Azzad Asset Management Inc. ADV Acquires 55 Shares of Trane Technologies plc (NYSE:TT)

Azzad Asset Management Inc. ADV lifted its holdings in shares of Trane Technologies plc (NYSE:TT) by 0.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,294 shares of the company’s stock after purchasing an additional 55 shares during the period. Azzad Asset Management Inc. ADV’s holdings in Trane Technologies were worth $1,889,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Keel Point LLC boosted its position in shares of Trane Technologies by 3.0% during the 4th quarter. Keel Point LLC now owns 1,326 shares of the company’s stock valued at $323,000 after purchasing an additional 39 shares in the last quarter. Rosenberg Matthew Hamilton raised its stake in Trane Technologies by 27.2% during the 4th quarter. Rosenberg Matthew Hamilton now owns 192 shares of the company’s stock worth $47,000 after buying an additional 41 shares during the period. Whittier Trust Co. of Nevada Inc. raised its stake in Trane Technologies by 2.3% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,847 shares of the company’s stock worth $450,000 after buying an additional 42 shares during the period. Level Four Advisory Services LLC raised its stake in Trane Technologies by 1.5% during the 4th quarter. Level Four Advisory Services LLC now owns 2,757 shares of the company’s stock worth $672,000 after buying an additional 42 shares during the period. Finally, Cedrus LLC raised its stake in Trane Technologies by 2.6% during the 4th quarter. Cedrus LLC now owns 1,669 shares of the company’s stock worth $407,000 after buying an additional 43 shares during the period. Institutional investors own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

TT has been the topic of a number of research reports. Stephens upped their price target on Trane Technologies from $310.00 to $320.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 1st. Citigroup increased their price objective on Trane Technologies from $355.00 to $366.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Mizuho raised their target price on Trane Technologies from $280.00 to $325.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. TD Cowen raised their target price on Trane Technologies from $325.00 to $360.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Finally, UBS Group raised their target price on Trane Technologies from $330.00 to $375.00 and gave the company a “buy” rating in a report on Monday, June 3rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $309.79.

Insiders Place Their Bets

In other Trane Technologies news, SVP Evan M. Turtz sold 8,988 shares of the firm’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 completion of the sale, the senior vice president now directly owns 20,758 shares of the company’s stock, valued at $6,669,545.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Christopher J. Kuehn sold 4,000 shares of Trane Technologies stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 61,293 shares in the company, valued at $19,532,240.31. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Evan M. Turtz sold 8,988 shares of Trane Technologies stock in a transaction 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 of the company’s stock, valued at $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 Trane Technologies stock opened at $330.86 on Thursday. The business’s fifty day simple moving average is $327.14 and its 200 day simple moving average is $291.89. The firm has a market capitalization of $74.89 billion, a P/E ratio of 35.35, a price-to-earnings-growth ratio of 2.52 and a beta of 1.01. Trane Technologies plc has a 12 month low of $184.02 and a 12 month high of $345.46. The company has a current ratio of 1.13, a quick ratio of 0.74 and a debt-to-equity ratio of 0.58.

Trane Technologies (NYSE:TT) last released its earnings results on Tuesday, April 30th. The company reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.30. Trane Technologies had a return on equity of 32.78% and a net margin of 11.81%. The business had revenue of $4.22 billion during the quarter, compared to the consensus estimate of $3.99 billion. During the same period last year, the business posted $1.41 earnings per share. The business’s revenue for the quarter was up 15.0% on a year-over-year basis. As a group, analysts anticipate that Trane Technologies plc will post 10.48 EPS for the current year.

Trane Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date is Friday, September 6th. Trane Technologies’s dividend payout ratio is currently 35.90%.

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.