Ritholtz Wealth Management Raises Stock Position in Trane Technologies plc (NYSE:TT)

Ritholtz Wealth Management grew its holdings in Trane Technologies plc (NYSE:TT) by 15.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,493 shares of the company’s stock after purchasing an additional 196 shares during the quarter. Ritholtz Wealth Management’s holdings in Trane Technologies were worth $503,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of TT. WFA Asset Management Corp boosted its position in Trane Technologies by 208.3% during 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 during the last quarter. Minot DeBlois Advisors LLC acquired a new stake in Trane Technologies during the fourth quarter worth approximately $26,000. Vermillion & White Wealth Management Group LLC acquired a new position in shares of Trane Technologies in the 4th quarter valued at $28,000. Opal Wealth Advisors LLC acquired a new position in shares of Trane Technologies in the 1st quarter valued at $31,000. Finally, Flagship Wealth Advisors LLC acquired a new position in shares of Trane Technologies in the 4th quarter valued at $37,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Trane Technologies Stock Performance

Shares of TT stock opened at $419.63 on Friday. Trane Technologies plc has a 12 month low of $298.15 and a 12 month high of $436.61. 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 firm has a market capitalization of $93.59 billion, a P/E ratio of 34.91, a P/E/G ratio of 2.76 and a beta of 1.16. The company’s fifty day moving average price is $399.67 and its two-hundred day moving average price is $377.18.

Trane Technologies (NYSE:TT) last released its 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 net margin of 13.47% and a return on equity of 36.10%. The company’s revenue was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.94 EPS. On average, research analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be given a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend is Friday, September 5th. Trane Technologies’s payout ratio is currently 31.28%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on TT shares. Robert W. Baird lifted their price target on shares of Trane Technologies from $360.00 to $396.00 and gave the company a “neutral” rating in a report on Thursday, May 1st. HSBC upgraded shares of Trane Technologies from a “hold” rating to a “buy” rating and lifted their price target for the company from $405.00 to $415.00 in a report on Friday, April 25th. Hsbc Global Res upgraded shares of Trane Technologies from a “hold” rating to a “strong-buy” rating in a report on Friday, April 25th. Stephens raised shares of Trane Technologies from an “equal weight” rating to an “overweight” rating and set a $475.00 target price on the stock in a research note on Thursday, May 1st. Finally, Royal Bank Of Canada raised their target price on shares of Trane Technologies from $363.00 to $408.00 and gave the company a “sector perform” rating in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Trane Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $427.47.

Insider Transactions at Trane Technologies

In other news, insider Donald E. Simmons sold 3,571 shares of Trane Technologies stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $380.00, for a total value of $1,356,980.00. Following the completion of the transaction, the insider now directly owns 3,593 shares of the company’s stock, valued at approximately $1,365,340. The trade was a 49.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.38% of the company’s stock.

About Trane Technologies

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.