Kingswood Wealth Advisors LLC Reduces Stock Position in Trane Technologies plc (NYSE:TT)

Kingswood Wealth Advisors LLC cut its holdings in shares of Trane Technologies plc (NYSE:TT) by 5.4% during the 1st quarter, Holdings Channel.com reports. The firm owned 11,339 shares of the company’s stock after selling 653 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in Trane Technologies were worth $3,820,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Ethic Inc. grew its position in shares of Trane Technologies by 150.1% in the 4th quarter. Ethic Inc. now owns 24,883 shares of the company’s stock worth $9,190,000 after acquiring an additional 14,932 shares in the last quarter. Proficio Capital Partners LLC grew its position in shares of Trane Technologies by 28.3% in the 4th quarter. Proficio Capital Partners LLC now owns 685 shares of the company’s stock worth $253,000 after acquiring an additional 151 shares in the last quarter. Compass Capital Corp MA ADV acquired a new position in shares of Trane Technologies in the 4th quarter worth approximately $301,000. Brighton Jones LLC grew its position in shares of Trane Technologies by 60.0% in the 4th quarter. Brighton Jones LLC now owns 6,194 shares of the company’s stock worth $2,288,000 after acquiring an additional 2,323 shares in the last quarter. Finally, Beacon Pointe Advisors LLC boosted its position in Trane Technologies by 1.3% during the 4th quarter. Beacon Pointe Advisors LLC now owns 8,137 shares of the company’s stock valued at $3,005,000 after purchasing an additional 101 shares during the period. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. UBS Group boosted their price objective on Trane Technologies from $470.00 to $500.00 and gave the company a “buy” rating in a research report on Thursday, May 22nd. Royal Bank Of Canada boosted their price objective on Trane Technologies from $363.00 to $408.00 and gave the company a “sector perform” rating in a research report on Thursday, May 1st. Stephens upgraded Trane Technologies from an “equal weight” rating to an “overweight” rating and set a $475.00 price objective for the company in a research report on Thursday, May 1st. Hsbc Global Res upgraded Trane Technologies from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 25th. Finally, HSBC upgraded Trane Technologies from a “hold” rating to a “buy” rating and boosted their price objective for the company from $405.00 to $415.00 in a research report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Trane Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $427.47.

Trane Technologies Stock Down 1.1%

Shares of Trane Technologies stock opened at $421.86 on Wednesday. The stock’s fifty day moving average is $396.52 and its 200-day moving average is $376.85. The firm has a market capitalization of $94.08 billion, a PE ratio of 35.10, a price-to-earnings-growth ratio of 2.80 and a beta of 1.16. The company has a quick ratio of 0.74, a current ratio of 1.09 and a debt-to-equity ratio of 0.52. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $436.61.

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

Trane Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be issued a dividend of $0.94 per share. The ex-dividend date is Friday, September 5th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.89%. Trane Technologies’s dividend payout ratio is 31.28%.

Insider Activity

In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of the business’s stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $380.00, for a total value of $1,356,980.00. Following the transaction, the insider now owns 3,593 shares in the company, valued at $1,365,340. The trade was a 49.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.38% of the stock is currently owned by corporate insiders.

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.