Envestnet Asset Management Inc. Increases Stock Position in Trane Technologies plc (NYSE:TT)

Envestnet Asset Management Inc. raised its holdings in Trane Technologies plc (NYSE:TT) by 22.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 263,699 shares of the company’s stock after purchasing an additional 48,988 shares during the quarter. Envestnet Asset Management Inc. owned 0.12% of Trane Technologies worth $40,121,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Industrial Alliance Investment Management Inc. boosted its holdings in Trane Technologies by 3,566.3% in the 1st quarter. Industrial Alliance Investment Management Inc. now owns 7,296 shares of the company’s stock valued at $1,342,000 after purchasing an additional 7,097 shares in the last quarter. Greenleaf Trust boosted its holdings in Trane Technologies by 2.3% in the 1st quarter. Greenleaf Trust now owns 5,492 shares of the company’s stock valued at $1,010,000 after purchasing an additional 122 shares in the last quarter. Rhumbline Advisers boosted its holdings in Trane Technologies by 7.2% in the 1st quarter. Rhumbline Advisers now owns 487,924 shares of the company’s stock valued at $89,768,000 after purchasing an additional 32,851 shares in the last quarter. Waratah Capital Advisors Ltd. boosted its holdings in Trane Technologies by 29.7% in the 1st quarter. Waratah Capital Advisors Ltd. now owns 24,820 shares of the company’s stock valued at $4,566,000 after purchasing an additional 5,687 shares in the last quarter. Finally, Commonwealth Equity Services LLC boosted its holdings in Trane Technologies by 27.2% in the 1st quarter. Commonwealth Equity Services LLC now owns 40,682 shares of the company’s stock valued at $7,484,000 after purchasing an additional 8,708 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Insider Transactions at Trane Technologies

In other news, SVP Evan M. Turtz sold 6,108 shares of the company’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $205.21, for a total transaction of $1,253,422.68. Following the completion of the sale, the senior vice president now directly owns 19,666 shares in the company, valued at approximately $4,035,659.86. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, SVP Evan M. Turtz sold 6,108 shares of the company’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $205.21, for a total transaction of $1,253,422.68. Following the completion of the sale, the senior vice president now directly owns 19,666 shares in the company, valued at approximately $4,035,659.86. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Linda P. Hudson sold 3,100 shares of the company’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $204.70, for a total value of $634,570.00. Following the sale, the director now owns 4,332 shares of the company’s stock, valued at $886,760.40. The disclosure for this sale can be found here. Insiders sold a total of 20,374 shares of company stock worth $4,080,669 in the last ninety days. Insiders own 0.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. 888 reissued a “maintains” rating on shares of Trane Technologies in a research note on Thursday, May 4th. Wells Fargo & Company boosted their price target on Trane Technologies from $172.00 to $181.00 in a research note on Monday, July 10th. Bank of America boosted their price target on Trane Technologies from $160.00 to $187.00 and gave the stock an “underperform” rating in a research note on Thursday, August 3rd. Barclays boosted their price target on Trane Technologies from $210.00 to $222.00 and gave the stock an “overweight” rating in a research note on Thursday, August 3rd. Finally, Mizuho boosted their price target on Trane Technologies from $185.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, August 3rd. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Trane Technologies has an average rating of “Hold” and an average price target of $194.81.

Trane Technologies Trading Up 0.5 %

Shares of TT opened at $203.61 on Tuesday. The stock has a fifty day moving average of $196.30 and a two-hundred day moving average of $185.22. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.77 and a current ratio of 1.19. The company has a market capitalization of $46.50 billion, a PE ratio of 25.11, a price-to-earnings-growth ratio of 1.78 and a beta of 1.02. Trane Technologies plc has a fifty-two week low of $139.07 and a fifty-two week high of $209.17.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Wednesday, August 2nd. The company reported $2.68 earnings per share for the quarter, beating the consensus estimate of $2.56 by $0.12. The company had revenue of $4.71 billion during the quarter, compared to the consensus estimate of $4.61 billion. Trane Technologies had a return on equity of 31.22% and a net margin of 11.18%. Trane Technologies’s revenue was up 12.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.16 EPS. As a group, analysts forecast that Trane Technologies plc will post 8.86 EPS for the current year.

Trane Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 1st will be issued a dividend of $0.75 per share. The ex-dividend date is Thursday, August 31st. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.47%. Trane Technologies’s payout ratio is 36.99%.

Trane Technologies Company Profile

Trane Technologies plc, together with its subsidiaries, designs, manufactures, sells, and services of solutions for heating, ventilation, air conditioning, custom, and custom and transport refrigeration in Ireland and internationally. It offers air conditioners, exchangers, and handlers; airside and terminal devices; air sourced heat pumps, auxiliary power units; chillers; coils and condensers; gensets; dehumidifiers; ductless; furnaces; home automation products; humidifiers; indoor air quality assessments and related products; large and light commercial unitary products; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.