Atria Wealth Solutions Inc. Has $4.40 Million Stake in Trane Technologies plc (NYSE:TT)

Key Points

• Atria Wealth Solutions Inc. reduced its stake in Trane Technologies plc by 10.1% in the first quarter, now holding 13,066 shares valued at approximately $4.4 million.
• Several hedge funds have shifted their positions in Trane Technologies, with WFA Asset Management Corp. increasing its stake by 208.3% during the same period.
• Analysts have varied outlooks on Trane Technologies' stock, with upgrades to price targets from firms like Goldman Sachs and Barclays, while maintaining a consensus rating of "Hold" with a target price of $458.60.

Atria Wealth Solutions Inc. decreased its stake in Trane Technologies plc (NYSE:TT - Free Report) by 10.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,066 shares of the company's stock after selling 1,463 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in Trane Technologies were worth $4,403,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of TT. GAMMA Investing LLC raised its stake in Trane Technologies by 35,458.2% during the first quarter. GAMMA Investing LLC now owns 2,015,792 shares of the company's stock worth $679,161,000 after purchasing an additional 2,010,123 shares during the period. Northern Trust Corp raised its stake in Trane Technologies by 20.1% during the fourth quarter. Northern Trust Corp now owns 2,567,527 shares of the company's stock worth $948,316,000 after purchasing an additional 429,953 shares during the period. Pictet Asset Management Holding SA raised its stake in Trane Technologies by 27.3% during the first quarter. Pictet Asset Management Holding SA now owns 1,915,630 shares of the company's stock worth $645,343,000 after purchasing an additional 410,734 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Trane Technologies during the fourth quarter worth about $147,251,000. Finally, BNP Paribas Financial Markets purchased a new stake in shares of Trane Technologies in the 4th quarter valued at approximately $137,999,000. Institutional investors and hedge funds own 82.97% of the company's stock.

Trane Technologies Stock Up 0.5%

Shares of NYSE TT traded up $1.98 during trading on Friday, reaching $430.09. 755,558 shares of the stock were exchanged, compared to its average volume of 1,346,768. The business's 50-day moving average price is $435.42 and its 200 day moving average price is $389.90. Trane Technologies plc has a twelve month low of $298.15 and a twelve month high of $476.18. The company has a quick ratio of 0.76, a current ratio of 1.10 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $95.70 billion, a price-to-earnings ratio of 34.11, a price-to-earnings-growth ratio of 2.68 and a beta of 1.09.

Trane Technologies (NYSE:TT - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $3.88 earnings per share for the quarter, beating the consensus estimate of $3.79 by $0.09. The firm had revenue of $5.75 billion during the quarter, compared to analyst estimates of $5.77 billion. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. The firm's revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.30 earnings per share. As a group, equities analysts forecast that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, September 5th. Trane Technologies's dividend payout ratio is presently 29.82%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Royal Bank Of Canada lifted their price objective on shares of Trane Technologies from $463.00 to $467.00 and gave the company a "sector perform" rating in a report on Thursday, July 31st. JPMorgan Chase & Co. boosted their price target on shares of Trane Technologies from $334.00 to $400.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Barclays boosted their price target on shares of Trane Technologies from $480.00 to $495.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Stephens upgraded shares of 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. Finally, Wells Fargo & Company boosted their price objective on shares of Trane Technologies from $370.00 to $410.00 and gave the stock an "underweight" rating in a research report on Tuesday, July 1st. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $458.60.

About Trane Technologies

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.