Banque Transatlantique SA bought a new position in shares of Trane Technologies plc (NYSE:TT - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 51,350 shares of the company's stock, valued at approximately $19,274,000.
Other large investors have also recently made changes to their positions in the company. Ameritas Advisory Services LLC purchased a new stake in Trane Technologies during the 4th quarter worth about $468,000. HB Wealth Management LLC lifted its holdings in shares of Trane Technologies by 14.3% in the fourth quarter. HB Wealth Management LLC now owns 5,689 shares of the company's stock worth $2,101,000 after buying an additional 711 shares in the last quarter. Crossmark Global Holdings Inc. boosted its position in shares of Trane Technologies by 31.2% in the fourth quarter. Crossmark Global Holdings Inc. now owns 29,057 shares of the company's stock valued at $10,733,000 after acquiring an additional 6,910 shares during the period. Stonegate Investment Group LLC boosted its position in shares of Trane Technologies by 11.9% in the fourth quarter. Stonegate Investment Group LLC now owns 15,378 shares of the company's stock valued at $5,680,000 after acquiring an additional 1,633 shares during the period. Finally, U.S. Capital Wealth Advisors LLC grew its stake in Trane Technologies by 1,490.3% during the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 19,417 shares of the company's stock valued at $7,172,000 after acquiring an additional 18,196 shares in the last quarter. 82.97% of the stock is owned by institutional investors.
Trane Technologies Trading Down 0.4 %
NYSE TT traded down $1.47 during trading on Friday, hitting $404.18. 1,045,034 shares of the company's stock traded hands, compared to its average volume of 1,331,247. The stock has a fifty day moving average of $348.81 and a two-hundred day moving average of $372.37. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $422.00. The firm has a market cap of $90.14 billion, a P/E ratio of 35.93, a PEG ratio of 2.50 and a beta of 1.14. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88.
Trane Technologies (NYSE:TT - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share for the quarter, beating the consensus estimate of $2.20 by $0.25. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. The company had revenue of $4.69 billion during the quarter, compared to analysts' expectations of $4.46 billion. During the same period in the prior year, the business posted $1.94 EPS. Trane Technologies's quarterly revenue was up 11.2% compared to the same quarter last year. As a group, sell-side analysts expect that Trane Technologies plc will post 12.83 EPS for the current year.
Trane Technologies Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be issued a dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.93%. Trane Technologies's dividend payout ratio is currently 31.28%.
Insider Activity at Trane Technologies
In related news, insider Donald E. Simmons sold 3,571 shares of the stock in a transaction dated 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 completion of the transaction, the insider now directly owns 3,593 shares of the company's stock, valued at $1,365,340. This represents a 49.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO David S. Regnery sold 2,318 shares of Trane Technologies stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $358.17, for a total value of $830,238.06. Following the sale, the chief executive officer now directly owns 126,831 shares in the company, valued at approximately $45,427,059.27. The trade was a 1.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,977 shares of company stock worth $2,577,061 in the last 90 days. Company insiders own 0.38% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages have commented on TT. UBS Group cut their price target on shares of Trane Technologies from $500.00 to $470.00 and set a "buy" rating for the company in a report on Friday, January 31st. HSBC raised Trane Technologies from a "hold" rating to a "buy" rating and lifted their price objective for the company from $405.00 to $415.00 in a research note on Friday, April 25th. JPMorgan Chase & Co. upped their target price on Trane Technologies from $323.00 to $334.00 and gave the stock a "neutral" rating in a research note on Thursday, May 1st. Royal Bank of Canada lifted their price target 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. Finally, Stephens upgraded shares of Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 price objective on the stock in a research report on Thursday, May 1st. 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. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $421.07.
Read Our Latest Stock Report on Trane Technologies
Trane Technologies Profile
(
Free Report)
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.
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