Kingswood Wealth Advisors LLC Lowers Stake in Trane Technologies plc (NYSE:TT)

Kingswood Wealth Advisors LLC lowered its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 5.4% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 11,339 shares of the company's stock after selling 653 shares during the period. Kingswood Wealth Advisors LLC's holdings in Trane Technologies were worth $3,820,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Minot DeBlois Advisors LLC acquired a new position in Trane Technologies in the 4th quarter valued at about $26,000. WFA Asset Management Corp grew its position in Trane Technologies by 208.3% in the 1st quarter. WFA Asset Management Corp now owns 74 shares of the company's stock valued at $25,000 after acquiring an additional 50 shares in the last quarter. Vermillion & White Wealth Management Group LLC acquired a new position in Trane Technologies in the 4th quarter valued at about $28,000. Opal Wealth Advisors LLC acquired a new position in Trane Technologies in the 1st quarter valued at about $31,000. Finally, Flagship Wealth Advisors LLC acquired a new position in Trane Technologies in the 4th quarter valued at about $37,000. Hedge funds and other institutional investors own 82.97% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on TT. JPMorgan Chase & Co. boosted their price objective on Trane Technologies from $334.00 to $400.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Wells Fargo & Company upped their price target on Trane Technologies from $330.00 to $370.00 and gave the company an "underweight" rating in a report on Thursday, May 1st. Stephens raised Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 price target for the company in a report on Thursday, May 1st. HSBC raised Trane Technologies from a "hold" rating to a "buy" rating and upped their price target for the company from $405.00 to $415.00 in a report on Friday, April 25th. Finally, Royal Bank Of Canada upped their price target on Trane Technologies from $363.00 to $408.00 and gave the company a "sector perform" rating in a report on Thursday, May 1st. 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, Trane Technologies currently has a consensus rating of "Moderate Buy" and a consensus target price of $427.47.

Trane Technologies Trading Down 1.1%

NYSE:TT opened at $421.86 on Wednesday. The stock has a fifty day moving average price of $396.52 and a two-hundred day moving average price of $376.85. The stock has a market capitalization of $94.08 billion, a price-to-earnings ratio of 35.10, a PEG ratio of 2.80 and a beta of 1.16. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.74 and a current ratio of 1.09. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $436.61.

Trane Technologies (NYSE:TT - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share for the quarter, beating analysts' consensus estimates of $2.20 by $0.25. Trane Technologies had a return on equity of 36.10% and a net margin of 13.47%. The business had revenue of $4.69 billion during the quarter, compared to analysts' expectations of $4.46 billion. During the same quarter last year, the business posted $1.94 earnings per share. The business's revenue for the quarter was up 11.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend is Friday, September 5th. Trane Technologies's payout ratio is currently 31.28%.

Insider Activity at Trane Technologies

In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of the firm's stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $380.00, for a total value of $1,356,980.00. Following the sale, the insider now directly owns 3,593 shares of the company's stock, valued at approximately $1,365,340. This trade represents a 49.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.38% of the company's stock.

Trane Technologies 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.

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