Lowe Brockenbrough & Co. Inc. Reduces Stock Holdings in Trane Technologies plc (NYSE:TT)

Lowe Brockenbrough & Co. Inc. trimmed its holdings in Trane Technologies plc (NYSE:TT) by 22.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 40,465 shares of the company’s stock after selling 11,450 shares during the quarter. Trane Technologies accounts for approximately 1.0% of Lowe Brockenbrough & Co. Inc.’s investment portfolio, making the stock its 24th biggest holding. Lowe Brockenbrough & Co. Inc.’s holdings in Trane Technologies were worth $15,730,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. DT Investment Partners LLC acquired a new stake in Trane Technologies during the third quarter valued at $36,000. Fortitude Family Office LLC increased its position in shares of Trane Technologies by 63.2% in the second quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock valued at $37,000 after buying an additional 43 shares in the last quarter. Triad Wealth Partners LLC acquired a new position in shares of Trane Technologies during the 2nd quarter worth approximately $39,000. Quarry LP acquired a new position in shares of Trane Technologies during the 2nd quarter worth approximately $39,000. Finally, Valley Wealth Managers Inc. purchased a new position in shares of Trane Technologies during the 2nd quarter valued at approximately $51,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Up 1.6 %

Shares of NYSE:TT opened at $376.15 on Friday. The business has a 50-day moving average price of $377.83 and a 200 day moving average price of $345.36. Trane Technologies plc has a 12-month low of $211.31 and a 12-month high of $406.96. The company has a current ratio of 1.22, a quick ratio of 0.84 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $84.89 billion, a price-to-earnings ratio of 34.89, a PEG ratio of 2.59 and a beta of 1.01.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, topping the consensus estimate of $3.23 by $0.14. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The firm had revenue of $5.44 billion for the quarter, compared to analyst estimates of $5.32 billion. During the same period in the prior year, the business posted $2.79 EPS. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. Sell-side analysts expect that Trane Technologies plc will post 10.89 EPS for the current year.

Trane Technologies Announces Dividend

The company 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. This represents a $3.36 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend is Friday, December 6th. Trane Technologies’s dividend payout ratio is currently 31.17%.

Insiders Place Their Bets

In related news, CEO David S. Regnery sold 29,450 shares of the company’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 transaction of $9,460,812.50. Following the sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Trane Technologies news, CEO David S. Regnery sold 29,450 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 132,946 shares in the company, valued at $42,708,902.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Raymond D. Pittard sold 1,805 shares of the firm’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 completion of the sale, the executive vice president now owns 83,517 shares in the company, valued at approximately $27,447,862.05. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

TT has been the subject of a number of research analyst reports. Wells Fargo & Company upped 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. The Goldman Sachs Group upped their price target on shares of Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Royal Bank of Canada lifted their price objective on Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a report on Thursday, August 1st. Hsbc Global Res cut Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday. Finally, Mizuho raised their target price on Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $380.15.

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.