Kestra Advisory Services LLC grew its stake in shares of Trane Technologies plc (NYSE:TT – Free Report) by 5.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,280 shares of the company’s stock after acquiring an additional 1,519 shares during the period. Kestra Advisory Services LLC’s holdings in Trane Technologies were worth $12,330,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Amundi lifted its stake in shares of Trane Technologies by 47.8% in the 1st quarter. Amundi now owns 2,174,396 shares of the company’s stock worth $906,158,000 after purchasing an additional 703,018 shares during the period. First Trust Advisors LP lifted its stake in Trane Technologies by 536.6% in the 1st quarter. First Trust Advisors LP now owns 532,138 shares of the company’s stock worth $221,763,000 after purchasing an additional 448,547 shares in the last quarter. Hsbc Holdings PLC boosted its stake in Trane Technologies by 215.9% during 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 during the last quarter. Sei Investments Co. grew its holdings in shares of Trane Technologies by 261.5% in the first quarter. Sei Investments Co. now owns 357,337 shares of the company’s stock valued at $148,915,000 after purchasing an additional 258,478 shares during the period. Finally, California Public Employees Retirement System grew its stake in shares of Trane Technologies by 51.9% in the 1st quarter. California Public Employees Retirement System now owns 686,691 shares of the company’s stock valued at $286,172,000 after buying an additional 234,666 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at Trane Technologies
In related news, CEO David Regnery sold 48,091 shares of the firm’s stock in a transaction dated Tuesday, October 6th. The stock was sold at an average price of $480.00, for a total transaction of $23,083,680.00. Following the transaction, the chief executive officer directly owned 96,951 shares of the company’s stock, valued at approximately $46,536,480. This trade represents a 33.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.43% of the company’s stock.
Analyst Ratings Changes
A number of brokerages have recently commented on TT. Sanford C. Bernstein lifted their price target on shares of Trane Technologies from $555.00 to $575.00 and gave the stock an “outperform” rating in a report on Friday, August 14th. Wall Street Zen cut shares of Trane Technologies from a “buy” rating to a “hold” rating in a research note on Sunday. Mizuho boosted their price target on Trane Technologies from $475.00 to $485.00 and gave the company a “neutral” rating in a report on Thursday, October 15th. Argus set a $500.00 target price on Trane Technologies in a research note on Friday, October 30th. Finally, Oppenheimer reiterated an “outperform” rating and set a $500.00 target price on shares of Trane Technologies in a research report on Friday, October 30th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $535.89.
Check Out Our Latest Report on TT
Trane Technologies Trading Up 4.8%
TT stock opened at $421.14 on Tuesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 1.12. The company has a market capitalization of $92.19 billion, a PE ratio of 28.00, a price-to-earnings-growth ratio of 1.93 and a beta of 1.19. Trane Technologies plc has a 52 week low of $348.06 and a 52 week high of $505.87. The company’s 50-day simple moving average is $445.14 and its 200 day simple moving average is $454.59.
Trane Technologies (NYSE:TT – Get Free Report) last announced its quarterly earnings data on Thursday, October 29th. The company reported $4.86 EPS for the quarter, topping the consensus estimate of $4.74 by $0.12. Trane Technologies had a net margin of 13.56% and a return on equity of 37.26%. The company had revenue of $6.76 billion during the quarter, compared to the consensus estimate of $6.50 billion. During the same quarter last year, the firm posted $3.88 EPS. The company’s quarterly revenue was up 17.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Trane Technologies plc will post 15.29 earnings per share for the current year.
Trane Technologies Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Friday, December 4th will be paid a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Friday, December 4th. Trane Technologies’s dividend payout ratio (DPR) is currently 29.66%.
About Trane Technologies
Trane Technologies plc is a global climate innovator that designs, manufactures, and services heating, ventilation, air conditioning, and refrigeration systems. Its products and services support commercial buildings, homes, and transportation applications, including temperature-controlled shipping.
The company’s portfolio includes the Trane brand of HVAC systems and building services, as well as Thermo King equipment for transport refrigeration and climate control. It also offers building controls, energy-efficiency solutions, system maintenance, and related services.
Trane Technologies was formed in 2020 when Ingersoll Rand completed the spin-off of its industrial businesses and adopted the Trane Technologies name.
Read More
- Five stocks we like better than Trane Technologies
- Wall Street May Be Making a Big Mistake With monday.com Stock
- Are These 2 Mid-Cap Growth Stocks Worth the Risk?
- Oklo Changes the Narrative: Does a Nuclear Stock Price Explosion Come Next?
- Cloudflare’s 20% Sell-Off May Have Created an Opening for Investors
Receive News & Ratings for Trane Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Trane Technologies and related companies with MarketBeat.com's FREE daily email newsletter.
