Envestnet Asset Management Inc. Purchases 24,157 Shares of Trane Technologies plc (NYSE:TT)

Envestnet Asset Management Inc. lifted its stake in Trane Technologies plc (NYSE:TT - Free Report) by 8.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 298,261 shares of the company's stock after buying an additional 24,157 shares during the period. Envestnet Asset Management Inc. owned about 0.13% of Trane Technologies worth $110,163,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of TT. Global Wealth Strategies & Associates acquired a new position in Trane Technologies during the fourth quarter worth $26,000. Sound Income Strategies LLC increased its position in shares of Trane Technologies by 1,314.3% during the 4th quarter. Sound Income Strategies LLC now owns 99 shares of the company's stock worth $37,000 after purchasing an additional 92 shares in the last quarter. Flagship Wealth Advisors LLC bought a new position in Trane Technologies during the 4th quarter valued at about $37,000. Golden State Wealth Management LLC acquired a new position in Trane Technologies in the fourth quarter valued at about $39,000. Finally, Legacy Investment Solutions LLC acquired a new stake in shares of Trane Technologies during the third quarter worth approximately $44,000. Institutional investors own 82.97% of the company's stock.

Trane Technologies Trading Up 2.3 %

Shares of Trane Technologies stock traded up $7.84 on Friday, hitting $346.17. 1,531,556 shares of the company's stock traded hands, compared to its average volume of 1,288,233. The firm's 50-day moving average price is $347.12 and its two-hundred day moving average price is $376.38. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88. The stock has a market capitalization of $77.64 billion, a PE ratio of 30.77, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08. Trane Technologies plc has a one year low of $286.32 and a one year high of $422.00.

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Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The company reported $2.61 EPS for the quarter, beating analysts' consensus estimates of $2.52 by $0.09. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. On average, research analysts expect that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 1.09%. The ex-dividend date is Friday, June 6th. Trane Technologies's payout ratio is 33.42%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on TT. Royal Bank of Canada boosted their target price on Trane Technologies from $390.00 to $395.00 and gave the stock a "sector perform" rating in a report on Friday, January 3rd. Citigroup decreased their target price on Trane Technologies from $478.00 to $476.00 and set a "buy" rating on the stock in a report on Monday, January 13th. JPMorgan Chase & Co. cut their price target on Trane Technologies from $396.00 to $323.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Wells Fargo & Company decreased their price objective on shares of Trane Technologies from $380.00 to $360.00 and set an "underweight" rating on the stock in a report on Friday, January 31st. Finally, Melius downgraded shares of Trane Technologies from a "buy" rating to a "hold" rating and set a $398.00 target price for the company. in a research note on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $409.13.

Insider Activity at Trane Technologies

In other Trane Technologies news, CFO Christopher J. Kuehn sold 770 shares of Trane Technologies stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $358.39, for a total transaction of $275,960.30. Following the transaction, the chief financial officer now directly owns 62,221 shares in the company, valued at approximately $22,299,384.19. The trade was a 1.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO David S. Regnery sold 2,754 shares of the stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $357.34, for a total value of $984,114.36. Following the completion of the sale, the chief executive officer now owns 132,969 shares of the company's stock, valued at $47,515,142.46. This trade represents a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,234 shares of company stock worth $2,588,102. 0.38% of the stock is currently owned by company insiders.

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.