Farther Finance Advisors LLC Has $2.91 Million Stock Holdings in Trane Technologies plc $TT

Key Points

• Farther Finance Advisors LLC increased its stake in Trane Technologies by 64.0% in Q4, now owning 7,478 shares valued at $2.91 million.
• Trane beat Q4 estimates with EPS of $2.86 versus $2.81 and revenue of $5.14 billion (up 5.6% year-over-year), and declared a quarterly dividend of $1.05 (annualized $4.20, yield 0.9%).
• Insiders sold 57,997 shares totaling about $25.1 million in the past 90 days, while institutional investors hold roughly 82.97% of the stock, including large positions like JPMorgan’s 15.5 million shares.

Farther Finance Advisors LLC lifted its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 64.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,478 shares of the company's stock after acquiring an additional 2,917 shares during the period. Farther Finance Advisors LLC's holdings in Trane Technologies were worth $2,911,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its holdings in Trane Technologies by 10.2% during the third quarter. JPMorgan Chase & Co. now owns 15,525,010 shares of the company's stock worth $6,550,975,000 after purchasing an additional 1,433,563 shares during the last quarter. Nordea Investment Management AB lifted its stake in Trane Technologies by 2.9% in the fourth quarter. Nordea Investment Management AB now owns 2,586,506 shares of the company's stock valued at $1,010,419,000 after acquiring an additional 72,998 shares during the last quarter. Bank of America Corp DE lifted its stake in Trane Technologies by 9.2% in the third quarter. Bank of America Corp DE now owns 2,422,690 shares of the company's stock valued at $1,022,278,000 after acquiring an additional 203,766 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of Trane Technologies by 2.4% during the 3rd quarter. Legal & General Group Plc now owns 1,880,221 shares of the company's stock worth $793,378,000 after buying an additional 44,243 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Trane Technologies by 4.1% during the 3rd quarter. Invesco Ltd. now owns 1,776,055 shares of the company's stock worth $749,424,000 after buying an additional 70,172 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Trane Technologies Stock Performance

TT opened at $476.07 on Friday. Trane Technologies plc has a 1-year low of $318.08 and a 1-year high of $480.51. The company has a current ratio of 1.25, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. The company has a market cap of $105.37 billion, a price-to-earnings ratio of 36.68, a PEG ratio of 2.43 and a beta of 1.21. The company's fifty day moving average price is $443.97 and its two-hundred day moving average price is $421.57.

Trane Technologies (NYSE:TT - Get Free Report) last posted its earnings results on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.81 by $0.05. Trane Technologies had a net margin of 13.69% and a return on equity of 36.34%. The firm had revenue of $5.14 billion during the quarter, compared to analyst estimates of $5.09 billion. During the same quarter in the prior year, the business posted $2.61 EPS. The business's revenue was up 5.6% compared to the same quarter last year. On average, analysts expect that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 5th will be given a dividend of $1.05 per share. The ex-dividend date is Friday, June 5th. This represents a $4.20 annualized dividend and a yield of 0.9%. Trane Technologies's dividend payout ratio is presently 32.36%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Barclays raised their target price on shares of Trane Technologies from $505.00 to $507.00 and gave the stock an "overweight" rating in a research note on Friday, January 30th. Morgan Stanley decreased their price target on shares of Trane Technologies from $550.00 to $535.00 and set an "overweight" rating on the stock in a report on Tuesday, January 13th. Royal Bank Of Canada lifted their price target on shares of Trane Technologies from $469.00 to $470.00 and gave the company a "sector perform" rating in a report on Friday, January 30th. Oppenheimer boosted their target price on shares of Trane Technologies from $460.00 to $468.00 and gave the stock an "outperform" rating in a report on Friday, January 30th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Trane Technologies in a report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $491.47.

Insider Activity at Trane Technologies

In related news, insider Donald E. Simmons sold 3,762 shares of the stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $422.70, for a total transaction of $1,590,197.40. Following the completion of the transaction, the insider owned 3,819 shares in the company, valued at approximately $1,614,291.30. This represents a 49.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Elizabeth A. Elwell sold 635 shares of the stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $422.70, for a total transaction of $268,414.50. Following the transaction, the chief accounting officer owned 7,100 shares of the company's stock, valued at approximately $3,001,170. The trade was a 8.21% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 57,997 shares of company stock worth $25,107,014 in the last ninety days. Corporate insiders own 0.14% of the company's stock.

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.

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