Allworth Financial LP Purchases 13,870 Shares of Trane Technologies plc $TT

Allworth Financial LP raised its position in Trane Technologies plc (NYSE:TT - Free Report) by 301.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,467 shares of the company's stock after purchasing an additional 13,870 shares during the quarter. Allworth Financial LP's holdings in Trane Technologies were worth $7,188,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of TT. Brighton Jones LLC increased its stake in shares of Trane Technologies by 60.0% in the fourth quarter. Brighton Jones LLC now owns 6,194 shares of the company's stock valued at $2,288,000 after buying an additional 2,323 shares during the period. Sivia Capital Partners LLC grew its stake in Trane Technologies by 22.4% during the second quarter. Sivia Capital Partners LLC now owns 1,665 shares of the company's stock worth $728,000 after purchasing an additional 305 shares during the period. Schnieders Capital Management LLC. acquired a new stake in Trane Technologies during the second quarter worth approximately $227,000. Nebula Research & Development LLC grew its stake in Trane Technologies by 178.0% during the second quarter. Nebula Research & Development LLC now owns 2,371 shares of the company's stock worth $1,037,000 after purchasing an additional 1,518 shares during the period. Finally, Treasurer of the State of North Carolina grew its stake in Trane Technologies by 0.5% during the second quarter. Treasurer of the State of North Carolina now owns 104,140 shares of the company's stock worth $45,552,000 after purchasing an additional 497 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Trane Technologies Stock Down 3.1%

Shares of NYSE:TT opened at $466.65 on Friday. The stock has a market cap of $103.15 billion, a price-to-earnings ratio of 36.09, a PEG ratio of 2.22 and a beta of 1.25. The company has a quick ratio of 0.77, a current ratio of 1.10 and a debt-to-equity ratio of 0.46. Trane Technologies plc has a 12-month low of $348.06 and a 12-month high of $503.47. The business's 50 day moving average is $450.17 and its 200 day moving average is $428.86.

Trane Technologies (NYSE:TT - Get Free Report) last announced its earnings results on Friday, May 1st. The company reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.10. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The company had revenue of $4.97 billion for the quarter, compared to analysts' expectations of $4.81 billion. During the same quarter in the previous year, the firm earned $2.45 earnings per share. Trane Technologies's quarterly revenue was up 6.0% on a year-over-year basis. On average, sell-side analysts forecast that Trane Technologies plc will post 14.87 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, June 5th will be given a $1.05 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $4.20 annualized dividend and a yield of 0.9%. Trane Technologies's payout ratio is currently 32.48%.

Insiders Place Their Bets

In other Trane Technologies news, insider Donald E. Simmons sold 4,593 shares of the business's stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $500.00, for a total value of $2,296,500.00. Following the transaction, the insider owned 3,819 shares of the company's stock, valued at approximately $1,909,500. The trade was a 54.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Elizabeth A. Elwell sold 635 shares of the business's stock in a transaction on Friday, March 6th. The stock was sold at an average price of $422.70, for a total value of $268,414.50. Following the completion of the transaction, the chief accounting officer directly owned 7,100 shares in the company, valued at approximately $3,001,170. This represents a 8.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 53,654 shares of company stock worth $23,269,523 in the last ninety days. Company insiders own 0.14% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on TT. Evercore began coverage on Trane Technologies in a research note on Monday, April 13th. They set an "outperform" rating and a $535.00 target price for the company. Oppenheimer raised their target price on Trane Technologies from $460.00 to $468.00 and gave the stock an "outperform" rating in a research note on Friday, January 30th. BNP Paribas Exane assumed coverage on shares of Trane Technologies in a report on Tuesday, April 14th. They issued an "outperform" rating and a $550.00 price target for the company. Royal Bank Of Canada upped their price objective on shares of Trane Technologies from $440.00 to $501.00 and gave the company a "sector perform" rating in a report on Friday, May 1st. Finally, KeyCorp upped their price objective on shares of Trane Technologies from $525.00 to $555.00 and gave the company an "overweight" rating in a report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $506.56.

About Trane Technologies

Trane Technologies NYSE: TT is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.