Trane Technologies plc $TT Holdings Increased by Gerber Kawasaki Wealth & Investment Management

Gerber Kawasaki Wealth & Investment Management boosted its position in Trane Technologies plc (NYSE:TT) by 13.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 15,155 shares of the company’s stock after purchasing an additional 1,816 shares during the quarter. Gerber Kawasaki Wealth & Investment Management’s holdings in Trane Technologies were worth $6,850,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Amundi grew its holdings in shares of Trane Technologies by 47.8% during the first quarter. Amundi now owns 2,174,396 shares of the company’s stock worth $906,158,000 after buying an additional 703,018 shares in the last quarter. First Trust Advisors LP lifted its stake in shares of Trane Technologies by 536.6% in the first quarter. First Trust Advisors LP now owns 532,138 shares of the company’s stock worth $221,763,000 after buying an additional 448,547 shares in the last quarter. Hsbc Holdings PLC lifted its stake in shares of Trane Technologies by 215.9% in the first quarter. Hsbc Holdings PLC now owns 653,423 shares of the company’s stock worth $271,950,000 after buying an additional 446,598 shares in the last quarter. Sei Investments Co. boosted its position in Trane Technologies by 261.5% during the first quarter. Sei Investments Co. now owns 357,337 shares of the company’s stock worth $148,915,000 after acquiring an additional 258,478 shares during the last quarter. Finally, California Public Employees Retirement System boosted its position in Trane Technologies by 51.9% during the first quarter. California Public Employees Retirement System now owns 686,691 shares of the company’s stock worth $286,172,000 after acquiring an additional 234,666 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Evercore increased their price objective on shares of Trane Technologies from $560.00 to $565.00 and gave the company an “outperform” rating in a report on Friday, July 31st. The Goldman Sachs Group upgraded Trane Technologies from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $548.00 to $565.00 in a report on Wednesday, October 14th. Wall Street Zen upgraded Trane Technologies from a “hold” rating to a “buy” rating in a research report on Saturday. Deutsche Bank Aktiengesellschaft dropped their price target on Trane Technologies from $515.00 to $499.00 and set a “hold” rating for the company in a research report on Wednesday, September 30th. Finally, Royal Bank Of Canada cut their price target on Trane Technologies from $502.00 to $486.00 and set a “sector perform” rating for the company in a report on Friday. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $535.89.

Insider Activity

In other news, CEO David Regnery sold 48,091 shares of the firm’s stock in a transaction that occurred on Tuesday, October 6th. The shares were sold at an average price of $480.00, for a total transaction of $23,083,680.00. Following the completion of the sale, the chief executive officer owned 96,951 shares in the company, valued at $46,536,480. This trade represents a 33.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is owned by corporate insiders.

Trane Technologies Trading Up 0.7%

Shares of TT stock opened at $412.70 on Tuesday. The company’s 50-day moving average price is $449.76 and its 200-day moving average price is $454.10. The company has a current ratio of 1.07, a quick ratio of 0.76 and a debt-to-equity ratio of 0.45. The stock has a market cap of $90.80 billion, a price-to-earnings ratio of 29.15, a PEG ratio of 2.09 and a beta of 1.15. Trane Technologies plc has a twelve month low of $348.06 and a twelve month high of $505.87.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Thursday, October 29th. The company reported $4.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.74 by $0.12. Trane Technologies had a net margin of 13.28% and a return on equity of 35.72%. The firm had revenue of $6.76 billion during the quarter, compared to analysts’ expectations of $6.50 billion. During the same period last year, the business earned $3.88 earnings per share. Trane Technologies’s revenue was up 17.7% compared to the same quarter last year. As a group, equities analysts predict that Trane Technologies plc will post 15.28 earnings per share for the current year.

Trane Technologies Announces Dividend

The company 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 $1.05 dividend. The ex-dividend date of this dividend is Friday, December 4th. This represents a $4.20 annualized dividend and a dividend yield of 1.0%. Trane Technologies’s dividend payout ratio is 29.66%.

Trane Technologies Profile

Trane Technologies plc is a global climate technology company that develops solutions for heating, ventilation, air conditioning, refrigeration and building management. Its products and services are designed to improve indoor comfort, energy efficiency and the sustainability of commercial, industrial, residential and institutional buildings.

The company operates through well-known brands including Trane, Thermo King and Frigoblock. Trane provides HVAC equipment, building controls, digital solutions, maintenance and energy services, while Thermo King and Frigoblock offer temperature-control systems for refrigerated transportation.