Everett Harris & Co. CA Takes $228,000 Position in Trane Technologies plc (NYSE:TT)

Everett Harris & Co. CA acquired a new position in shares of Trane Technologies plc (NYSE:TT) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 586 shares of the company’s stock, valued at approximately $228,000.

Several other large investors also recently added to or reduced their stakes in TT. Perpetual Ltd purchased a new position in shares of Trane Technologies during the first quarter valued at $223,000. RFG Advisory LLC purchased a new position in Trane Technologies during the 1st quarter valued at about $326,000. &PARTNERS raised its holdings in shares of Trane Technologies by 6.7% during the first quarter. &PARTNERS now owns 989 shares of the company’s stock worth $297,000 after acquiring an additional 62 shares in the last quarter. Douglas Lane & Associates LLC bought a new stake in shares of Trane Technologies in the 1st quarter valued at approximately $225,000. Finally, International Assets Investment Management LLC increased its stake in shares of Trane Technologies by 7.0% during the 1st quarter. International Assets Investment Management LLC now owns 4,538 shares of the company’s stock worth $1,346,000 after purchasing an additional 297 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Trane Technologies Stock Up 0.6 %

TT opened at $402.54 on Friday. The company has a market capitalization of $91.12 billion, a P/E ratio of 43.01, a P/E/G ratio of 2.75 and a beta of 1.01. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.17 and a quick ratio of 0.84. The firm’s fifty day moving average price is $369.37 and its two-hundred day moving average price is $339.50. Trane Technologies plc has a fifty-two week low of $184.02 and a fifty-two week high of $406.96.

Trane Technologies (NYSE:TT) last issued its 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. The business had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.13 billion. Trane Technologies had a net margin of 12.33% and a return on equity of 33.97%. The firm’s revenue was up 12.8% on a year-over-year basis. During the same period in the previous year, the business earned $2.68 EPS. On average, analysts anticipate that Trane Technologies plc will post 10.88 EPS for the current year.

Trane Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.36 annualized dividend and a dividend yield of 0.83%. Trane Technologies’s dividend payout ratio (DPR) is presently 35.90%.

Wall Street Analysts Forecast Growth

Several research firms have commented on TT. Royal Bank of Canada increased their target price on shares of Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 1st. Morgan Stanley started coverage on shares of Trane Technologies in a research report on Friday, September 6th. They issued an “overweight” rating and a $425.00 price target on the stock. Barclays upped their price objective on shares of Trane Technologies from $394.00 to $425.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Robert W. Baird upped their price target on Trane Technologies from $360.00 to $365.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Finally, Stephens restated an “equal weight” rating and issued a $350.00 price objective on shares of Trane Technologies in a research note on Monday, August 5th. One investment 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. Based on data from MarketBeat.com, Trane Technologies has a consensus rating of “Hold” and a consensus price target of $373.58.

Insider Activity

In related news, CEO David S. Regnery sold 29,450 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 132,946 shares in the company, valued at $42,708,902.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO David S. Regnery sold 29,450 shares of the 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 ownership of the stock. The transaction 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 business’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 83,517 shares of the company’s stock, valued at $27,447,862.05. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.38% of the stock is owned by corporate insiders.

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.