Bradley Foster & Sargent Inc. CT Grows Stock Position in Trane Technologies plc $TT

Bradley Foster & Sargent Inc. CT boosted its stake in shares of Trane Technologies plc (NYSE:TT) by 65.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,335 shares of the company’s stock after purchasing an additional 4,077 shares during the quarter. Bradley Foster & Sargent Inc. CT’s holdings in Trane Technologies were worth $4,361,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in TT. King Luther Capital Management Corp raised its holdings in Trane Technologies by 1.3% in the second quarter. King Luther Capital Management Corp now owns 1,942 shares of the company’s stock valued at $849,000 after acquiring an additional 24 shares in the last quarter. Old Port Advisors increased its position in shares of Trane Technologies by 3.2% in the 3rd quarter. Old Port Advisors now owns 778 shares of the company’s stock valued at $328,000 after purchasing an additional 24 shares during the last quarter. OneAscent Wealth Management LLC raised its holdings in shares of Trane Technologies by 1.5% in the 3rd quarter. OneAscent Wealth Management LLC now owns 1,627 shares of the company’s stock valued at $686,000 after purchasing an additional 24 shares in the last quarter. Bridgewater Advisors Inc. lifted its position in shares of Trane Technologies by 3.7% during the 3rd quarter. Bridgewater Advisors Inc. now owns 670 shares of the company’s stock worth $285,000 after purchasing an additional 24 shares during the last quarter. Finally, Busey Bank grew its stake in shares of Trane Technologies by 3.0% during the third quarter. Busey Bank now owns 871 shares of the company’s stock worth $368,000 after purchasing an additional 25 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Trading Down 0.7%

TT opened at $460.32 on Thursday. The company has a quick ratio of 0.92, a current ratio of 1.25 and a debt-to-equity ratio of 0.46. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $479.37. The business’s 50 day moving average is $414.81 and its two-hundred day moving average is $416.19. The firm has a market cap of $101.88 billion, a price-to-earnings ratio of 35.46, a price-to-earnings-growth ratio of 2.44 and a beta of 1.21.

Trane Technologies (NYSE:TT) last announced its earnings results on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.81 by $0.05. Trane Technologies had a net margin of 13.69% and a return on equity of 36.34%. The business had revenue of $5.14 billion for the quarter, compared to analyst estimates of $5.09 billion. During the same period last year, the firm posted $2.61 earnings per share. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. On average, research analysts predict that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 6th will be issued a $1.05 dividend. The ex-dividend date of this dividend is Friday, March 6th. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.94. This represents a $4.20 dividend on an annualized basis and a dividend yield of 0.9%. Trane Technologies’s dividend payout ratio is currently 28.97%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on TT shares. Morgan Stanley cut their price target on Trane Technologies from $550.00 to $535.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 13th. KeyCorp upgraded Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 price objective on the stock in a report on Monday, December 15th. Bank of America upgraded Trane Technologies from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $490.00 to $550.00 in a research note on Thursday, November 13th. JPMorgan Chase & Co. upped their price target on Trane Technologies from $434.00 to $460.00 and gave the company a “neutral” rating in a report on Friday, January 30th. Finally, Barclays raised their price objective on shares of Trane Technologies from $505.00 to $507.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $484.67.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, CEO David S. Regnery sold 5,588 shares of the stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $462.60, for a total transaction of $2,585,008.80. Following the completion of the sale, the chief executive officer directly owned 96,948 shares of the company’s stock, valued at approximately $44,848,144.80. This trade represents a 5.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Elizabeth A. Elwell sold 137 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $462.48, for a total value of $63,359.76. Following the completion of the transaction, the chief accounting officer directly owned 7,100 shares in the company, valued at approximately $3,283,608. The trade was a 1.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 8,936 shares of company stock worth $4,133,991 over the last three months. 0.14% of the stock is currently owned by corporate insiders.

Trane Technologies Company Profile

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.