Trane Technologies plc $TT Shares Sold by Walter Public Investments Inc.

Walter Public Investments Inc. lessened its holdings in Trane Technologies plc (NYSE:TT) by 16.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,161 shares of the company’s stock after selling 5,817 shares during the quarter. Trane Technologies accounts for 3.3% of Walter Public Investments Inc.’s investment portfolio, making the stock its 10th biggest position. Walter Public Investments Inc.’s holdings in Trane Technologies were worth $13,632,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Toth Financial Advisory Corp boosted its position in Trane Technologies by 10.6% during the third quarter. Toth Financial Advisory Corp now owns 239 shares of the company’s stock valued at $108,000 after buying an additional 23 shares during the period. ZWJ Investment Counsel Inc. grew its stake in shares of Trane Technologies by 1.9% during the third quarter. ZWJ Investment Counsel Inc. now owns 1,257 shares of the company’s stock valued at $568,000 after buying an additional 23 shares during the last quarter. Cornerstone Planning Group LLC increased its holdings in shares of Trane Technologies by 14.5% in the first quarter. Cornerstone Planning Group LLC now owns 190 shares of the company’s stock worth $79,000 after buying an additional 24 shares during the period. NFSG Corp increased its holdings in shares of Trane Technologies by 4.8% in the first quarter. NFSG Corp now owns 546 shares of the company’s stock worth $228,000 after buying an additional 25 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC lifted its stake in shares of Trane Technologies by 15.0% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 192 shares of the company’s stock valued at $80,000 after acquiring an additional 25 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on TT shares. JPMorgan Chase & Co. dropped their target price on Trane Technologies from $550.00 to $480.00 and set an “overweight” rating for the company in a report on Wednesday. Sanford C. Bernstein raised their price target on Trane Technologies from $555.00 to $575.00 and gave the stock an “outperform” rating in a research report on Friday, August 14th. The Goldman Sachs Group raised Trane Technologies from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $548.00 to $565.00 in a research note on Wednesday, October 14th. Wells Fargo & Company started coverage on Trane Technologies in a research report on Friday, September 25th. They issued an “overweight” rating and a $536.00 price objective for the company. Finally, Robert W. Baird increased their price objective on Trane Technologies from $515.00 to $532.00 and gave the company a “neutral” rating in a research note on Thursday, July 23rd. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $532.21.

Trane Technologies Stock Performance

Shares of TT stock opened at $424.68 on Thursday. Trane Technologies plc has a 12 month low of $348.06 and a 12 month high of $505.87. The stock has a market cap of $92.96 billion, a PE ratio of 29.99, a price-to-earnings-growth ratio of 1.98 and a beta of 1.19. The company has a current ratio of 1.12, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The company’s fifty day moving average price is $444.35 and its 200-day moving average price is $454.94.

Trane Technologies (NYSE:TT) last released its earnings results on Thursday, October 29th. The company reported $4.86 EPS for the quarter, topping the consensus estimate of $4.74 by $0.12. The business had revenue of $6.76 billion for the quarter, compared to the consensus estimate of $6.50 billion. Trane Technologies had a return on equity of 37.26% and a net margin of 13.56%. The company’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same period in the previous year, the company posted $3.88 earnings per share. On average, equities analysts expect that Trane Technologies plc will post 15.29 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Friday, December 4th will be issued a $1.05 dividend. The ex-dividend date of this dividend is Friday, December 4th. This represents a $4.20 annualized dividend and a yield of 1.0%. Trane Technologies’s payout ratio is 29.66%.

Insider Activity

In other news, CEO David Regnery sold 48,091 shares of the company’s stock in a transaction that occurred on Tuesday, October 6th. The shares were sold at an average price of $480.00, for a total value of $23,083,680.00. Following the transaction, the chief executive officer owned 96,951 shares in the company, valued at approximately $46,536,480. This represents a 33.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.43% of the company’s stock.

Trane Technologies Profile

Trane Technologies plc is a global climate innovator that designs, manufactures, and services heating, ventilation, air conditioning, and refrigeration systems. Its products and services support commercial buildings, homes, and transportation applications, including temperature-controlled shipping. The company’s portfolio includes the Trane brand of HVAC systems and building services, as well as Thermo King equipment for transport refrigeration and climate control. It also offers building controls, energy-efficiency solutions, system maintenance, and related services.