NewEdge Wealth LLC Has $1.28 Million Position in Trane Technologies plc $TT

NewEdge Wealth LLC lessened its holdings in Trane Technologies plc (NYSE:TT) by 28.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,062 shares of the company’s stock after selling 1,224 shares during the quarter. NewEdge Wealth LLC’s holdings in Trane Technologies were worth $1,276,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TT. Bell Investment Advisors Inc boosted its position in shares of 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 acquiring an additional 22 shares in the last quarter. Fiduciary Family Office LLC increased its stake in Trane Technologies by 1.5% in the fourth quarter. Fiduciary Family Office LLC now owns 1,573 shares of the company’s stock valued at $612,000 after acquiring an additional 23 shares during the period. Foster Dykema Cabot & Partners LLC raised its position in Trane Technologies by 10.6% in the fourth quarter. Foster Dykema Cabot & Partners LLC now owns 239 shares of the company’s stock worth $93,000 after purchasing an additional 23 shares in the last quarter. Bridges Investment Management Inc. lifted its stake in Trane Technologies by 1.6% during the fourth quarter. Bridges Investment Management Inc. now owns 1,542 shares of the company’s stock worth $600,000 after purchasing an additional 24 shares during the period. Finally, Cornerstone Planning Group LLC lifted its stake in Trane Technologies by 14.5% during the first quarter. Cornerstone Planning Group LLC now owns 190 shares of the company’s stock worth $79,000 after purchasing an additional 24 shares during the period. 82.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on TT shares. Sanford C. Bernstein set a $555.00 price objective on Trane Technologies in a research note on Thursday, July 9th. Evercore initiated coverage on Trane Technologies in a research report on Monday, April 13th. They set an “outperform” rating and a $535.00 target price for the company. Citigroup boosted their price target on Trane Technologies from $525.00 to $570.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Barclays upped their price target on Trane Technologies from $507.00 to $585.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Trane Technologies in a research note on Friday, July 17th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $516.67.

Trane Technologies Price Performance

Shares of Trane Technologies stock opened at $481.09 on Monday. The company has a current ratio of 1.10, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $106.34 billion, a price-to-earnings ratio of 37.21, a P/E/G ratio of 2.21 and a beta of 1.19. 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 price is $470.13 and its two-hundred day moving average price is $450.29.

Trane Technologies (NYSE:TT) last posted 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. The company had revenue of $4.97 billion during the quarter, compared to analyst estimates of $4.81 billion. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The company’s revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the business posted $2.45 earnings per share. On average, equities analysts predict that Trane Technologies plc will post 14.89 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, September 4th will be given a $1.05 dividend. The ex-dividend date is Friday, September 4th. This represents a $4.20 annualized dividend and a yield of 0.9%. Trane Technologies’s payout ratio is presently 32.48%.

Insider Buying and Selling

In other Trane Technologies news, insider Donald E. Simmons sold 4,593 shares of the business’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $500.00, for a total value of $2,296,500.00. Following the transaction, the insider owned 3,819 shares of the company’s stock, valued at approximately $1,909,500. The trade was a 54.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.43% of the company’s stock.

Trane Technologies Company 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.