Advisor Group Holdings Inc. Decreases Stock Holdings in Trane Technologies plc (NYSE:TT)

Advisor Group Holdings Inc. lessened its stake in Trane Technologies plc (NYSE:TTGet Rating) by 10.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 60,449 shares of the company’s stock after selling 7,335 shares during the quarter. Advisor Group Holdings Inc.’s holdings in Trane Technologies were worth $9,890,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC purchased a new stake in shares of Trane Technologies during the fourth quarter worth approximately $9,313,000. Commonwealth Equity Services LLC grew its holdings in shares of Trane Technologies by 2.9% during the fourth quarter. Commonwealth Equity Services LLC now owns 30,645 shares of the company’s stock worth $6,191,000 after buying an additional 869 shares in the last quarter. CWM LLC acquired a new stake in shares of Trane Technologies in the fourth quarter valued at about $482,000. Ieq Capital LLC lifted its stake in shares of Trane Technologies by 2.5% in the fourth quarter. Ieq Capital LLC now owns 5,034 shares of the company’s stock worth $1,016,000 after buying an additional 125 shares in the last quarter. Finally, FDx Advisors Inc. boosted its position in Trane Technologies by 44.8% during the fourth quarter. FDx Advisors Inc. now owns 5,109 shares of the company’s stock worth $1,032,000 after acquiring an additional 1,581 shares during the last quarter. 80.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on TT shares. Cowen raised shares of Trane Technologies from a “market perform” rating to an “outperform” rating and set a $180.00 target price on the stock in a research note on Friday, July 8th. Mizuho dropped their target price on Trane Technologies from $180.00 to $140.00 and set a “neutral” rating for the company in a report on Monday, July 18th. Cowen upgraded Trane Technologies from a “market perform” rating to an “outperform” rating and set a $180.00 price target on the stock in a report on Friday, July 8th. Credit Suisse Group set a $165.00 price objective on shares of Trane Technologies in a report on Tuesday, July 19th. Finally, Barclays decreased their target price on shares of Trane Technologies from $165.00 to $160.00 and set an “overweight” rating on the stock in a report on Friday, July 8th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Trane Technologies presently has a consensus rating of “Hold” and an average target price of $170.18.

Trane Technologies Stock Up 3.9 %

Shares of TT opened at $150.91 on Thursday. The company’s 50-day simple moving average is $133.64 and its 200-day simple moving average is $145.56. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.91 and a current ratio of 1.31. Trane Technologies plc has a 1 year low of $120.64 and a 1 year high of $204.23. The stock has a market capitalization of $35.29 billion, a PE ratio of 25.11, a P/E/G ratio of 1.85 and a beta of 1.04.

Trane Technologies (NYSE:TTGet Rating) last released its earnings results on Wednesday, August 3rd. The company reported $2.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.10 by $0.06. The company had revenue of $4.19 billion for the quarter, compared to analyst estimates of $4.11 billion. Trane Technologies had a net margin of 10.01% and a return on equity of 23.67%. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.92 EPS. Analysts forecast that Trane Technologies plc will post 7.01 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 2nd will be given a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date is Thursday, September 1st. Trane Technologies’s dividend payout ratio is currently 44.59%.

Trane Technologies Profile

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Trane Technologies plc, together with its subsidiaries, engages in the designing, manufacturing, selling, and servicing of solutions for heating, ventilation, air conditioning, and transport refrigeration. It offers air conditioners, exchangers, and handlers; airside and terminal devices; auxiliary power units; chillers; coils and condensers; gensets; furnaces; heat pumps; home automation products; humidifiers; hybrid and non-diesel transport refrigeration, and ice energy storage solutions; indoor air quality assessments and related products; large and light commercial unitary products; motor replacements; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.

Further Reading

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

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