Trane Technologies plc (NYSE:TT) Stock Position Increased by SVB Wealth LLC

SVB Wealth LLC grew its position in Trane Technologies plc (NYSE:TT) by 22.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,091 shares of the company’s stock after purchasing an additional 745 shares during the period. SVB Wealth LLC’s holdings in Trane Technologies were worth $1,228,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. Morse Asset Management Inc lifted its holdings in shares of Trane Technologies by 2.4% in the first quarter. Morse Asset Management Inc now owns 4,300 shares of the company’s stock valued at $1,291,000 after buying an additional 100 shares during the period. LRI Investments LLC acquired a new stake in Trane Technologies in the 1st quarter valued at about $165,000. 1832 Asset Management L.P. grew its stake in shares of Trane Technologies by 21.5% in the 1st quarter. 1832 Asset Management L.P. now owns 5,665 shares of the company’s stock worth $1,701,000 after purchasing an additional 1,004 shares during the last quarter. Quadrature Capital Ltd bought a new stake in shares of Trane Technologies in the 1st quarter worth approximately $9,925,000. Finally, Evergreen Quality Fund GP Ltd. acquired a new stake in Trane Technologies during the first quarter valued at approximately $40,241,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Barclays lifted their price target on shares of Trane Technologies from $380.00 to $385.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Citigroup increased their price target on Trane Technologies from $355.00 to $366.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. JPMorgan Chase & Co. lifted their price target on Trane Technologies from $247.00 to $300.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. Wells Fargo & Company upped their price objective on shares of Trane Technologies from $295.00 to $310.00 and gave the company an “underweight” rating in a research note on Wednesday, July 10th. Finally, UBS Group upped their price target on shares of Trane Technologies from $330.00 to $375.00 and gave the company a “buy” rating in a research report on Monday, June 3rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $312.36.

Trane Technologies Stock Performance

TT stock traded down $0.48 on Tuesday, reaching $331.36. 196,380 shares of the company were exchanged, compared to its average volume of 1,106,185. The firm has a market capitalization of $75.00 billion, a PE ratio of 35.46, a PEG ratio of 2.55 and a beta of 1.01. Trane Technologies plc has a 12 month low of $184.02 and a 12 month high of $347.33. The stock’s fifty day moving average price is $332.16 and its 200 day moving average price is $304.06. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.13 and a quick ratio of 0.74.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.30. Trane Technologies had a net margin of 11.81% and a return on equity of 32.78%. The company had revenue of $4.22 billion for the quarter, compared to the consensus estimate of $3.99 billion. During the same quarter in the previous year, the firm posted $1.41 EPS. The business’s revenue was up 15.0% compared to the same quarter last year. On average, research analysts anticipate that Trane Technologies plc will post 10.49 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

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

Insider Activity at Trane Technologies

In other Trane Technologies news, CFO Christopher J. Kuehn sold 4,000 shares of the business’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $318.67, for a total value of $1,274,680.00. Following the sale, the chief financial officer now owns 61,293 shares of the company’s stock, valued at approximately $19,532,240.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, SVP Evan M. Turtz sold 8,988 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at approximately $6,669,545.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Christopher J. Kuehn sold 4,000 shares of the company’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $318.67, for a total value of $1,274,680.00. Following the completion of the sale, the chief financial officer now owns 61,293 shares in the company, valued at $19,532,240.31. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by corporate insiders.

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.