Cetera Investment Advisers Acquires 3,782 Shares of Trane Technologies plc (NYSE:TT)

Cetera Investment Advisers grew its stake in Trane Technologies plc (NYSE:TT - Free Report) by 6.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 58,990 shares of the company's stock after purchasing an additional 3,782 shares during the quarter. Cetera Investment Advisers' holdings in Trane Technologies were worth $21,788,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of TT. Norges Bank bought a new position in shares of Trane Technologies during the fourth quarter valued at approximately $1,117,816,000. Raymond James Financial Inc. bought a new position in Trane Technologies during the 4th quarter worth $611,322,000. Northern Trust Corp increased its position in Trane Technologies by 20.1% in 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 during the period. BNP Paribas Financial Markets bought a new stake in Trane Technologies in the fourth quarter valued at $137,999,000. Finally, Bank Julius Baer & Co. Ltd Zurich boosted its holdings in shares of Trane Technologies by 455.2% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 427,226 shares of the company's stock valued at $167,977,000 after acquiring an additional 350,277 shares during the period. Institutional investors own 82.97% of the company's stock.

Insider Buying and Selling

In related news, insider Donald E. Simmons sold 3,571 shares of the company's stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $380.00, for a total transaction of $1,356,980.00. Following the completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.38% of the company's stock.

Trane Technologies Stock Up 1.4%

NYSE TT traded up $6.02 on Tuesday, reaching $422.17. The stock had a trading volume of 1,348,875 shares, compared to its average volume of 1,341,307. The company has a market capitalization of $94.15 billion, a price-to-earnings ratio of 37.53, a P/E/G ratio of 2.50 and a beta of 1.14. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $424.72. The business has a 50 day moving average price of $351.40 and a 200 day moving average price of $372.31.

Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $0.25. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. The business had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.46 billion. During the same quarter in the previous year, the business earned $1.94 EPS. Trane Technologies's quarterly revenue was up 11.2% compared to the same quarter last year. On average, analysts forecast that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be issued a $0.94 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.76 annualized dividend and a yield of 0.89%. Trane Technologies's dividend payout ratio (DPR) is presently 31.28%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Robert W. Baird boosted their target price on shares of Trane Technologies from $360.00 to $396.00 and gave the company a "neutral" rating in a research note on Thursday, May 1st. Melius lowered Trane Technologies from a "buy" rating to a "hold" rating and set a $398.00 price objective for the company. in a report on Tuesday, January 28th. Royal Bank of Canada lifted their target price on Trane Technologies from $363.00 to $408.00 and gave the company a "sector perform" rating in a research note on Thursday, May 1st. UBS Group decreased their price target on Trane Technologies from $500.00 to $470.00 and set a "buy" rating for the company in a research note on Friday, January 31st. Finally, Hsbc Global Res upgraded shares of Trane Technologies from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 25th. One equities 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $421.07.

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.