Sanders Morris Harris LLC Makes New $228,000 Investment in Trane Technologies plc (NYSE:TT)

Sanders Morris Harris LLC purchased a new position in shares of Trane Technologies plc (NYSE:TT) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 758 shares of the company’s stock, valued at approximately $228,000.

Several other hedge funds also recently modified their holdings of the company. MJP Associates Inc. ADV acquired a new stake in shares of Trane Technologies in the first quarter worth approximately $281,000. RFG Advisory LLC acquired a new stake in shares of Trane Technologies in the first quarter worth approximately $326,000. Inscription Capital LLC acquired a new stake in shares of Trane Technologies in the first quarter worth approximately $204,000. Park Avenue Securities LLC boosted its position in shares of Trane Technologies by 3.1% in the first quarter. Park Avenue Securities LLC now owns 16,610 shares of the company’s stock worth $4,986,000 after acquiring an additional 500 shares during the last quarter. Finally, KMG Fiduciary Partners LLC acquired a new stake in shares of Trane Technologies in the first quarter worth approximately $210,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on TT shares. Mizuho lifted their price target on shares of Trane Technologies from $280.00 to $325.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Stephens lifted their price target on shares of Trane Technologies from $310.00 to $320.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 1st. Robert W. Baird lifted their price target on shares of Trane Technologies from $315.00 to $344.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Wells Fargo & Company lifted their price target on shares of Trane Technologies from $281.00 to $295.00 and gave the company an “underweight” rating in a research report on Thursday, May 2nd. Finally, Barclays lifted their price target on shares of Trane Technologies from $354.00 to $380.00 and gave the company an “overweight” rating in a research report on Tuesday, June 4th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Trane Technologies presently has a consensus rating of “Hold” and an average price target of $309.79.

Insider Activity

In other 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 transaction of $1,274,680.00. Following the completion of the transaction, the chief financial officer now owns 61,293 shares of the company’s stock, valued at $19,532,240.31. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, SVP Evan M. Turtz sold 8,988 shares of the company’s stock in a transaction dated 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 sale, the senior vice president now owns 20,758 shares of the company’s stock, valued at $6,669,545.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Christopher J. Kuehn sold 4,000 shares of the company’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $318.67, for a total transaction of $1,274,680.00. Following the completion of the sale, the chief financial officer now directly 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. Corporate insiders own 0.38% of the company’s stock.

Trane Technologies Stock Down 0.5 %

Shares of NYSE:TT traded down $1.81 during midday trading on Friday, reaching $334.12. The company had a trading volume of 1,879,197 shares, compared to its average volume of 1,136,711. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.13 and a quick ratio of 0.74. The stock’s fifty day moving average price is $321.15 and its 200-day moving average price is $286.62. The stock has a market capitalization of $75.63 billion, a P/E ratio of 35.70, a PEG ratio of 2.67 and a beta of 1.01. Trane Technologies plc has a one year low of $182.96 and a one year high of $345.46.

Trane Technologies (NYSE:TT) last released its 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 net margin of 11.81% and a return on equity of 32.78%. The firm had revenue of $4.22 billion during the quarter, compared to analyst estimates of $3.99 billion. During the same quarter in the previous year, the firm earned $1.41 earnings per share. The firm’s revenue for the quarter was up 15.0% compared to the same quarter last year. Equities research analysts expect that Trane Technologies plc will post 10.46 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. Stockholders of record on Friday, September 6th will be issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend is Friday, September 6th. Trane Technologies’s dividend payout ratio (DPR) is 35.90%.

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.