Lido Advisors LLC Boosts Position in Trane Technologies plc $TT

Lido Advisors LLC increased its position in shares of Trane Technologies plc (NYSE:TT) by 123.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 30,718 shares of the company’s stock after acquiring an additional 16,951 shares during the quarter. Lido Advisors LLC’s holdings in Trane Technologies were worth $12,801,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Farther Finance Advisors LLC boosted its holdings in shares of Trane Technologies by 64.0% in the fourth quarter. Farther Finance Advisors LLC now owns 7,478 shares of the company’s stock valued at $2,911,000 after acquiring an additional 2,917 shares in the last quarter. Dara Capital US Inc. purchased a new position in Trane Technologies during the fourth quarter worth about $966,000. ProCore Advisors LLC acquired a new stake in Trane Technologies in the fourth quarter valued at about $939,000. Horizon Investments LLC increased its position in Trane Technologies by 115.4% during the 4th quarter. Horizon Investments LLC now owns 30,560 shares of the company’s stock worth $11,894,000 after purchasing an additional 16,370 shares during the period. Finally, Buffalo Business & Estate Services Ltd. purchased a new position in shares of Trane Technologies during the 4th quarter worth approximately $4,325,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Trane Technologies

In related news, insider Donald E. Simmons sold 4,593 shares of the stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $500.00, for a total value of $2,296,500.00. Following the sale, the insider directly owned 3,819 shares of the company’s stock, valued at approximately $1,909,500. This represents a 54.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on TT shares. Evercore initiated coverage on Trane Technologies in a research note on Monday, April 13th. They issued an “outperform” rating and a $535.00 price target on the stock. BNP Paribas Exane assumed coverage on Trane Technologies in a report on Tuesday, April 14th. They issued an “outperform” rating and a $550.00 target price for the company. Royal Bank Of Canada upped their price target on shares of Trane Technologies from $440.00 to $501.00 and gave the stock a “sector perform” rating in a research note on Friday, May 1st. KeyCorp increased their price target on shares of Trane Technologies from $525.00 to $555.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Finally, JPMorgan Chase & Co. raised their price objective on shares of Trane Technologies from $460.00 to $476.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $516.67.

Trane Technologies Stock Performance

NYSE TT opened at $480.56 on Friday. Trane Technologies plc has a 1-year low of $348.06 and a 1-year high of $505.87. The company has a market capitalization of $106.23 billion, a P/E ratio of 37.17, a PEG ratio of 2.18 and a beta of 1.19. The business has a 50 day moving average price of $469.84 and a 200 day moving average price of $449.65. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.10 and a quick ratio of 0.77.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Friday, May 1st. The company reported $2.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.10. The firm had revenue of $4.97 billion during the quarter, compared to analysts’ expectations of $4.81 billion. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.Trane Technologies’s revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.45 earnings per share. Sell-side analysts expect that Trane Technologies plc will post 14.89 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 4th will be paid a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, September 4th. Trane Technologies’s payout ratio is 32.48%.

Trane Technologies Profile

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.