Trane Technologies plc (NYSE:TT) Stake Lifted by Wedmont Private Capital

Wedmont Private Capital lifted its holdings in Trane Technologies plc (NYSE:TT) by 5.1% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,594 shares of the company’s stock after purchasing an additional 126 shares during the quarter. Wedmont Private Capital’s holdings in Trane Technologies were worth $892,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of TT. International Assets Investment Management LLC grew its stake in shares of Trane Technologies by 1.6% in the fourth quarter. International Assets Investment Management LLC now owns 4,241 shares of the company’s stock worth $1,034,000 after purchasing an additional 65 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake in Trane Technologies by 73.1% during the fourth quarter. Sequoia Financial Advisors LLC now owns 4,948 shares of the company’s stock valued at $1,207,000 after buying an additional 2,090 shares in the last quarter. Cerity Partners LLC boosted its stake in Trane Technologies by 137.9% during the fourth quarter. Cerity Partners LLC now owns 33,549 shares of the company’s stock valued at $8,183,000 after buying an additional 19,446 shares in the last quarter. Sapient Capital LLC bought a new position in Trane Technologies during the fourth quarter valued at about $1,031,000. Finally, Valeo Financial Advisors LLC boosted its stake in Trane Technologies by 33.0% during the fourth quarter. Valeo Financial Advisors LLC now owns 1,887 shares of the company’s stock valued at $460,000 after buying an additional 468 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on TT shares. TD Cowen raised their target price on Trane Technologies from $325.00 to $360.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Royal Bank of Canada raised their target price on Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a research note on Thursday, August 1st. Citigroup upped their target price on Trane Technologies from $355.00 to $366.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Mizuho upped their target price on Trane Technologies from $280.00 to $325.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Finally, The Goldman Sachs Group upped their target price on Trane Technologies from $287.00 to $326.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $323.29.

Trane Technologies Stock Up 1.6 %

Trane Technologies stock traded up $5.30 during mid-day trading on Tuesday, hitting $338.19. The company’s stock had a trading volume of 468,356 shares, compared to its average volume of 1,131,603. The firm’s 50 day moving average is $331.50 and its 200 day moving average is $309.57. The company has a market cap of $76.55 billion, a PE ratio of 35.73, a price-to-earnings-growth ratio of 2.50 and a beta of 1.01. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.17 and a quick ratio of 0.74. Trane Technologies plc has a 52-week low of $184.02 and a 52-week high of $351.41.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $3.30 earnings per share for the quarter, topping analysts’ consensus estimates of $3.08 by $0.22. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. The company had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.13 billion. During the same period last year, the business earned $2.68 EPS. The business’s quarterly revenue was up 12.8% on a year-over-year basis. On average, analysts anticipate that Trane Technologies plc will post 10.83 earnings per share for the current year.

Trane Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date is Friday, September 6th. Trane Technologies’s dividend payout ratio (DPR) is presently 35.90%.

Insider Transactions at Trane Technologies

In other news, EVP Raymond D. Pittard sold 1,805 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total transaction of $593,213.25. Following the transaction, the executive vice president now owns 83,517 shares of the company’s stock, valued at approximately $27,447,862.05. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Raymond D. Pittard sold 1,805 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total transaction of $593,213.25. Following the transaction, the executive vice president now owns 83,517 shares of the company’s stock, valued at approximately $27,447,862.05. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO David S. Regnery sold 29,450 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $321.25, for a total value of $9,460,812.50. Following the transaction, the chief executive officer now directly owns 132,946 shares in the company, valued at approximately $42,708,902.50. The disclosure for this sale can be found here. Insiders sold 44,243 shares of company stock valued at $14,216,550 in the last three months. Corporate insiders own 0.38% of the company’s stock.

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.