Avalon Trust Co Has $2.81 Million Stock Holdings in Trane Technologies plc (NYSE:TT)

Avalon Trust Co trimmed its position in Trane Technologies plc (NYSE:TT) by 5.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,340 shares of the company’s stock after selling 480 shares during the quarter. Avalon Trust Co’s holdings in Trane Technologies were worth $2,810,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its holdings in shares of Trane Technologies by 60.0% during the 4th quarter. Brighton Jones LLC now owns 6,194 shares of the company’s stock worth $2,288,000 after purchasing an additional 2,323 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Trane Technologies during the 4th quarter worth $131,000. PAX Financial Group LLC grew its holdings in shares of Trane Technologies by 17.4% during the 4th quarter. PAX Financial Group LLC now owns 858 shares of the company’s stock worth $317,000 after purchasing an additional 127 shares in the last quarter. Dynamic Technology Lab Private Ltd grew its holdings in shares of Trane Technologies by 60.9% during the 4th quarter. Dynamic Technology Lab Private Ltd now owns 4,109 shares of the company’s stock worth $1,518,000 after purchasing an additional 1,556 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in shares of Trane Technologies by 8.8% during the 4th quarter. Envestnet Asset Management Inc. now owns 298,261 shares of the company’s stock worth $110,163,000 after purchasing an additional 24,157 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Trane Technologies Price Performance

Trane Technologies stock opened at $439.01 on Friday. The company has a current ratio of 1.10, a quick ratio of 0.74 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $97.68 billion, a PE ratio of 34.81, a P/E/G ratio of 2.83 and a beta of 1.09. Trane Technologies plc has a 12 month low of $298.15 and a 12 month high of $476.18. The stock has a 50-day moving average price of $435.56 and a two-hundred day moving average price of $388.63.

Trane Technologies (NYSE:TT) last posted its earnings results on Wednesday, July 30th. The company reported $3.88 EPS for the quarter, beating the consensus estimate of $3.79 by $0.09. The firm had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $5.77 billion. Trane Technologies had a return on equity of 36.61% and a net margin of 13.76%. The business’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period last year, the company earned $3.30 earnings per share. Analysts expect that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, September 5th. Trane Technologies’s dividend payout ratio (DPR) is 29.82%.

Analysts Set New Price Targets

TT has been the topic of several analyst reports. Northcoast Research lowered Trane Technologies from a “buy” rating to a “neutral” rating in a report on Friday. Stephens upgraded Trane Technologies from an “equal weight” rating to an “overweight” rating and set a $475.00 price objective for the company in a research report on Thursday, May 1st. Royal Bank Of Canada upped their price objective on Trane Technologies from $463.00 to $467.00 and gave the stock a “sector perform” rating in a research report on Thursday. The Goldman Sachs Group upped their price objective on Trane Technologies from $416.00 to $460.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 8th. Finally, Hsbc Global Res downgraded Trane Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $455.67.

Trane Technologies Profile

Trane Technologies plc, together with its subsidiaries, designs, manufactures, sells, and services of solutions for heating, ventilation, air conditioning, custom, and custom and transport refrigeration in Ireland and internationally. It offers air conditioners, exchangers, and handlers; airside and terminal devices; air sourced heat pumps, auxiliary power units; chillers; coils and condensers; gensets; dehumidifiers; ductless; furnaces; home automation products; humidifiers; indoor air quality assessments and related products; large and light commercial unitary products; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.