Parallel Advisors LLC Has $478,000 Stake in Trane Technologies plc (NYSE:TT)

Parallel Advisors LLC lowered its holdings in Trane Technologies plc (NYSE:TTFree Report) by 4.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,959 shares of the company’s stock after selling 98 shares during the period. Parallel Advisors LLC’s holdings in Trane Technologies were worth $478,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Keel Point LLC boosted its stake in shares of Trane Technologies by 3.0% during the 4th quarter. Keel Point LLC now owns 1,326 shares of the company’s stock valued at $323,000 after buying an additional 39 shares during the period. Rosenberg Matthew Hamilton increased its holdings in Trane Technologies by 27.2% in the fourth quarter. Rosenberg Matthew Hamilton now owns 192 shares of the company’s stock worth $47,000 after buying an additional 41 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its position in Trane Technologies by 2.3% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,847 shares of the company’s stock valued at $450,000 after acquiring an additional 42 shares in the last quarter. Level Four Advisory Services LLC lifted its stake in Trane Technologies by 1.5% in the fourth quarter. Level Four Advisory Services LLC now owns 2,757 shares of the company’s stock valued at $672,000 after acquiring an additional 42 shares during the last quarter. Finally, Cedrus LLC grew its position in Trane Technologies by 2.6% in the fourth quarter. Cedrus LLC now owns 1,669 shares of the company’s stock worth $407,000 after acquiring an additional 43 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

TT has been the subject of several analyst reports. Citigroup lifted their price objective on shares of Trane Technologies from $355.00 to $366.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Barclays raised their price objective on Trane Technologies from $286.00 to $325.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. Royal Bank of Canada increased their price target on Trane Technologies from $231.00 to $246.00 and gave the company a “sector perform” rating in a report on Friday, February 2nd. Mizuho raised their target price on shares of Trane Technologies from $280.00 to $325.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Finally, JPMorgan Chase & Co. upped their price target on Trane Technologies from $247.00 to $300.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $300.54.

Read Our Latest Report on TT

Trane Technologies Stock Performance

Shares of Trane Technologies stock opened at $327.15 on Friday. Trane Technologies plc has a 52 week low of $162.04 and a 52 week high of $338.09. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.74 and a current ratio of 1.13. The stock has a market capitalization of $74.05 billion, a price-to-earnings ratio of 34.95, a PEG ratio of 2.59 and a beta of 1.01. The firm has a fifty day moving average of $312.18 and a two-hundred day moving average of $275.50.

Trane Technologies (NYSE:TTGet Free Report) last released its quarterly earnings data on Tuesday, April 30th. The company reported $1.94 EPS for the quarter, beating analysts’ consensus estimates of $1.64 by $0.30. The business had revenue of $4.22 billion during the quarter, compared to the consensus estimate of $3.99 billion. Trane Technologies had a return on equity of 32.78% and a net margin of 11.81%. The firm’s revenue was up 15.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.41 earnings per share. As a group, equities research analysts predict that Trane Technologies plc will post 10.46 EPS for the current year.

Trane Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be issued a $0.84 dividend. The ex-dividend date is Friday, June 7th. This represents a $3.36 annualized dividend and a yield of 1.03%. Trane Technologies’s dividend payout ratio (DPR) is presently 35.90%.

Insider Activity at Trane Technologies

In related news, CEO David S. Regnery sold 6,990 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $286.19, for a total transaction of $2,000,468.10. Following the completion of the sale, the chief executive officer now directly owns 113,874 shares of the company’s stock, valued at approximately $32,589,600.06. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CFO Christopher J. Kuehn sold 3,762 shares of the company’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $286.48, for a total transaction of $1,077,737.76. Following the completion of the transaction, the chief financial officer now directly owns 61,691 shares of the company’s stock, valued at $17,673,237.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David S. Regnery sold 6,990 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $286.19, for a total value of $2,000,468.10. Following the transaction, the chief executive officer now owns 113,874 shares of the company’s stock, valued at $32,589,600.06. The disclosure for this sale can be found here. Insiders sold a total of 22,979 shares of company stock worth $6,603,372 in the last quarter. Corporate insiders own 0.38% of the company’s stock.

Trane Technologies Profile

(Free Report)

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.

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

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