Trane Technologies plc (NYSE:TT) Shares Sold by Roberts Wealth Advisors LLC

Roberts Wealth Advisors LLC lessened its holdings in Trane Technologies plc (NYSE:TT) by 0.7% in the 1st quarter, HoldingsChannel.com reports. The firm owned 25,183 shares of the company’s stock after selling 190 shares during the quarter. Trane Technologies comprises approximately 2.6% of Roberts Wealth Advisors LLC’s portfolio, making the stock its 8th largest holding. Roberts Wealth Advisors LLC’s holdings in Trane Technologies were worth $8,485,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in TT. Norges Bank acquired a new position in Trane Technologies in the fourth quarter worth about $1,117,816,000. GAMMA Investing LLC raised its position in Trane Technologies by 35,458.2% in the first quarter. GAMMA Investing LLC now owns 2,015,792 shares of the company’s stock worth $679,161,000 after purchasing an additional 2,010,123 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Trane Technologies in the fourth quarter worth about $611,322,000. Northern Trust Corp increased its holdings in shares of Trane Technologies by 20.1% during the fourth quarter. Northern Trust Corp now owns 2,567,527 shares of the company’s stock worth $948,316,000 after buying an additional 429,953 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Trane Technologies during the fourth quarter worth approximately $147,251,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Activity at Trane Technologies

In related news, insider Donald E. Simmons sold 3,571 shares of the stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $380.00, for a total value of $1,356,980.00. Following the transaction, the insider now directly owns 3,593 shares in the company, valued at $1,365,340. This represents a 49.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.38% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

TT has been the subject of several recent analyst reports. Royal Bank Of Canada raised their price objective on shares of Trane Technologies from $363.00 to $408.00 and gave the stock a “sector perform” rating in a report on Thursday, May 1st. Citigroup raised their price objective on shares of Trane Technologies from $415.00 to $445.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. HSBC raised shares of Trane Technologies from a “hold” rating to a “buy” rating and raised their price objective for the stock from $405.00 to $415.00 in a report on Friday, April 25th. JPMorgan Chase & Co. raised their price objective on shares of Trane Technologies from $334.00 to $400.00 and gave the stock a “neutral” rating in a report on Friday, May 16th. Finally, Barclays dropped their price objective on shares of Trane Technologies from $500.00 to $475.00 and set an “overweight” rating for the company in a report on Monday, March 10th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $427.47.

Trane Technologies Price Performance

TT opened at $419.63 on Friday. Trane Technologies plc has a one year low of $298.15 and a one year high of $436.61. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.09 and a quick ratio of 0.74. The company’s 50 day simple moving average is $399.67 and its 200-day simple moving average is $377.18. The stock has a market capitalization of $93.59 billion, a P/E ratio of 34.91, a price-to-earnings-growth ratio of 2.76 and a beta of 1.16.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Wednesday, April 30th. The company reported $2.45 EPS for the quarter, beating the consensus estimate of $2.20 by $0.25. Trane Technologies had a net margin of 13.47% and a return on equity of 36.10%. The business had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $4.46 billion. During the same period in the prior year, the firm earned $1.94 earnings per share. Trane Technologies’s revenue was up 11.2% compared to the same quarter last year. Sell-side analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be issued a $0.94 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $3.76 annualized dividend and a yield of 0.90%. Trane Technologies’s dividend payout ratio is currently 31.28%.

Trane Technologies Company 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.