93 Shares in Trane Technologies plc (NYSE:TT) Bought by Opal Wealth Advisors LLC

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

Several other institutional investors have also bought and sold shares of the stock. Azzad Asset Management Inc. ADV grew its stake in Trane Technologies by 1.4% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 6,454 shares of the company’s stock valued at $2,174,000 after purchasing an additional 86 shares during the period. Goldstone Financial Group LLC grew its stake in Trane Technologies by 19.7% in the 1st quarter. Goldstone Financial Group LLC now owns 1,034 shares of the company’s stock valued at $348,000 after purchasing an additional 170 shares during the period. CVA Family Office LLC grew its stake in Trane Technologies by 5.4% in the 1st quarter. CVA Family Office LLC now owns 860 shares of the company’s stock valued at $290,000 after purchasing an additional 44 shares during the period. Everhart Financial Group Inc. grew its stake in Trane Technologies by 5.4% in the 1st quarter. Everhart Financial Group Inc. now owns 2,749 shares of the company’s stock valued at $926,000 after purchasing an additional 141 shares during the period. Finally, Lynch Asset Management Inc. bought a new position in Trane Technologies in the 1st quarter valued at $337,000. Institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling at Trane Technologies

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

Analyst Ratings Changes

A number of brokerages have issued reports on TT. Citigroup upped their price objective on Trane Technologies from $415.00 to $445.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. JPMorgan Chase & Co. upped their price target on Trane Technologies from $334.00 to $400.00 and gave the company a “neutral” rating in a research report on Friday, May 16th. HSBC raised Trane Technologies from a “hold” rating to a “buy” rating and upped their price target for the company from $405.00 to $415.00 in a research report on Friday, April 25th. Wells Fargo & Company upped their price target on Trane Technologies from $330.00 to $370.00 and gave the company an “underweight” rating in a research report on Thursday, May 1st. Finally, UBS Group upped their price target on Trane Technologies from $470.00 to $500.00 and gave the company a “buy” rating in a research report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Trane Technologies currently has an average rating of “Moderate Buy” and an average target price of $427.47.

Trane Technologies Stock Performance

Shares of TT opened at $426.63 on Tuesday. The stock’s 50-day simple moving average is $394.95 and its 200 day simple moving average is $376.53. The stock has a market capitalization 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 company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21. Trane Technologies plc has a 52-week low of $298.15 and a 52-week high of $436.61.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $2.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.20 by $0.25. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. The business had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $4.46 billion. During the same quarter in the prior year, the firm posted $1.94 EPS. The firm’s quarterly revenue was up 11.2% on a year-over-year basis. Research analysts forecast that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be issued a $0.94 dividend. 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 currently 31.28%.

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.