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

NewEdge Wealth LLC decreased its position in Trane Technologies plc (NYSE:TT) by 28.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor 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 filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC raised its stake in shares of Trane Technologies by 64.0% in the 4th quarter. Farther Finance Advisors LLC now owns 7,478 shares of the company’s stock valued at $2,911,000 after acquiring an additional 2,917 shares in the last quarter. Dara Capital US Inc. acquired a new stake in Trane Technologies in the 4th quarter worth approximately $966,000. ProCore Advisors LLC bought a new stake in Trane Technologies during the fourth quarter worth approximately $939,000. Horizon Investments LLC grew its holdings in Trane Technologies by 115.4% during the fourth quarter. Horizon Investments LLC now owns 30,560 shares of the company’s stock valued at $11,894,000 after purchasing an additional 16,370 shares during the last quarter. Finally, Buffalo Business & Estate Services Ltd. acquired a new position in Trane Technologies during the fourth quarter valued at approximately $4,325,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Trading Up 0.0%

Shares of Trane Technologies stock opened at $481.09 on Monday. Trane Technologies plc has a 1 year low of $348.06 and a 1 year high of $505.87. The company’s fifty day simple moving average is $470.13 and its 200-day simple moving average is $450.29. The company has a market cap of $106.34 billion, a price-to-earnings ratio of 37.21, a PEG ratio of 2.21 and a beta of 1.19. The company has a current ratio of 1.10, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46.

Trane Technologies (NYSE:TT) last released its earnings results on Friday, May 1st. The company reported $2.63 EPS for the quarter, beating the consensus estimate of $2.53 by $0.10. The firm had revenue of $4.97 billion during the quarter, compared to analysts’ expectations of $4.81 billion. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.45 EPS. As a group, sell-side analysts expect that Trane Technologies plc will post 14.89 EPS for the current year.

Trane Technologies Dividend Announcement

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

Insiders Place Their Bets

In related news, insider Donald E. Simmons sold 4,593 shares of Trane Technologies stock in a transaction dated 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 sale, the insider directly owned 3,819 shares of the company’s stock, valued at $1,909,500. This trade represents a 54.60% decrease in their ownership of the stock. The transaction 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 currently owned by company insiders.

Wall Street Analyst Weigh In

TT has been the subject of a number of analyst reports. Sanford C. Bernstein set a $555.00 price objective on shares of Trane Technologies in a research note on Thursday, July 9th. Weiss Ratings reiterated a “buy (b)” rating on shares of Trane Technologies in a research note on Friday, July 17th. JPMorgan Chase & Co. lifted their target price on shares of Trane Technologies from $460.00 to $476.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Citigroup boosted their target price on shares of Trane Technologies from $525.00 to $570.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Finally, Evercore assumed coverage on shares of Trane Technologies in a report on Monday, April 13th. They set an “outperform” rating and a $535.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Trane Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $516.67.

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.