Trane Technologies plc $TT Stock: Chicago Partners Investment Group LLC Grows Stake

Chicago Partners Investment Group LLC boosted its holdings in shares of Trane Technologies plc (NYSE:TT) by 46.1% in the 3rd quarter, Holdings Channel reports. The firm owned 6,077 shares of the company’s stock after buying an additional 1,918 shares during the period. Chicago Partners Investment Group LLC’s holdings in Trane Technologies were worth $2,704,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in TT. Caldwell Trust Co grew its position in Trane Technologies by 12.2% in the third quarter. Caldwell Trust Co now owns 7,571 shares of the company’s stock worth $3,422,000 after buying an additional 824 shares during the last quarter. 3Chopt Investment Partners LLC lifted its position in shares of Trane Technologies by 20.9% during the 3rd quarter. 3Chopt Investment Partners LLC now owns 1,147 shares of the company’s stock valued at $518,000 after acquiring an additional 198 shares during the last quarter. Compass Financial Management LLC acquired a new stake in shares of Trane Technologies during the 3rd quarter valued at $92,000. Rakuten Investment Management Inc. acquired a new stake in shares of Trane Technologies during the 3rd quarter valued at $18,023,000. Finally, Provenance Wealth Advisors LLC boosted its stake in shares of Trane Technologies by 5,542.9% during the 3rd quarter. Provenance Wealth Advisors LLC now owns 790 shares of the company’s stock worth $357,000 after acquiring an additional 776 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors.

Trane Technologies Stock Up 2.4%

Shares of TT traded up $9.55 during mid-day trading on Friday, reaching $401.98. The company’s stock had a trading volume of 1,956,771 shares, compared to its average volume of 1,498,863. The company has a market cap of $87.99 billion, a price-to-earnings ratio of 28.39, a price-to-earnings-growth ratio of 1.94 and a beta of 1.19. The business has a fifty day moving average of $445.69 and a 200 day moving average of $454.46. The company has a quick ratio of 0.79, a current ratio of 1.12 and a debt-to-equity ratio of 0.43. Trane Technologies plc has a 1 year low of $348.06 and a 1 year high of $505.87.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Thursday, October 29th. The company reported $4.86 earnings per share for the quarter, beating analysts’ consensus estimates 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%. Trane Technologies’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.88 earnings per share. As a group, analysts forecast that Trane Technologies plc will post 15.29 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

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

Insider Buying and Selling at Trane Technologies

In other news, CEO David Regnery sold 48,091 shares of the 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 completion of the sale, the chief executive officer directly owned 96,951 shares of the company’s stock, valued at $46,536,480. This represents a 33.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Evercore lifted their target price on Trane Technologies from $560.00 to $565.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Wells Fargo & Company assumed coverage on Trane Technologies in a report on Friday, September 25th. They set an “overweight” rating and a $536.00 target price for the company. Sanford C. Bernstein lifted their price target on Trane Technologies from $555.00 to $575.00 and gave the stock an “outperform” rating in a research note on Friday, August 14th. Robert W. Baird boosted their price objective on Trane Technologies from $515.00 to $532.00 and gave the stock a “neutral” rating in a report on Thursday, July 23rd. Finally, Citigroup cut their price objective on Trane Technologies from $566.00 to $549.00 and set a “buy” rating on the stock in a report on Monday, November 2nd. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $535.89.

Trane Technologies Company 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.

Trane Technologies was formed in 2020 when Ingersoll Rand completed the spin-off of its industrial businesses and adopted the Trane Technologies name.