Private Advisory Group LLC Makes New Investment in Trane Technologies plc (NYSE:TT)

Private Advisory Group LLC bought a new position in Trane Technologies plc (NYSE:TT) in the 3rd quarter, HoldingsChannel reports. The institutional investor bought 3,190 shares of the company’s stock, valued at approximately $1,240,000.

Several other large investors have also added to or reduced their stakes in TT. Swedbank AB purchased a new position in shares of Trane Technologies during the 1st quarter valued at about $206,211,000. 1832 Asset Management L.P. raised its holdings in shares of Trane Technologies by 7,363.1% during the 2nd quarter. 1832 Asset Management L.P. now owns 422,785 shares of the company’s stock valued at $139,067,000 after buying an additional 417,120 shares in the last quarter. TD Asset Management Inc raised its holdings in shares of Trane Technologies by 41.2% during the 1st quarter. TD Asset Management Inc now owns 1,060,632 shares of the company’s stock valued at $318,402,000 after buying an additional 309,738 shares in the last quarter. Point72 Asset Management L.P. raised its holdings in shares of Trane Technologies by 162.7% during the 2nd quarter. Point72 Asset Management L.P. now owns 447,705 shares of the company’s stock valued at $147,263,000 after buying an additional 277,274 shares in the last quarter. Finally, Sei Investments Co. raised its holdings in shares of Trane Technologies by 379.2% during the 1st quarter. Sei Investments Co. now owns 306,165 shares of the company’s stock valued at $91,909,000 after buying an additional 242,271 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. The Goldman Sachs Group raised their price objective on Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a report on Wednesday. Barclays lifted their price target on Trane Technologies from $394.00 to $425.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Royal Bank of Canada lifted their price target on Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 1st. Wells Fargo & Company lifted their price target on Trane Technologies from $320.00 to $360.00 and gave the stock an “underweight” rating in a research note on Monday. Finally, Morgan Stanley began coverage on Trane Technologies in a research note on Friday, September 6th. They issued an “overweight” rating and a $425.00 price target on the stock. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $367.33.

Trane Technologies Trading Down 1.6 %

NYSE TT opened at $393.46 on Friday. The company has a quick ratio of 0.84, a current ratio of 1.17 and a debt-to-equity ratio of 0.62. Trane Technologies plc has a twelve month low of $184.02 and a twelve month high of $400.23. The firm has a market capitalization of $88.79 billion, a PE ratio of 38.92, a P/E/G ratio of 2.75 and a beta of 1.01. The stock’s 50 day moving average is $360.15 and its 200 day moving average is $335.01.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Wednesday, July 31st. The company reported $3.30 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $5.13 billion. During the same period in the previous year, the company posted $2.68 earnings per share. The firm’s revenue was up 12.8% on a year-over-year basis. Research analysts forecast that Trane Technologies plc will post 10.88 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend is Friday, December 6th. Trane Technologies’s dividend payout ratio (DPR) is 33.23%.

Insiders Place Their Bets

In other news, EVP Raymond D. Pittard sold 1,805 shares of the company’s stock in a transaction on 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 directly owns 83,517 shares of the company’s stock, valued at $27,447,862.05. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO David S. Regnery sold 29,450 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $321.25, for a total transaction 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. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Raymond D. Pittard sold 1,805 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total value of $593,213.25. Following the sale, the executive vice president now owns 83,517 shares of the company’s stock, valued at approximately $27,447,862.05. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.38% of the company’s stock.

About Trane Technologies

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.