United Asset Strategies Inc. Makes New $758,000 Investment in Trane Technologies plc $TT

United Asset Strategies Inc. purchased a new position in Trane Technologies plc (NYSE:TT) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,820 shares of the company’s stock, valued at approximately $758,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Integrated Advisors Network LLC raised its holdings in Trane Technologies by 2.4% during the 1st quarter. Integrated Advisors Network LLC now owns 3,784 shares of the company’s stock valued at $1,577,000 after buying an additional 89 shares during the last quarter. Kiley Juergens Wealth Management LLC bought a new stake in Trane Technologies in the 1st quarter worth $624,000. Westfuller Advisors LLC increased its position in shares of Trane Technologies by 5.9% in the first quarter. Westfuller Advisors LLC now owns 447 shares of the company’s stock valued at $186,000 after acquiring an additional 25 shares during the period. Kathmere Capital Management LLC boosted its holdings in shares of Trane Technologies by 149.4% during the first quarter. Kathmere Capital Management LLC now owns 2,586 shares of the company’s stock worth $1,078,000 after purchasing an additional 1,549 shares during the period. Finally, Appleton Partners Inc. MA grew its stake in shares of Trane Technologies by 3.5% in the first quarter. Appleton Partners Inc. MA now owns 1,818 shares of the company’s stock worth $758,000 after purchasing an additional 62 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Trane Technologies Stock Performance

Shares of NYSE TT opened at $476.64 on Wednesday. Trane Technologies plc has a 12-month low of $348.06 and a 12-month high of $505.87. The firm has a market capitalization of $105.36 billion, a price-to-earnings ratio of 36.86, a price-to-earnings-growth ratio of 2.24 and a beta of 1.19. The company has a current ratio of 1.10, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46. The firm has a 50 day moving average of $470.52 and a 200 day moving average of $442.56.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Friday, May 1st. The company reported $2.63 EPS for the quarter, topping the consensus estimate of $2.53 by $0.10. The firm had revenue of $4.97 billion for the quarter, compared to the consensus estimate of $4.81 billion. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter last year, the company earned $2.45 earnings per share. On average, research analysts anticipate that Trane Technologies plc will post 14.9 earnings per share for the current year.

Trane Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 4th will be issued a $1.05 dividend. 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%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on TT. Barclays boosted their price objective on shares of Trane Technologies from $507.00 to $585.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Citigroup lifted their target price on shares of Trane Technologies from $525.00 to $570.00 and gave the company a “buy” rating in a research note on Friday, May 1st. JPMorgan Chase & Co. boosted their price target on shares of Trane Technologies from $460.00 to $476.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. Evercore initiated coverage on shares of Trane Technologies in a report on Monday, April 13th. They issued an “outperform” rating and a $535.00 price objective for the company. Finally, BNP Paribas Exane started coverage on Trane Technologies in a research report on Tuesday, April 14th. They set an “outperform” rating and a $550.00 price objective on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Trane Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $512.19.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies 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 transaction of $2,296,500.00. Following the completion of the transaction, the insider owned 3,819 shares of the company’s stock, valued at $1,909,500. This represents a 54.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.43% of the company’s stock.

About Trane Technologies

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.