Group raised its position in shares of Trane Technologies by 48.7% in the 3rd quarter. Schroder Investment Management Group now owns 288,751 shares of the company’s stock worth $58,590,000 after acquiring an additional 94,534 shares in the last quarter. Finally, Royal Bank of Canada raised its position in shares of Trane Technologies by 11.0% in the 3rd quarter. Royal Bank of Canada now owns 1,896,134 shares of the company’s stock worth $384,744,000 after acquiring an additional 188,054 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

Insider Transactions at Trane Technologies

In other news, CFO Christopher J. Kuehn sold 4,000 shares of the business’s 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CFO Christopher J. Kuehn sold 4,000 shares of the business’s 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Evan M. Turtz sold 8,988 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $321.30, for a total value of $2,887,844.40. Following the completion of the transaction, the senior vice president now owns 20,758 shares in the company, valued at approximately $6,669,545.40. The disclosure for this sale can be found here. Company insiders own 0.38% of the company’s stock.

Trane Technologies Stock Performance

Shares of TT opened at $331.68 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.74 and a current ratio of 1.13. The stock has a 50 day moving average price of $328.32 and a two-hundred day moving average price of $293.15. The firm has a market capitalization of $75.08 billion, a P/E ratio of 35.44, a P/E/G ratio of 2.57 and a beta of 1.01. Trane Technologies plc has a 52 week low of $184.02 and a 52 week high of $345.46.

Trane Technologies (NYSE:TTGet Free Report) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $1.94 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%. The company’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.41 EPS. Equities analysts forecast that Trane Technologies plc will post 10.48 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be paid 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 payout ratio is presently 35.90%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on TT shares. Stephens lifted their price objective on Trane Technologies from $310.00 to $320.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 1st. The Goldman Sachs Group lifted their price objective on Trane Technologies from $287.00 to $326.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. TD Cowen lifted their price objective on Trane Technologies from $325.00 to $360.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Wells Fargo & Company boosted their target price on Trane Technologies from $281.00 to $295.00 and gave the company an “underweight” rating in a research report on Thursday, May 2nd. Finally, Robert W. Baird boosted their target price on Trane Technologies from $315.00 to $344.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $309.79.

Read Our Latest Research Report on Trane Technologies

Trane Technologies Profile

(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.

See Also

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

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