Ballentine Partners LLC reduced its stake in Trane Technologies plc (NYSE:TT – Free Report) by 14.2% in the 1st quarter, Holdings Channel.com reports. The firm owned 1,538 shares of the company’s stock after selling 255 shares during the period. Ballentine Partners LLC’s holdings in Trane Technologies were worth $283,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in TT. Vanguard Group Inc. increased 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 worth $2,769,040,000 after acquiring an additional 77,924 shares during the last quarter. Geode Capital Management LLC increased its stake in Trane Technologies by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 4,685,369 shares of the company’s stock worth $786,124,000 after acquiring an additional 115,545 shares during the last quarter. Norges Bank acquired a new stake in Trane Technologies during the fourth quarter worth $526,026,000. Morgan Stanley increased its stake in Trane Technologies by 21.1% during the fourth quarter. Morgan Stanley now owns 2,707,243 shares of the company’s stock worth $455,061,000 after acquiring an additional 471,969 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in Trane Technologies by 1.1% during the fourth quarter. Bank of America Corp DE now owns 2,515,129 shares of the company’s stock worth $422,768,000 after acquiring an additional 28,162 shares during the last quarter. Institutional investors and hedge funds own 81.23% of the company’s stock.
Analysts Set New Price Targets
Several research firms have issued reports on TT. Robert W. Baird cut their target price on Trane Technologies from $200.00 to $192.00 in a research note on Thursday, May 4th. Wells Fargo & Company lifted their price objective on Trane Technologies from $172.00 to $181.00 in a research note on Monday, July 10th. Oppenheimer began coverage on Trane Technologies in a research note on Monday, March 27th. They issued a “market performance” rating for the company. 888 reaffirmed a “maintains” rating on shares of Trane Technologies in a research note on Thursday, May 4th. Finally, Barclays lifted their price objective on Trane Technologies from $201.00 to $210.00 in a research note on Monday, July 10th. Three research analysts have rated the stock with a sell rating, seven have been given a hold rating and five have issued a buy rating to the company. According to MarketBeat, Trane Technologies currently has a consensus rating of “Hold” and a consensus target price of $187.25.
Insider Activity
In other news, EVP Paul A. Camuti sold 5,000 shares of the business’s stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $196.00, for a total value of $980,000.00. Following the completion of the sale, the executive vice president now directly owns 89,409 shares of the company’s stock, valued at approximately $17,524,164. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Mark Majocha sold 2,202 shares of the business’s stock in a transaction dated Tuesday, July 11th. The stock was sold at an average price of $194.28, for a total value of $427,804.56. Following the transaction, the chief accounting officer now owns 3,797 shares in the company, valued at approximately $737,681.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible via this hyperlink. 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 value of $980,000.00. Following the completion of the transaction, the executive vice president now owns 89,409 shares in the company, valued at approximately $17,524,164. The disclosure for this sale can be found here. Company insiders own 0.39% of the company’s stock.
Trane Technologies Stock Up 0.4 %
Shares of NYSE TT opened at $196.31 on Monday. The company has a market capitalization of $44.77 billion, a price-to-earnings ratio of 25.43, a price-to-earnings-growth ratio of 2.10 and a beta of 1.03. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.26 and a quick ratio of 0.77. The business has a 50-day moving average of $180.44 and a two-hundred day moving average of $180.15. Trane Technologies plc has a 1 year low of $125.79 and a 1 year high of $197.39.
Trane Technologies (NYSE:TT – Get Free Report) last announced its quarterly earnings results on Wednesday, May 3rd. The company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.08. The company had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.64 billion. Trane Technologies has a return on equity of 30.11% and a net margin of 11.06%. Trane Technologies’ revenue for the quarter was up 9.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.12 EPS. On average, analysts forecast that Trane Technologies plc will post 8.45 earnings per share for the current fiscal year.
Trane Technologies Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 1st will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.53%. The ex-dividend date is Thursday, August 31st. Trane Technologies’ payout ratio is currently 38.86%.
Trane Technologies Company 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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