Dynamic Advisor Solutions LLC trimmed its holdings in shares of Trane Technologies plc (NYSE:TT – Get Rating) by 3.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,011 shares of the company’s stock after selling 170 shares during the quarter. Dynamic Advisor Solutions LLC’s holdings in Trane Technologies were worth $842,000 as of its most recent filing with the SEC.
Other hedge funds have also bought and sold shares of the company. Heritage Wealth Management LLC bought a new position in Trane Technologies in the 2nd quarter valued at about $31,000. Bartlett & Co. LLC boosted its stake in shares of Trane Technologies by 155.4% in the 4th quarter. Bartlett & Co. LLC now owns 189 shares of the company’s stock valued at $32,000 after purchasing an additional 115 shares in the last quarter. 1832 Asset Management LP acquired a new stake in shares of Trane Technologies in the 1st quarter valued at approximately $34,000. Accurate Wealth Management LLC acquired a new stake in shares of Trane Technologies in the 4th quarter valued at approximately $40,000. Finally, CI Investments Inc. boosted its stake in shares of Trane Technologies by 1,007.1% in the 3rd quarter. CI Investments Inc. now owns 310 shares of the company’s stock valued at $45,000 after purchasing an additional 282 shares in the last quarter. 81.47% of the stock is owned by institutional investors.
Insider Activity
In other Trane Technologies news, EVP Raymond D. Pittard sold 23,003 shares of the stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $170.42, for a total value of $3,920,171.26. Following the completion of the transaction, the executive vice president now owns 87,718 shares in the company, valued at $14,948,901.56. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Trane Technologies news, EVP Raymond D. Pittard sold 23,003 shares of the firm’s stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $170.42, for a total value of $3,920,171.26. Following the transaction, the executive vice president now directly owns 87,718 shares of the company’s stock, valued at $14,948,901.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Paul A. Camuti sold 7,950 shares of the firm’s stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $190.78, for a total value of $1,516,701.00. Following the completion of the transaction, the executive vice president now directly owns 89,021 shares in the company, valued at $16,983,426.38. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,970 shares of company stock valued at $6,927,921. 0.74% of the stock is currently owned by company insiders.
Trane Technologies Stock Up 0.7 %
Shares of NYSE TT opened at $182.91 on Friday. Trane Technologies plc has a one year low of $120.64 and a one year high of $196.22. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.12 and a quick ratio of 0.77. The firm’s 50 day simple moving average is $182.19 and its two-hundred day simple moving average is $170.38. The stock has a market capitalization of $41.90 billion, a P/E ratio of 24.42, a PEG ratio of 2.22 and a beta of 1.00.
Trane Technologies (NYSE:TT – Get Rating) last released its quarterly earnings data on Thursday, February 2nd. The company reported $1.82 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.18. The firm had revenue of $4.07 billion during the quarter, compared to analyst estimates of $3.94 billion. Trane Technologies has a return on equity of 29.14% and a net margin of 10.98%. The business’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.36 earnings per share. As a group, analysts expect that Trane Technologies plc will post 8.34 EPS for the current fiscal year.
Trane Technologies Increases Dividends
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Friday, March 3rd will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date is Thursday, March 2nd. This is a positive change from Trane Technologies’ previous quarterly dividend of $0.67. Trane Technologies’ dividend payout ratio is 40.05%.
Wall Street Analysts Forecast Growth
A number of research analysts have recently issued reports on the stock. Morgan Stanley boosted their price target on shares of Trane Technologies from $193.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, February 3rd. BMO Capital Markets lowered shares of Trane Technologies from an “outperform” rating to a “market perform” rating and set a $180.00 price objective for the company. in a research note on Wednesday, December 21st. Barclays lifted their price objective on shares of Trane Technologies from $190.00 to $193.00 and gave the company an “overweight” rating in a research note on Thursday, January 5th. Citigroup lifted their price objective on shares of Trane Technologies from $204.00 to $218.00 and gave the company a “buy” rating in a research note on Friday, February 3rd. Finally, Stephens lifted their price objective on shares of Trane Technologies from $170.00 to $185.00 and gave the company an “equal weight” rating in a research note on Monday, February 6th. Three equity research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $183.78.
About Trane Technologies
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Trane Technologies Plc is engaged in providing solutions to buildings, homes, and transportation. It operates through the following business segments: Americas, EMEA, and Asia Pacific. The Americas segment includes commercial heating and cooling systems, building controls, and energy services and solutions, residential heating and cooling, and transport refrigeration systems, and solutions in North America and Latin America regions.
See Also
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