Western Financial Corp CA Makes New Investment in Trane Technologies plc (NYSE:TT)

Western Financial Corp CA purchased a new stake in Trane Technologies plc (NYSE:TT) in the 3rd quarter, according to its most recent filing with the SEC. The fund purchased 2,352 shares of the company’s stock, valued at approximately $914,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in TT. Trust Point Inc. grew its holdings in Trane Technologies by 3.1% in the 3rd quarter. Trust Point Inc. now owns 897 shares of the company’s stock valued at $349,000 after buying an additional 27 shares during the period. First Pacific Financial boosted its holdings in shares of Trane Technologies by 1.1% in the 3rd quarter. First Pacific Financial now owns 2,674 shares of the company’s stock valued at $1,039,000 after purchasing an additional 28 shares during the last quarter. PFG Private Wealth Management LLC grew its stake in shares of Trane Technologies by 4.7% during the 2nd quarter. PFG Private Wealth Management LLC now owns 706 shares of the company’s stock valued at $232,000 after buying an additional 32 shares during the period. Bell Investment Advisors Inc increased its holdings in shares of Trane Technologies by 26.5% during the 2nd quarter. Bell Investment Advisors Inc now owns 167 shares of the company’s stock worth $55,000 after buying an additional 35 shares during the last quarter. Finally, Procyon Advisors LLC raised its position in shares of Trane Technologies by 4.0% in the 3rd quarter. Procyon Advisors LLC now owns 927 shares of the company’s stock worth $360,000 after buying an additional 36 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on TT. Royal Bank of Canada upped 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. The Goldman Sachs Group raised their price target on shares of Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Wells Fargo & Company increased their price objective on shares of Trane Technologies from $320.00 to $360.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. Robert W. Baird lifted their target price on shares of Trane Technologies from $360.00 to $365.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Finally, Morgan Stanley assumed coverage on Trane Technologies in a research note on Friday, September 6th. They issued an “overweight” rating and a $425.00 target price for the company. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $373.58.

Trane Technologies Trading Down 0.4 %

Shares of Trane Technologies stock traded down $1.71 during trading on Monday, hitting $400.83. 349,680 shares of the company were exchanged, compared to its average volume of 1,094,132. The firm has a market capitalization of $90.73 billion, a P/E ratio of 42.89, a price-to-earnings-growth ratio of 2.75 and a beta of 1.01. The firm’s fifty day moving average price is $369.37 and its 200 day moving average price is $339.77. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.17 and a quick ratio of 0.84. Trane Technologies plc has a 1-year low of $184.02 and a 1-year high of $406.96.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $3.30 EPS for the quarter, topping analysts’ consensus estimates of $3.08 by $0.22. Trane Technologies had a net margin of 12.33% and a return on equity of 33.97%. The business had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.13 billion. During the same period last year, the business posted $2.68 earnings per share. The firm’s quarterly revenue was up 12.8% on a year-over-year basis. As a group, sell-side analysts expect 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 given a $0.84 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.36 dividend on an annualized basis and a yield of 0.84%. Trane Technologies’s dividend payout ratio is currently 35.90%.

Insider Buying and Selling at Trane Technologies

In other news, CEO David S. Regnery sold 29,450 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $321.25, for a total value of $9,460,812.50. Following the completion of the sale, the chief executive officer now directly owns 132,946 shares in the company, valued at $42,708,902.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, EVP Raymond D. Pittard sold 1,805 shares of the firm’s 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 directly 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David S. Regnery sold 29,450 shares of the business’s 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 in the company, valued at $42,708,902.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.