DA Davidson & CO. trimmed its position in shares of Trane Technologies plc (NYSE:TT – Free Report) by 2.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,514 shares of the company’s stock after selling 135 shares during the period. DA Davidson & CO.’s holdings in Trane Technologies were worth $1,015,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of TT. Acadian Asset Management LLC bought a new stake in shares of Trane Technologies during the 1st quarter valued at $178,000. Blair William & Co. IL grew its stake in Trane Technologies by 3.0% during the first quarter. Blair William & Co. IL now owns 16,727 shares of the company’s stock valued at $2,554,000 after acquiring an additional 495 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new position in Trane Technologies during the first quarter valued at $219,000. Vanguard Group Inc. grew its stake in Trane Technologies by 0.4% during the first quarter. Vanguard Group Inc. now owns 18,133,851 shares of the company’s stock valued at $2,769,040,000 after acquiring an additional 77,924 shares in the last quarter. Finally, Mackenzie Financial Corp grew its stake in Trane Technologies by 3.8% during the first quarter. Mackenzie Financial Corp now owns 956,177 shares of the company’s stock valued at $146,008,000 after acquiring an additional 34,591 shares in the last quarter. 81.23% of the stock is currently owned by institutional investors.
Insider Activity at Trane Technologies
In other news, CAO Mark Majocha sold 2,202 shares of the business’s stock in a transaction dated Tuesday, July 11th. The shares were sold at an average price of $194.28, for a total value of $427,804.56. Following the completion of the sale, the chief accounting officer now owns 3,797 shares in the company, valued at approximately $737,681.16. The transaction was disclosed in a document filed with the SEC, which is available on the SEC website. In other news, CAO Mark Majocha sold 2,202 shares of the business’s stock in a transaction dated Tuesday, July 11th. The shares were sold at an average price of $194.28, for a total value of $427,804.56. Following the completion of the sale, the chief accounting officer now owns 3,797 shares in the company, valued at approximately $737,681.16. The transaction was disclosed in a document filed with the SEC, which is available on the SEC website. Also, EVP Paul A. Camuti sold 5,000 shares of the business’s stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $196.00, for a total transaction of $980,000.00. Following the completion of the sale, the executive vice president now owns 89,409 shares of the company’s stock, valued at approximately $17,524,164. The disclosure for this sale can be found here. 0.39% of the stock is currently owned by company insiders.
Trane Technologies Price Performance
TT stock opened at $196.31 on Friday. Trane Technologies plc has a 12 month low of $125.79 and a 12 month high of $197.39. The company has a 50-day moving average price of $180.44 and a 200-day moving average price of $179.99. The stock has a market cap of $44.77 billion, a PE ratio of 25.43, a P/E/G ratio of 2.08 and a beta of 1.03. The company has a current ratio of 1.26, a quick ratio of 0.77 and a debt-to-equity ratio of 0.74.
Trane Technologies (NYSE:TT – Get Free Report) last announced its quarterly earnings data on Wednesday, May 3rd. The company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.08. Trane Technologies had a net margin of 11.06% and a return on equity of 30.11%. The company had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.64 billion. During the same quarter last year, the business posted $1.12 EPS. The firm’s revenue for the quarter was up 9.2% on a year-over-year basis. Equities research analysts anticipate that Trane Technologies plc will post 8.45 earnings per share for the current year.
Trane Technologies Announces Dividends
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 1st will be issued a dividend of $0.75 per share. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $3.00 dividend on an annualized basis and a yield of 1.53%. Trane Technologies’ payout ratio is 38.86%.
Analysts Set New Price Targets
Several research firms recently weighed in on TT. Oppenheimer began coverage on shares of Trane Technologies in a research note on Monday, March 27th. They set a “market perform” rating for the company. The Goldman Sachs Group dropped their price objective on shares of Trane Technologies from $203.00 to $178.00 and set a “neutral” rating for the company in a research note on Friday, April 14th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Trane Technologies from $184.00 to $183.00 and set a “hold” rating for the company in a research note on Wednesday, April 12th. Wells Fargo & Company lifted their price objective on shares of Trane Technologies from $172.00 to $181.00 in a research note on Monday, July 10th. Finally, Robert W. Baird dropped their price objective on shares of Trane Technologies from $200.00 to $192.00 in a research note on Thursday, May 4th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Trane Technologies has an average rating of “Hold” and an average target price of $184.47.
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; generators; 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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