Navellier & Associates Inc. cut its holdings in Trane Technologies plc (NYSE:TT - Free Report) by 6.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 12,100 shares of the company's stock after selling 767 shares during the quarter. Navellier & Associates Inc.'s holdings in Trane Technologies were worth $4,077,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of TT. WFA Asset Management Corp grew its position in shares of 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 purchasing an additional 50 shares during the period. Minot DeBlois Advisors LLC acquired a new position in Trane Technologies during the 4th quarter worth approximately $26,000. Vermillion & White Wealth Management Group LLC acquired a new position in Trane Technologies during the 4th quarter worth approximately $28,000. Opal Wealth Advisors LLC acquired a new position in Trane Technologies during the 1st quarter worth approximately $31,000. Finally, Bogart Wealth LLC boosted its position in Trane Technologies by 97.9% during the 1st quarter. Bogart Wealth LLC now owns 93 shares of the company's stock worth $31,000 after acquiring an additional 46 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.
Trane Technologies Stock Performance
TT stock traded down $1.78 during trading hours on Monday, hitting $470.29. 441,150 shares of the stock were exchanged, compared to its average volume of 1,469,860. The company has a current ratio of 1.09, a quick ratio of 0.74 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $104.88 billion, a P/E ratio of 39.12, a P/E/G ratio of 3.07 and a beta of 1.15. The company has a 50-day simple moving average of $433.17 and a two-hundred day simple moving average of $386.23. Trane Technologies plc has a 12 month low of $298.15 and a 12 month high of $476.19.
Trane Technologies (NYSE:TT - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $2.45 earnings per share for the quarter, topping the consensus estimate of $2.20 by $0.25. The firm had revenue of $4.69 billion for the quarter, compared to analysts' expectations of $4.46 billion. Trane Technologies had a return on equity of 36.10% and a net margin of 13.47%. The company's quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.94 EPS. On average, analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.
Trane Technologies Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 0.80%. The ex-dividend date is Friday, September 5th. Trane Technologies's payout ratio is 31.28%.
Insiders Place Their Bets
In related news, insider Donald E. Simmons sold 3,571 shares of the firm's stock in a transaction on 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 transaction, the insider owned 3,593 shares in the company, valued at approximately $1,365,340. This trade represents a 49.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.38% of the stock is owned by insiders.
Analysts Set New Price Targets
A number of equities analysts have weighed in on TT shares. Robert W. Baird upped their price target on Trane Technologies from $396.00 to $450.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Hsbc Global Res raised Trane Technologies from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. Barclays increased their price objective on Trane Technologies from $476.00 to $480.00 and gave the company an "overweight" rating in a report on Wednesday, July 9th. Citigroup increased their price objective on Trane Technologies from $445.00 to $502.00 and gave the company a "buy" rating in a report on Monday, July 14th. Finally, Wells Fargo & Company increased their price objective on Trane Technologies from $370.00 to $410.00 and gave the company an "underweight" rating in a report on Tuesday, July 1st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $441.40.
Get Our Latest Analysis on Trane Technologies
Trane Technologies Profile
(
Free Report)
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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