SeaCrest Wealth Management LLC Sells 56 Shares of Trane Technologies plc (NYSE:TT)

SeaCrest Wealth Management LLC cut its holdings in Trane Technologies plc (NYSE:TT) by 4.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,346 shares of the company’s stock after selling 56 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Trane Technologies were worth $443,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Ninety One North America Inc. boosted its stake in Trane Technologies by 69.5% in the 2nd quarter. Ninety One North America Inc. now owns 18,909 shares of the company’s stock worth $6,220,000 after purchasing an additional 7,754 shares during the period. First Citizens Bank & Trust Co. lifted its holdings in shares of Trane Technologies by 22.9% in the second quarter. First Citizens Bank & Trust Co. now owns 1,062 shares of the company’s stock valued at $349,000 after purchasing an additional 198 shares in the last quarter. First Horizon Advisors Inc. boosted its position in shares of Trane Technologies by 7.2% during the second quarter. First Horizon Advisors Inc. now owns 4,430 shares of the company’s stock worth $1,457,000 after buying an additional 296 shares during the period. NatWest Group plc grew its holdings in shares of Trane Technologies by 8.9% during the second quarter. NatWest Group plc now owns 30,675 shares of the company’s stock worth $10,090,000 after buying an additional 2,515 shares in the last quarter. Finally, First Pacific Financial acquired a new stake in Trane Technologies in the 2nd quarter valued at approximately $870,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. UBS Group upped their price target on Trane Technologies from $330.00 to $375.00 and gave the stock a “buy” rating in a research report on Monday, June 3rd. Royal Bank of Canada raised their target price on shares of Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a research report on Thursday, August 1st. The Goldman Sachs Group boosted their price target on shares of Trane Technologies from $287.00 to $326.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Citigroup raised their price objective on Trane Technologies from $355.00 to $366.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Finally, JPMorgan Chase & Co. lifted their target price on Trane Technologies from $247.00 to $300.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Trane Technologies has a consensus rating of “Hold” and an average target price of $323.29.

Trane Technologies Stock Performance

Shares of TT traded up $4.97 during mid-day trading on Wednesday, reaching $352.64. The company’s stock had a trading volume of 115,042 shares, compared to its average volume of 1,120,431. The company has a current ratio of 1.17, a quick ratio of 0.74 and a debt-to-equity ratio of 0.62. The stock has a market cap of $79.82 billion, a P/E ratio of 37.14, a PEG ratio of 2.50 and a beta of 1.01. Trane Technologies plc has a 1-year low of $184.02 and a 1-year high of $353.44. The business has a 50-day simple moving average of $334.27 and a two-hundred day simple moving average of $313.12.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Wednesday, July 31st. The company reported $3.30 EPS for the quarter, beating the consensus estimate of $3.08 by $0.22. The firm had revenue of $5.31 billion for the quarter, compared to the consensus estimate of $5.13 billion. Trane Technologies had a net margin of 12.33% and a return on equity of 33.97%. The company’s quarterly revenue was up 12.8% on a year-over-year basis. During the same period in the previous year, the company earned $2.68 earnings per share. As a group, equities research analysts anticipate that Trane Technologies plc will post 10.83 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. Stockholders of record on Friday, September 6th will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend is Friday, September 6th. Trane Technologies’s dividend payout ratio is presently 35.90%.

Insider Transactions at Trane Technologies

In related news, CFO Christopher J. Kuehn sold 4,000 shares of the business’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $318.67, for a total value of $1,274,680.00. Following the completion of the sale, the chief financial officer now directly owns 61,293 shares in the company, valued at approximately $19,532,240.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO David S. Regnery sold 29,450 shares of Trane Technologies stock in a transaction that occurred on 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 of the company’s stock, valued at $42,708,902.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Christopher J. Kuehn sold 4,000 shares of the stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $318.67, for a total transaction of $1,274,680.00. Following the completion of the transaction, the chief financial officer now directly owns 61,293 shares of the company’s stock, valued at approximately $19,532,240.31. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 44,243 shares of company stock worth $14,216,550. 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.