Trane Technologies plc $TT Shares Bought by Allworth Financial LP

Allworth Financial LP increased its position in Trane Technologies plc (NYSE:TT) by 42.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,597 shares of the company’s stock after buying an additional 1,359 shares during the period. Allworth Financial LP’s holdings in Trane Technologies were worth $1,940,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank acquired a new stake in Trane Technologies during the second quarter worth approximately $1,356,065,000. JPMorgan Chase & Co. raised its holdings in Trane Technologies by 10.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 15,525,010 shares of the company’s stock valued at $6,550,975,000 after acquiring an additional 1,433,563 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in shares of Trane Technologies by 229.3% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,752,551 shares of the company’s stock worth $766,583,000 after purchasing an additional 1,220,388 shares during the period. Corient Private Wealth LLC lifted its stake in shares of Trane Technologies by 135.4% during the 2nd quarter. Corient Private Wealth LLC now owns 735,589 shares of the company’s stock worth $321,757,000 after purchasing an additional 423,090 shares during the period. Finally, Lazard Asset Management LLC boosted its holdings in shares of Trane Technologies by 40.2% during the second quarter. Lazard Asset Management LLC now owns 1,135,906 shares of the company’s stock worth $496,855,000 after purchasing an additional 325,853 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on TT shares. Citigroup upped their target price on Trane Technologies from $513.00 to $525.00 and gave the company a “buy” rating in a research note on Friday, January 30th. UBS Group decreased their price target on Trane Technologies from $544.00 to $520.00 and set a “buy” rating on the stock in a research note on Monday, January 5th. Melius Research upgraded Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 price target for the company in a report on Wednesday, January 7th. Wells Fargo & Company increased their price objective on shares of Trane Technologies from $375.00 to $400.00 and gave the stock an “underweight” rating in a report on Friday, January 30th. Finally, JPMorgan Chase & Co. raised their target price on shares of Trane Technologies from $434.00 to $460.00 and gave the stock a “neutral” rating in a research report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $484.67.

Insider Buying and Selling

In other news, CEO David S. Regnery sold 36,045 shares of the stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $422.69, for a total value of $15,235,861.05. Following the completion of the sale, the chief executive officer owned 96,948 shares in the company, valued at approximately $40,978,950.12. This trade represents a 27.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Donald E. Simmons sold 3,762 shares of the business’s stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $422.70, for a total value of $1,590,197.40. Following the transaction, the insider directly owned 3,819 shares in the company, valued at $1,614,291.30. This trade represents a 49.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 49,378 shares of company stock worth $21,228,464 in the last ninety days. 0.14% of the stock is owned by corporate insiders.

Trane Technologies Stock Performance

Shares of TT stock opened at $410.35 on Monday. The company has a current ratio of 1.25, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. The company has a market cap of $90.82 billion, a PE ratio of 31.61, a P/E/G ratio of 2.16 and a beta of 1.19. The company’s fifty day simple moving average is $430.25 and its 200-day simple moving average is $417.36. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $479.37.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Thursday, January 29th. The company reported $2.86 earnings per share 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 firm had revenue of $5.14 billion during the quarter, compared to analysts’ expectations of $5.09 billion. During the same period in the prior year, the company earned $2.61 EPS. The firm’s revenue was up 5.6% on a year-over-year basis. As a group, equities research analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 6th will be given 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 annualized dividend and a dividend yield of 1.0%. Trane Technologies’s dividend payout ratio (DPR) is currently 32.36%.

About Trane Technologies

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.