Sequoia Financial Advisors LLC Grows Stock Position in Trane Technologies plc $TT

Sequoia Financial Advisors LLC raised its position in Trane Technologies plc (NYSE:TT) by 18.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,672 shares of the company’s stock after acquiring an additional 1,205 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Trane Technologies were worth $3,197,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Bell Investment Advisors Inc grew its holdings in Trane Technologies by 12.2% during the 1st quarter. Bell Investment Advisors Inc now owns 203 shares of the company’s stock valued at $85,000 after purchasing an additional 22 shares in the last quarter. Fiduciary Family Office LLC boosted its position in Trane Technologies by 1.5% in the 4th quarter. Fiduciary Family Office LLC now owns 1,573 shares of the company’s stock valued at $612,000 after buying an additional 23 shares during the last quarter. Foster Dykema Cabot & Partners LLC boosted its position in Trane Technologies by 10.6% in the 4th quarter. Foster Dykema Cabot & Partners LLC now owns 239 shares of the company’s stock valued at $93,000 after buying an additional 23 shares during the last quarter. Bridges Investment Management Inc. grew its stake in shares of Trane Technologies by 1.6% during the fourth quarter. Bridges Investment Management Inc. now owns 1,542 shares of the company’s stock valued at $600,000 after acquiring an additional 24 shares in the last quarter. Finally, Bryn Mawr Trust Advisors LLC increased its position in shares of Trane Technologies by 1.2% during the fourth quarter. Bryn Mawr Trust Advisors LLC now owns 2,112 shares of the company’s stock worth $822,000 after acquiring an additional 25 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on TT. Sanford C. Bernstein set a $555.00 price target on Trane Technologies in a report on Thursday. BNP Paribas Exane initiated coverage on Trane Technologies in a research report on Tuesday, April 14th. They issued an “outperform” rating and a $550.00 target price on the stock. Royal Bank Of Canada raised their price target on shares of Trane Technologies from $440.00 to $501.00 and gave the stock a “sector perform” rating in a research report on Friday, May 1st. Barclays lifted their price target on shares of Trane Technologies from $507.00 to $585.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Finally, JPMorgan Chase & Co. increased their target price on Trane Technologies from $460.00 to $476.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $512.50.

Trane Technologies Trading Down 0.0%

Trane Technologies stock opened at $479.67 on Tuesday. Trane Technologies plc has a 1 year low of $348.06 and a 1 year high of $505.87. The firm’s 50-day moving average is $469.76 and its 200-day moving average is $444.99. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.10. The company has a market cap of $106.03 billion, a P/E ratio of 37.10, a PEG ratio of 2.21 and a beta of 1.19.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Friday, May 1st. The company reported $2.63 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.10. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The firm had revenue of $4.97 billion for the quarter, compared to analyst estimates of $4.81 billion. During the same quarter in the prior year, the business earned $2.45 earnings per share. Trane Technologies’s quarterly revenue was up 6.0% on a year-over-year basis. On average, equities analysts expect that Trane Technologies plc will post 14.9 earnings per share for the current year.

Trane Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 4th will be issued a $1.05 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $4.20 annualized dividend and a dividend yield of 0.9%. Trane Technologies’s dividend payout ratio (DPR) is 32.48%.

Insider Transactions at Trane Technologies

In related news, insider Donald E. Simmons sold 4,593 shares of the company’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $500.00, for a total transaction of $2,296,500.00. Following the completion of the transaction, the insider directly owned 3,819 shares in the company, valued at $1,909,500. This represents a 54.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is owned by corporate insiders.

Trane Technologies Profile

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.