Raymond James & Associates trimmed its holdings in Trane Technologies plc (NYSE:TT - Free Report) by 1.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,022,382 shares of the company's stock after selling 13,906 shares during the period. Raymond James & Associates owned 0.45% of Trane Technologies worth $306,919,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently added to or reduced their stakes in the business. Accordant Advisory Group Inc acquired a new stake in Trane Technologies in the 1st quarter valued at about $215,000. American Institute for Advanced Investment Management LLP acquired a new stake in Trane Technologies in the 1st quarter valued at about $279,000. Strategic Advisors LLC acquired a new stake in Trane Technologies in the 1st quarter valued at about $221,000. First Trust Direct Indexing L.P. grew its stake in Trane Technologies by 9.9% in the 1st quarter. First Trust Direct Indexing L.P. now owns 7,131 shares of the company's stock valued at $2,141,000 after acquiring an additional 642 shares during the last quarter. Finally, Massachusetts Wealth Management boosted its stake in shares of Trane Technologies by 4.6% during the 1st quarter. Massachusetts Wealth Management now owns 6,270 shares of the company's stock worth $1,882,000 after purchasing an additional 275 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other Trane Technologies news, SVP Keith A. Sultana sold 1,983 shares of Trane Technologies stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $272.26, for a total value of $539,891.58. Following the completion of the transaction, the senior vice president now owns 42,575 shares of the company's stock, valued at $11,591,469.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Trane Technologies news, SVP Keith A. Sultana sold 1,983 shares of Trane Technologies stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $272.26, for a total value of $539,891.58. Following the completion of the transaction, the senior vice president now owns 42,575 shares of the company's stock, valued at $11,591,469.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Evan M. Turtz sold 2,821 shares of Trane Technologies stock in a transaction on Monday, March 4th. The stock was sold at an average price of $288.33, for a total transaction of $813,378.93. Following the completion of the transaction, the senior vice president now directly owns 20,729 shares of the company's stock, valued at approximately $5,976,792.57. The disclosure for this sale can be found here. Insiders sold a total of 29,874 shares of company stock valued at $8,462,825 over the last 90 days. 0.39% of the stock is owned by company insiders.
Trane Technologies Stock Up 1.7 %
NYSE:TT traded up $5.16 during trading hours on Friday, hitting $304.53. The stock had a trading volume of 961,790 shares, compared to its average volume of 833,800. The company has a current ratio of 1.13, a quick ratio of 0.78 and a debt-to-equity ratio of 0.57. Trane Technologies plc has a 1-year low of $162.04 and a 1-year high of $306.98. The business has a 50 day simple moving average of $292.22 and a two-hundred day simple moving average of $254.87. The company has a market cap of $69.15 billion, a PE ratio of 34.65, a price-to-earnings-growth ratio of 2.57 and a beta of 1.05.
Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings results on Thursday, February 1st. The company reported $2.17 earnings per share for the quarter, topping analysts' consensus estimates of $2.13 by $0.04. Trane Technologies had a net margin of 11.45% and a return on equity of 32.01%. The business had revenue of $4.42 billion during the quarter, compared to the consensus estimate of $4.43 billion. During the same quarter last year, the company earned $1.82 earnings per share. The business's quarterly revenue was up 8.6% compared to the same quarter last year. Analysts predict that Trane Technologies plc will post 10.2 EPS for the current year.
Trane Technologies Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date is Thursday, June 6th. Trane Technologies's dividend payout ratio is presently 38.23%.
Analysts Set New Price Targets
TT has been the topic of several analyst reports. Stephens raised their price target on shares of Trane Technologies from $235.00 to $280.00 and gave the stock an "equal weight" rating in a research note on Tuesday, February 6th. Citigroup raised their price target on shares of Trane Technologies from $309.00 to $355.00 and gave the stock a "buy" rating in a research note on Monday, April 8th. Barclays increased their price objective on shares of Trane Technologies from $286.00 to $325.00 and gave the stock an "overweight" rating in a report on Tuesday, April 2nd. The Goldman Sachs Group increased their price objective on shares of Trane Technologies from $253.00 to $287.00 and gave the stock a "neutral" rating in a report on Monday, February 5th. Finally, Royal Bank of Canada increased their price objective on shares of Trane Technologies from $231.00 to $246.00 and gave the stock a "sector perform" rating in a report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $251.83.
Read 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.
See Also
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