Trane Technologies plc (NYSE:TT) Shares Acquired by Confluence Wealth Services Inc.

Confluence Wealth Services Inc. increased its stake in shares of Trane Technologies plc (NYSE:TT) by 43.4% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 3,663 shares of the company’s stock after acquiring an additional 1,109 shares during the period. Confluence Wealth Services Inc.’s holdings in Trane Technologies were worth $1,424,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. DT Investment Partners LLC acquired a new stake in shares of Trane Technologies during the third quarter valued at about $36,000. Fortitude Family Office LLC boosted its holdings in 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 purchasing an additional 43 shares during the last quarter. Triad Wealth Partners LLC acquired a new stake in Trane Technologies during the 2nd quarter valued at approximately $39,000. Quarry LP purchased a new stake in Trane Technologies during the 2nd quarter worth approximately $39,000. Finally, Valley Wealth Managers Inc. acquired a new position in shares of Trane Technologies in the 2nd quarter valued at approximately $51,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. The Goldman Sachs Group raised 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. Hsbc Global Res lowered shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday. Morgan Stanley started coverage on shares of Trane Technologies in a research note on Friday, September 6th. They issued an “overweight” rating and a $425.00 target price on the stock. Barclays lifted their price target on Trane Technologies from $425.00 to $440.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Royal Bank of Canada upped their price objective 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. 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. According to MarketBeat.com, Trane Technologies has an average rating of “Hold” and an average target price of $380.15.

Trane Technologies Trading Up 1.6 %

NYSE:TT opened at $376.15 on Friday. The firm has a market capitalization of $84.64 billion, a P/E ratio of 34.89, a P/E/G ratio of 2.51 and a beta of 1.02. The business has a 50 day simple moving average of $377.83 and a 200 day simple moving average of $345.71. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.84. Trane Technologies plc has a 12-month low of $211.31 and a 12-month high of $406.96.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, beating 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 company had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $5.32 billion. During the same quarter in the previous year, the company posted $2.79 earnings per share. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. Equities research analysts predict that Trane Technologies plc will post 11.06 EPS for the current year.

Trane Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th will be paid a $0.84 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.36 annualized dividend and a dividend yield of 0.89%. Trane Technologies’s payout ratio is currently 31.17%.

Insider Transactions at Trane Technologies

In related news, CEO David S. Regnery sold 29,450 shares of the firm’s stock in a transaction that occurred on 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO David S. Regnery sold 29,450 shares of the company’s 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 completion of the sale, the chief executive officer now 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 transaction 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 firm’s stock in a transaction dated Wednesday, August 7th. The shares were 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 in the company, valued at approximately $27,447,862.05. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 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.