Lake Street Advisors Group LLC Has $523,000 Stock Position in Trane Technologies plc (NYSE:TT)

Lake Street Advisors Group LLC grew its stake in Trane Technologies plc (NYSE:TT) by 27.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,742 shares of the company’s stock after buying an additional 380 shares during the period. Lake Street Advisors Group LLC’s holdings in Trane Technologies were worth $523,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GoalVest Advisory LLC lifted its position in shares of Trane Technologies by 157.1% during the 1st quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock worth $27,000 after purchasing an additional 55 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of Trane Technologies during the 1st quarter worth about $27,000. BOK Financial Private Wealth Inc. acquired a new position in shares of Trane Technologies during the 1st quarter worth about $30,000. BKM Wealth Management LLC acquired a new position in shares of Trane Technologies during the 4th quarter worth about $25,000. Finally, Sachetta LLC acquired a new position in shares of Trane Technologies during the 4th quarter worth about $27,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Price Performance

Shares of TT traded down $5.87 on Thursday, hitting $326.97. The company’s stock had a trading volume of 905,092 shares, compared to its average volume of 1,101,367. The company has a market capitalization of $74.01 billion, a PE ratio of 34.61, a PEG ratio of 2.67 and a beta of 1.01. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.13 and a quick ratio of 0.74. Trane Technologies plc has a fifty-two week low of $184.02 and a fifty-two week high of $347.33. The company has a 50 day moving average price of $332.17 and a 200 day moving average price of $301.91.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.30. Trane Technologies had a return on equity of 32.78% and a net margin of 11.81%. The firm had revenue of $4.22 billion for the quarter, compared to the consensus estimate of $3.99 billion. During the same quarter in the prior year, the business earned $1.41 EPS. The business’s revenue for the quarter was up 15.0% compared to the same quarter last year. On average, research analysts anticipate that Trane Technologies plc will post 10.49 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders 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 yield of 1.03%. The ex-dividend date of this dividend is Friday, September 6th. Trane Technologies’s dividend payout ratio is 35.90%.

Wall Street Analysts Forecast Growth

TT has been the topic of several research reports. Mizuho boosted their price target on Trane Technologies from $280.00 to $325.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Citigroup boosted their price target on Trane Technologies from $355.00 to $366.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Stephens boosted their price target on Trane Technologies from $310.00 to $320.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 1st. TD Cowen boosted their price target on Trane Technologies from $325.00 to $360.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Finally, UBS Group boosted their price target on Trane Technologies from $330.00 to $375.00 and gave the company a “buy” rating in a research note on Monday, June 3rd. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Trane Technologies currently has a consensus rating of “Hold” and an average price target of $312.36.

Insiders Place Their Bets

In other Trane Technologies news, SVP Evan M. Turtz sold 8,988 shares of the company’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $321.30, for a total transaction of $2,887,844.40. Following the transaction, the senior vice president now owns 20,758 shares of the company’s stock, valued at approximately $6,669,545.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, SVP Evan M. Turtz sold 8,988 shares of the stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $321.30, for a total value of $2,887,844.40. Following the transaction, the senior vice president now owns 20,758 shares of the company’s stock, valued at approximately $6,669,545.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Christopher J. Kuehn sold 4,000 shares of the stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $318.67, for a total value of $1,274,680.00. Following the completion of the transaction, the chief financial officer now directly owns 61,293 shares in the company, valued at approximately $19,532,240.31. The disclosure for this sale can be found here. Company insiders own 0.38% of the company’s stock.

Trane Technologies Company 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.