Executive Wealth Management LLC boosted its holdings in shares of Trane Technologies plc (NYSE:TT) by 3.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 35,853 shares of the company’s stock after acquiring an additional 1,140 shares during the quarter. Executive Wealth Management LLC’s holdings in Trane Technologies were worth $4,347,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of TT. State Street Corp bought a new position in Trane Technologies during the first quarter valued at approximately $879,895,000. Morgan Stanley bought a new position in shares of Trane Technologies in the first quarter valued at approximately $104,260,000. First Trust Advisors LP raised its position in shares of Trane Technologies by 662.3% in the second quarter. First Trust Advisors LP now owns 1,157,915 shares of the company’s stock valued at $103,031,000 after purchasing an additional 1,006,027 shares during the period. APG Asset Management N.V. bought a new position in shares of Trane Technologies in the first quarter valued at approximately $77,968,000. Finally, TD Asset Management Inc. bought a new position in shares of Trane Technologies in the second quarter valued at approximately $72,445,000. 81.03% of the stock is currently owned by hedge funds and other institutional investors.
Shares of TT stock traded down $2.92 on Monday, reaching $126.30. The company had a trading volume of 26,213 shares, compared to its average volume of 1,609,185. The company has a current ratio of 1.66, a quick ratio of 1.30 and a debt-to-equity ratio of 0.77. The stock has a market cap of $30.93 billion, a PE ratio of 32.55, a PEG ratio of 6.16 and a beta of 1.08. The company has a 50-day moving average of $123.37 and a 200-day moving average of $103.17. Trane Technologies plc has a 12 month low of $70.00 and a 12 month high of $146.85.
Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $1.27 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.50. The company had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $2.77 billion. Trane Technologies had a return on equity of 18.82% and a net margin of 6.76%. The firm’s revenue for the quarter was down 14.3% on a year-over-year basis. Sell-side analysts anticipate that Trane Technologies plc will post 3.9 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Friday, December 4th will be paid a $0.53 dividend. The ex-dividend date of this dividend is Thursday, December 3rd. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.68%. Trane Technologies’s dividend payout ratio (DPR) is presently 33.28%.
In related news, CFO Christopher J. Kuehn sold 6,646 shares of the business’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $120.04, for a total value of $797,785.84. Following the completion of the transaction, the chief financial officer now directly owns 33,185 shares in the company, valued at approximately $3,983,527.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Keith A. Sultana sold 8,496 shares of the business’s stock in a transaction that occurred on Thursday, September 24th. The shares were sold at an average price of $120.00, for a total value of $1,019,520.00. Following the completion of the transaction, the senior vice president now owns 16,679 shares of the company’s stock, valued at $2,001,480. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 93,213 shares of company stock valued at $11,090,051. 0.92% of the stock is currently owned by company insiders.
A number of brokerages recently issued reports on TT. Royal Bank of Canada boosted their target price on shares of Trane Technologies from $81.00 to $97.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 30th. Bank of America boosted their target price on shares of Trane Technologies from $135.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, October 16th. Zacks Investment Research downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $142.00 target price on the stock. in a research note on Thursday, October 8th. Citigroup lifted their price target on Trane Technologies from $106.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Finally, Morgan Stanley lifted their price target on Trane Technologies from $119.00 to $122.00 and gave the company an “overweight” rating in a report on Tuesday, October 13th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $111.27.
Trane Technologies Company Profile
Trane Technologies plc provides climate control solutions for buildings, homes, and transportation. It offers offers air conditioners, exchangers, and handlers; airside and terminal devices; auxiliary power units; chillers; coils and condensers; gensets; furnaces; heat pumps; home automation products; humidifiers; hybrid and non-diesel transport refrigeration, and ice energy storage solutions; indoor air quality; industrial refrigeration products; large and light commercial unitary products;motor replacements; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.
Further Reading: Mutual Funds
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