Welch & Forbes LLC Has $381,000 Stock Holdings in Trane Technologies plc (NYSE:TT)

Welch & Forbes LLC grew its holdings in Trane Technologies plc (NYSE:TT) by 6.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,205 shares of the company’s stock after acquiring an additional 140 shares during the quarter. Welch & Forbes LLC’s holdings in Trane Technologies were worth $381,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in TT. Trustcore Financial Services LLC acquired a new position in Trane Technologies in the 2nd quarter valued at $27,000. West Branch Capital LLC bought a new position in shares of Trane Technologies in the second quarter valued at approximately $28,000. Eagle Bay Advisors LLC purchased a new stake in shares of Trane Technologies during the second quarter worth $31,000. American National Bank purchased a new stake in shares of Trane Technologies in the third quarter worth $35,000. Finally, Lenox Wealth Advisors LLC raised its position in shares of Trane Technologies by 10,000.0% in the third quarter. Lenox Wealth Advisors LLC now owns 202 shares of the company’s stock worth $35,000 after buying an additional 200 shares in the last quarter. Institutional investors own 80.09% of the company’s stock.

Shares of NYSE TT opened at $195.48 on Thursday. Trane Technologies plc has a fifty-two week low of $137.08 and a fifty-two week high of $207.06. The firm’s 50-day simple moving average is $182.11 and its 200 day simple moving average is $187.01. The company has a quick ratio of 1.28, a current ratio of 1.62 and a debt-to-equity ratio of 0.69. The stock has a market cap of $46.43 billion, a P/E ratio of 35.10, a P/E/G ratio of 1.47 and a beta of 0.95.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Wednesday, November 3rd. The company reported $1.80 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.85 by ($0.05). Trane Technologies had a return on equity of 21.78% and a net margin of 9.82%. The company had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.79 billion. During the same period in the prior year, the business posted $1.72 EPS. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Trane Technologies plc will post 6.05 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 31st. Stockholders of record on Friday, December 3rd will be issued a dividend of $0.59 per share. The ex-dividend date of this dividend is Thursday, December 2nd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.21%. Trane Technologies’s dividend payout ratio (DPR) is presently 42.37%.

TT has been the subject of several recent research reports. Wells Fargo & Company started coverage on shares of Trane Technologies in a report on Thursday, October 7th. They set an “underweight” rating and a $163.00 target price for the company. Argus increased their target price on Trane Technologies from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, August 5th. Royal Bank of Canada decreased their price target on shares of Trane Technologies from $185.00 to $183.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 4th. Credit Suisse Group increased their price objective on shares of Trane Technologies from $196.00 to $214.00 and gave the stock an “outperform” rating in a research report on Thursday, August 5th. Finally, Morgan Stanley upped their target price on shares of Trane Technologies from $216.00 to $217.00 and gave the stock an “overweight” rating in a research note on Thursday, November 4th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $195.08.

In related news, insider Michael W. Lamach sold 126,724 shares of the company’s stock in a transaction on Wednesday, September 1st. The stock was sold at an average price of $197.45, for a total value of $25,021,653.80. Following the completion of the transaction, the insider now directly owns 257,340 shares in the company, valued at $50,811,783. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.74% of the stock is owned by insiders.

Trane Technologies Company Profile

Trane Technologies Plc engages in the provision of products, services, and solutions to enhance the quality, energy, and comfort of air in homes and buildings, transport and protect food and perishables and increase industrial productivity and efficiency. It operates through the following segments: Americas, EMEA, and Asia Pacific.

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Institutional Ownership by Quarter for Trane Technologies (NYSE:TT)

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