Kestra Advisory Services LLC Boosts Stake in Trane Technologies plc $TT

Kestra Advisory Services LLC grew its holdings in Trane Technologies plc (NYSE:TT) by 14.2% during the 1st quarter, HoldingsChannel.com reports. The firm owned 26,934 shares of the company’s stock after buying an additional 3,348 shares during the period. Kestra Advisory Services LLC’s holdings in Trane Technologies were worth $11,224,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in Trane Technologies by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 20,020,321 shares of the company’s stock valued at $7,791,909,000 after buying an additional 192,270 shares during the period. State Street Corp increased its position in shares of Trane Technologies by 0.6% during the fourth quarter. State Street Corp now owns 10,113,123 shares of the company’s stock valued at $3,936,034,000 after acquiring an additional 61,393 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Trane Technologies by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 5,071,072 shares of the company’s stock valued at $1,964,896,000 after acquiring an additional 14,179 shares during the last quarter. Norges Bank purchased a new stake in shares of Trane Technologies in the 4th quarter valued at approximately $1,163,124,000. Finally, Nordea Investment Management AB lifted its holdings in shares of Trane Technologies by 2.9% in the 4th 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 during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Trane Technologies Price Performance

Shares of NYSE TT opened at $479.69 on Monday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.10 and a quick ratio of 0.77. The company has a market cap of $106.04 billion, a price-to-earnings ratio of 37.10, a price-to-earnings-growth ratio of 2.21 and a beta of 1.19. The stock’s 50-day moving average is $470.03 and its two-hundred day moving average is $444.39. Trane Technologies plc has a 1-year low of $348.06 and a 1-year high of $505.87.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Friday, May 1st. The company reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.10. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The business had revenue of $4.97 billion during the quarter, compared to analysts’ expectations of $4.81 billion. During the same quarter last year, the business posted $2.45 EPS. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. Analysts forecast that Trane Technologies plc will post 14.9 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The company 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 of this dividend is Friday, September 4th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 0.9%. Trane Technologies’s dividend payout ratio is currently 32.48%.

Insider Buying and Selling at Trane Technologies

In other news, insider Donald E. Simmons sold 4,593 shares of Trane Technologies stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $500.00, for a total transaction of $2,296,500.00. Following the completion of the sale, the insider directly owned 3,819 shares of the company’s stock, valued at approximately $1,909,500. The trade was a 54.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.43% of the company’s stock.

Wall Street Analysts Forecast Growth

TT has been the subject of several research reports. Royal Bank Of Canada lifted their target price on shares of Trane Technologies from $440.00 to $501.00 and gave the company a “sector perform” rating in a report on Friday, May 1st. Evercore initiated coverage on Trane Technologies in a research note on Monday, April 13th. They set an “outperform” rating and a $535.00 price target on the stock. KeyCorp raised their price target on Trane Technologies from $525.00 to $555.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. BNP Paribas Exane assumed coverage on Trane Technologies in a research note on Tuesday, April 14th. They issued an “outperform” rating and a $550.00 price objective for the company. Finally, Citigroup increased their target price on Trane Technologies from $525.00 to $570.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. 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 issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $512.50.

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.