First Trust Direct Indexing L.P. Grows Position in Trane Technologies plc (NYSE:TT)

First Trust Direct Indexing L.P. raised its holdings in Trane Technologies plc (NYSE:TT) by 9.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,131 shares of the company’s stock after acquiring an additional 642 shares during the period. First Trust Direct Indexing L.P.’s holdings in Trane Technologies were worth $2,141,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. BKM Wealth Management LLC purchased a new position in shares of Trane Technologies during the 4th quarter valued at about $25,000. Motco purchased a new position in shares of Trane Technologies during the 4th quarter valued at about $27,000. Sachetta LLC purchased a new position in shares of Trane Technologies during the 4th quarter valued at about $27,000. GoalVest Advisory LLC raised its holdings in shares of Trane Technologies by 157.1% during the 1st quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock valued at $27,000 after buying an additional 55 shares in the last quarter. Finally, Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of Trane Technologies during the 1st quarter valued at about $27,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Activity at Trane Technologies

In other Trane Technologies news, SVP Evan M. Turtz sold 8,988 shares of Trane Technologies stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $321.30, for a total transaction of $2,887,844.40. Following the completion of the transaction, the senior vice president now owns 20,758 shares in the company, valued at $6,669,545.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Trane Technologies news, SVP Evan M. Turtz sold 8,988 shares of Trane Technologies stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $321.30, for a total transaction of $2,887,844.40. Following the completion of the transaction, the senior vice president now owns 20,758 shares in the company, valued at $6,669,545.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Christopher J. Kuehn sold 4,000 shares of Trane Technologies 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 transaction, the chief financial officer now owns 61,293 shares of the company’s stock, valued at approximately $19,532,240.31. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by corporate insiders.

Trane Technologies Trading Up 2.0 %

NYSE TT opened at $331.29 on Friday. The company has a quick ratio of 0.74, a current ratio of 1.13 and a debt-to-equity ratio of 0.58. Trane Technologies plc has a twelve month low of $184.02 and a twelve month high of $345.46. The firm has a market capitalization of $74.99 billion, a PE ratio of 35.39, a P/E/G ratio of 2.57 and a beta of 1.01. The stock’s 50 day moving average is $327.78 and its 200 day moving average is $292.16.

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

Trane Technologies Announces Dividend

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

Wall Street Analysts Forecast Growth

TT has been the topic of several recent research reports. Robert W. Baird raised their price target on Trane Technologies from $315.00 to $344.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Mizuho raised their price target on Trane Technologies from $280.00 to $325.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. TD Cowen raised their price target on Trane Technologies from $325.00 to $360.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Barclays raised their price target on Trane Technologies from $354.00 to $380.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 4th. Finally, UBS Group raised their price target on Trane Technologies from $330.00 to $375.00 and gave the stock a “buy” rating in a research report on Monday, June 3rd. One investment 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’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $309.79.

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.