Exchange Traded Concepts LLC Buys 8,305 Shares of Trane Technologies plc (NYSE:TT)

Exchange Traded Concepts LLC grew its holdings in Trane Technologies plc (NYSE:TT) by 515.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,916 shares of the company’s stock after acquiring an additional 8,305 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Trane Technologies were worth $3,341,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Atlas Private Wealth Advisors boosted its position in shares of Trane Technologies by 1.2% in the first quarter. Atlas Private Wealth Advisors now owns 4,092 shares of the company’s stock valued at $1,379,000 after acquiring an additional 48 shares during the period. Sound Income Strategies LLC lifted its position in Trane Technologies by 793.9% during the first quarter. Sound Income Strategies LLC now owns 885 shares of the company’s stock worth $298,000 after purchasing an additional 786 shares during the period. Ritholtz Wealth Management lifted its position in Trane Technologies by 15.1% during the first quarter. Ritholtz Wealth Management now owns 1,493 shares of the company’s stock worth $503,000 after purchasing an additional 196 shares during the period. American Institute for Advanced Investment Management LLP bought a new stake in Trane Technologies during the first quarter worth about $224,000. Finally, Opal Wealth Advisors LLC bought a new stake in Trane Technologies during the first quarter worth about $31,000. Institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling at Trane Technologies

In related news, insider Donald E. Simmons sold 3,571 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 3,593 shares in the company, valued at $1,365,340. This represents a 49.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.38% of the company’s stock.

Trane Technologies Trading Up 1.2%

NYSE TT opened at $426.63 on Tuesday. The business’s 50-day moving average price is $394.95 and its two-hundred day moving average price is $376.53. Trane Technologies plc has a 12 month low of $298.15 and a 12 month high of $436.61. The firm has a market capitalization of $95.15 billion, a PE ratio of 37.92, a price-to-earnings-growth ratio of 2.50 and a beta of 1.16. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58.

Trane Technologies (NYSE:TT) last released its quarterly 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. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. The firm had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.46 billion. During the same quarter in the previous year, the company posted $1.94 EPS. The business’s revenue was up 11.2% on a year-over-year basis. On average, analysts expect that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Announces Dividend

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

Analysts Set New Price Targets

Several research firms recently weighed in on TT. Hsbc Global Res raised shares of Trane Technologies from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 25th. HSBC raised shares of Trane Technologies from a “hold” rating to a “buy” rating and upped their price objective for the stock from $405.00 to $415.00 in a research report on Friday, April 25th. Royal Bank of Canada increased their target price on shares of Trane Technologies from $363.00 to $408.00 and gave the stock a “sector perform” rating in a report on Thursday, May 1st. Barclays decreased their price target on shares of Trane Technologies from $500.00 to $475.00 and set an “overweight” rating on the stock in a report on Monday, March 10th. Finally, Citigroup increased their price objective on shares of Trane Technologies from $415.00 to $445.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $427.47.

Trane Technologies 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.