Advisor Group Holdings Inc. Lowers Stake in Trane Technologies plc (NYSE:TT)

Advisor Group Holdings Inc. trimmed its holdings in Trane Technologies plc (NYSE:TTGet Rating) by 10.8% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 60,449 shares of the company’s stock after selling 7,335 shares during the period. Advisor Group Holdings Inc.’s holdings in Trane Technologies were worth $9,890,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Bellevue Asset Management LLC acquired a new position in Trane Technologies in the 4th quarter valued at $36,000. EverSource Wealth Advisors LLC purchased a new position in Trane Technologies during the fourth quarter worth about $37,000. Delos Wealth Advisors LLC lifted its position in Trane Technologies by 129.6% in the fourth quarter. Delos Wealth Advisors LLC now owns 186 shares of the company’s stock valued at $38,000 after purchasing an additional 105 shares during the period. Riverview Trust Co purchased a new stake in Trane Technologies in the 1st quarter valued at approximately $32,000. Finally, Leelyn Smith LLC increased its position in Trane Technologies by 380.0% during the 4th quarter. Leelyn Smith LLC now owns 240 shares of the company’s stock worth $48,000 after purchasing an additional 190 shares during the period. Institutional investors and hedge funds own 80.55% of the company’s stock.

Trane Technologies Stock Up 3.9 %

Shares of NYSE:TT opened at $150.91 on Thursday. The company has a quick ratio of 0.91, a current ratio of 1.31 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $35.29 billion, a P/E ratio of 25.11, a P/E/G ratio of 1.85 and a beta of 1.04. Trane Technologies plc has a 52-week low of $120.64 and a 52-week high of $204.23. The stock’s fifty day simple moving average is $133.64 and its 200-day simple moving average is $145.56.

Trane Technologies (NYSE:TTGet Rating) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $2.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.10 by $0.06. The company had revenue of $4.19 billion for the quarter, compared to analysts’ expectations of $4.11 billion. Trane Technologies had a net margin of 10.01% and a return on equity of 23.67%. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period last year, the company earned $1.92 EPS. As a group, equities research analysts forecast that Trane Technologies plc will post 7.01 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 2nd will be paid a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date is Thursday, September 1st. Trane Technologies’s dividend payout ratio is presently 44.59%.

Analyst Ratings Changes

TT has been the subject of several recent analyst reports. Credit Suisse Group set a $165.00 price target on Trane Technologies in a report on Tuesday, July 19th. The Goldman Sachs Group decreased their target price on shares of Trane Technologies from $156.00 to $132.00 and set a “neutral” rating on the stock in a research report on Thursday, June 23rd. Morgan Stanley cut their price target on shares of Trane Technologies from $155.00 to $153.00 and set an “overweight” rating for the company in a report on Friday, July 15th. Cowen raised shares of Trane Technologies from a “market perform” rating to an “outperform” rating and set a $180.00 price objective on the stock in a report on Friday, July 8th. Finally, Cowen raised shares of Trane Technologies from a “market perform” rating to an “outperform” rating and set a $180.00 target price for the company in a report on Friday, July 8th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $170.18.

Trane Technologies Profile

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Trane Technologies plc, together with its subsidiaries, engages in the designing, manufacturing, selling, and servicing of solutions for heating, ventilation, air conditioning, and transport refrigeration. It offers air conditioners, exchangers, and handlers; airside and terminal devices; auxiliary power units; chillers; coils and condensers; gensets; furnaces; heat pumps; home automation products; humidifiers; hybrid and non-diesel transport refrigeration, and ice energy storage solutions; indoor air quality assessments and related products; large and light commercial unitary products; motor replacements; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.

Further Reading

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Institutional Ownership by Quarter for Trane Technologies (NYSE:TT)

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