Farther Finance Advisors LLC Increases Stock Holdings in Trane Technologies plc $TT

Farther Finance Advisors LLC lifted its position in Trane Technologies plc (NYSE:TT) by 64.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,478 shares of the company’s stock after buying an additional 2,917 shares during the quarter. Farther Finance Advisors LLC’s holdings in Trane Technologies were worth $2,911,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. JPMorgan Chase & Co. increased its holdings in shares of Trane Technologies by 10.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 15,525,010 shares of the company’s stock worth $6,550,975,000 after buying an additional 1,433,563 shares during the last quarter. Nordea Investment Management AB raised its stake in shares of Trane Technologies by 2.9% during the fourth quarter. Nordea Investment Management AB now owns 2,586,506 shares of the company’s stock worth $1,010,419,000 after acquiring an additional 72,998 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Trane Technologies by 9.2% during the third quarter. Bank of America Corp DE now owns 2,422,690 shares of the company’s stock worth $1,022,278,000 after acquiring an additional 203,766 shares in the last quarter. Legal & General Group Plc increased its stake in shares of Trane Technologies by 2.4% in the third quarter. Legal & General Group Plc now owns 1,880,221 shares of the company’s stock worth $793,378,000 after buying an additional 44,243 shares during the period. Finally, Invesco Ltd. increased its stake in shares of Trane Technologies by 4.1% in the third quarter. Invesco Ltd. now owns 1,776,055 shares of the company’s stock worth $749,424,000 after buying an additional 70,172 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. UBS Group cut their price target on shares of Trane Technologies from $544.00 to $520.00 and set a “buy” rating on the stock in a report on Monday, January 5th. BNP Paribas Exane started coverage on shares of Trane Technologies in a research note on Tuesday, April 14th. They issued an “outperform” rating and a $550.00 price target on the stock. Evercore started coverage on Trane Technologies in a research report on Monday, April 13th. They issued an “outperform” rating and a $535.00 target price for the company. Wells Fargo & Company boosted their target price on Trane Technologies from $375.00 to $400.00 and gave the stock an “underweight” rating in a research report on Friday, January 30th. Finally, Morgan Stanley lowered their price objective on shares of Trane Technologies from $550.00 to $535.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 13th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $491.47.

Trane Technologies Trading Up 3.4%

TT stock opened at $476.07 on Friday. Trane Technologies plc has a 1-year low of $318.08 and a 1-year high of $480.51. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.92. The company has a market capitalization of $105.37 billion, a price-to-earnings ratio of 36.68, a PEG ratio of 2.43 and a beta of 1.21. The business has a 50 day simple moving average of $443.97 and a two-hundred day simple moving average of $421.57.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Thursday, January 29th. The company reported $2.86 earnings per share for the quarter, topping the consensus estimate of $2.81 by $0.05. Trane Technologies had a return on equity of 36.34% and a net margin of 13.69%.The business had revenue of $5.14 billion during the quarter, compared to the consensus estimate of $5.09 billion. During the same period in the prior year, the company posted $2.61 EPS. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. Research analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 5th will be given a $1.05 dividend. The ex-dividend date is Friday, June 5th. This represents a $4.20 dividend on an annualized basis and a yield of 0.9%. Trane Technologies’s dividend payout ratio (DPR) is currently 32.36%.

Insider Buying and Selling

In related news, CEO David S. Regnery sold 36,045 shares of the firm’s stock in a transaction on Friday, March 6th. The stock was sold at an average price of $422.69, for a total value of $15,235,861.05. Following the completion of the sale, the chief executive officer directly owned 96,948 shares in the company, valued at $40,978,950.12. This trade represents a 27.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Christopher J. Kuehn sold 8,619 shares of the firm’s stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $450.00, for a total value of $3,878,550.00. Following the completion of the sale, the chief financial officer owned 60,576 shares of the company’s stock, valued at approximately $27,259,200. This represents a 12.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 57,997 shares of company stock valued at $25,107,014 in the last three months. Corporate insiders own 0.14% of the company’s stock.

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.