NewEdge Wealth LLC Raises Stock Holdings in Trane Technologies plc $TT

NewEdge Wealth LLC raised its holdings in Trane Technologies plc (NYSE:TT) by 44.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,286 shares of the company’s stock after purchasing an additional 1,312 shares during the period. NewEdge Wealth LLC’s holdings in Trane Technologies were worth $1,668,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. United Community Bank lifted its holdings in Trane Technologies by 134.4% during the third quarter. United Community Bank now owns 75 shares of the company’s stock valued at $32,000 after purchasing an additional 43 shares in the last quarter. JPL Wealth Management LLC purchased a new stake in shares of Trane Technologies during the third quarter worth about $32,000. KERR FINANCIAL PLANNING Corp acquired a new position in shares of Trane Technologies during the 3rd quarter worth about $42,000. Hantz Financial Services Inc. lifted its stake in Trane Technologies by 58.2% in the 3rd quarter. Hantz Financial Services Inc. now owns 106 shares of the company’s stock valued at $45,000 after buying an additional 39 shares in the last quarter. Finally, Key Financial Inc boosted its holdings in Trane Technologies by 833.3% in the 3rd quarter. Key Financial Inc now owns 112 shares of the company’s stock worth $48,000 after buying an additional 100 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

TT has been the subject of a number of research analyst reports. Evercore started coverage on Trane Technologies in a 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 stock a “buy” rating in a research report on Friday, May 1st. KeyCorp increased their price objective on Trane Technologies from $525.00 to $555.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Royal Bank Of Canada raised their price objective on Trane Technologies from $440.00 to $501.00 and gave the company a “sector perform” rating in a report on Friday, May 1st. Finally, Oppenheimer upped their target price on shares of Trane Technologies from $460.00 to $468.00 and gave the stock an “outperform” rating in a report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $505.56.

Trane Technologies Stock Performance

Shares of Trane Technologies stock opened at $470.52 on Thursday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.10. The business’s 50 day moving average price is $449.02 and its 200 day moving average price is $428.20. The company has a market cap of $104.01 billion, a price-to-earnings ratio of 36.39, a PEG ratio of 2.16 and a beta of 1.25. Trane Technologies plc has a one year low of $348.06 and a one year high of $503.47.

Trane Technologies (NYSE:TT) last issued its earnings results on Friday, May 1st. The company reported $2.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.10. The business had revenue of $4.97 billion during the quarter, compared to the consensus estimate of $4.81 billion. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The company’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period last year, the company earned $2.45 EPS. On average, research analysts predict that Trane Technologies plc will post 14.87 EPS for the current year.

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, June 5th will be paid a dividend of $1.05 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $4.20 dividend on an annualized basis and a yield of 0.9%. Trane Technologies’s payout ratio is 32.48%.

Insider Activity

In related news, CAO Elizabeth A. Elwell sold 635 shares of the company’s stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $422.70, for a total value of $268,414.50. Following the transaction, the chief accounting officer directly owned 7,100 shares in the company, valued at approximately $3,001,170. This represents a 8.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Christopher J. Kuehn sold 8,619 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer owned 60,576 shares of the company’s stock, valued at $27,259,200. The trade was a 12.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 53,654 shares of company stock valued at $23,269,523. Company 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.