Trane Technologies plc (NYSE:TT) Shares Sold by Miracle Mile Advisors LLC

Miracle Mile Advisors LLC lessened its stake in shares of Trane Technologies plc (NYSE:TT) by 3.1% in the 1st quarter, Holdings Channel reports. The firm owned 6,686 shares of the company’s stock after selling 212 shares during the period. Miracle Mile Advisors LLC’s holdings in Trane Technologies were worth $2,253,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Minot DeBlois Advisors LLC acquired a new stake in Trane Technologies in the 4th quarter valued at about $26,000. Vermillion & White Wealth Management Group LLC acquired a new stake in Trane Technologies in the 4th quarter valued at about $28,000. Flagship Wealth Advisors LLC acquired a new stake in Trane Technologies in the 4th quarter valued at about $37,000. Golden State Wealth Management LLC acquired a new stake in Trane Technologies in the 4th quarter valued at about $39,000. Finally, NBC Securities Inc. acquired a new stake in Trane Technologies in the 1st quarter valued at about $39,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of the firm’s stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $380.00, for a total value of $1,356,980.00. Following the completion of the transaction, the insider now owns 3,593 shares of the company’s stock, valued at $1,365,340. This trade represents a 49.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.38% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on TT shares. Robert W. Baird increased their price target on shares of Trane Technologies from $360.00 to $396.00 and gave the company a “neutral” rating in a research note on Thursday, May 1st. Stephens raised shares of Trane Technologies from an “equal weight” rating to an “overweight” rating and set a $475.00 price target for the company in a research note on Thursday, May 1st. Barclays dropped their price target on shares of Trane Technologies from $500.00 to $475.00 and set an “overweight” rating for the company in a research note on Monday, March 10th. Hsbc Global Res raised shares of Trane Technologies from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 25th. Finally, Royal Bank of Canada increased their price target on shares of Trane Technologies from $363.00 to $408.00 and gave the company a “sector perform” rating in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $427.47.

Trane Technologies Stock Performance

NYSE:TT opened at $428.93 on Monday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21. The stock has a market capitalization of $95.66 billion, a P/E ratio of 38.13, a PEG ratio of 2.50 and a beta of 1.16. The company has a 50 day moving average price of $382.93 and a 200 day moving average price of $376.21. Trane Technologies plc has a fifty-two week low of $298.15 and a fifty-two week high of $436.61.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $2.45 earnings per share for the quarter, topping analysts’ consensus estimates of $2.20 by $0.25. The firm had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.46 billion. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. The firm’s quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter last year, the company posted $1.94 EPS. Equities research analysts forecast that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be given a $0.94 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $3.76 annualized dividend and a yield of 0.88%. Trane Technologies’s dividend payout ratio is presently 31.28%.

Trane Technologies 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.