Sequoia Financial Advisors LLC Grows Stake in Trane Technologies plc (NYSE:TT)

Sequoia Financial Advisors LLC lifted its stake in Trane Technologies plc (NYSE:TT) by 73.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,948 shares of the company’s stock after purchasing an additional 2,090 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Trane Technologies were worth $1,207,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of TT. BKM Wealth Management LLC bought a new stake in shares of Trane Technologies in the 4th quarter worth about $25,000. Live Oak Investment Partners purchased a new stake in shares of Trane Technologies in the fourth quarter worth approximately $30,000. Venturi Wealth Management LLC boosted its holdings in Trane Technologies by 139.7% during the 3rd quarter. Venturi Wealth Management LLC now owns 151 shares of the company’s stock valued at $31,000 after acquiring an additional 88 shares during the period. 1832 Asset Management L.P. purchased a new stake in Trane Technologies in the first quarter worth $34,000. Finally, Avior Wealth Management LLC boosted its stake in shares of Trane Technologies by 58.0% during the third quarter. Avior Wealth Management LLC now owns 177 shares of the company’s stock valued at $36,000 after purchasing an additional 65 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Down 0.1 %

TT stock opened at $296.96 on Friday. The firm has a 50 day moving average of $287.68 and a 200 day moving average of $248.09. The stock has a market capitalization of $67.43 billion, a PE ratio of 33.78, a price-to-earnings-growth ratio of 2.51 and a beta of 1.05. Trane Technologies plc has a 52 week low of $162.04 and a 52 week high of $306.98. The company has a quick ratio of 0.78, a current ratio of 1.13 and a debt-to-equity ratio of 0.57.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Thursday, February 1st. The company reported $2.17 EPS for the quarter, topping analysts’ consensus estimates of $2.13 by $0.04. The company had revenue of $4.42 billion during the quarter, compared to analysts’ expectations of $4.43 billion. Trane Technologies had a return on equity of 32.01% and a net margin of 11.45%. The firm’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.82 EPS. Sell-side analysts forecast that Trane Technologies plc will post 10.2 earnings per share for the current year.

Trane Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be paid a $0.84 dividend. The ex-dividend date is Thursday, June 6th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.13%. Trane Technologies’s payout ratio is currently 38.23%.

Analyst Upgrades and Downgrades

TT has been the subject of several research reports. The Goldman Sachs Group boosted their price objective on shares of Trane Technologies from $253.00 to $287.00 and gave the company a “neutral” rating in a research report on Monday, February 5th. Citigroup increased their price target on Trane Technologies from $309.00 to $355.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Barclays upped their price objective on shares of Trane Technologies from $286.00 to $325.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. Royal Bank of Canada upped their price target on shares of Trane Technologies from $231.00 to $246.00 and gave the stock a “sector perform” rating in a research report on Friday, February 2nd. Finally, Stephens upped their target price on Trane Technologies from $235.00 to $280.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 6th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Trane Technologies currently has a consensus rating of “Hold” and a consensus price target of $251.83.

Insider Activity at Trane Technologies

In other news, SVP Evan M. Turtz sold 2,821 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $288.33, for a total value of $813,378.93. Following the completion of the transaction, the senior vice president now owns 20,729 shares of the company’s stock, valued at approximately $5,976,792.57. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Trane Technologies news, CFO Christopher J. Kuehn sold 3,762 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $286.48, for a total value of $1,077,737.76. Following the completion of the transaction, the chief financial officer now owns 61,691 shares in the company, valued at $17,673,237.68. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Evan M. Turtz sold 2,821 shares of Trane Technologies stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $288.33, for a total value of $813,378.93. Following the completion of the transaction, the senior vice president now owns 20,729 shares of the company’s stock, valued at approximately $5,976,792.57. The disclosure for this sale can be found here. Insiders sold 29,874 shares of company stock worth $8,462,825 over the last three months. Company insiders own 0.39% of the company’s stock.

About Trane Technologies

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.