Trane Technologies plc (NYSE:TT) Shares Sold by Confluence Wealth Services Inc.

Confluence Wealth Services Inc. reduced its position in shares of Trane Technologies plc (NYSE:TT) by 6.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,248 shares of the company’s stock after selling 150 shares during the period. Confluence Wealth Services Inc.’s holdings in Trane Technologies were worth $414,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Trane Technologies by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 18,133,851 shares of the company’s stock valued at $2,769,040,000 after buying an additional 77,924 shares during the period. FMR LLC boosted its stake in shares of Trane Technologies by 102.1% in the first quarter. FMR LLC now owns 7,871,515 shares of the company’s stock valued at $1,448,201,000 after purchasing an additional 3,976,234 shares during the period. Geode Capital Management LLC increased its stake in Trane Technologies by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 4,685,369 shares of the company’s stock worth $786,124,000 after buying an additional 115,545 shares during the period. Norges Bank purchased a new stake in shares of Trane Technologies during the fourth quarter worth $526,026,000. Finally, Morgan Stanley raised its stake in shares of Trane Technologies by 21.1% in the fourth quarter. Morgan Stanley now owns 2,707,243 shares of the company’s stock valued at $455,061,000 after acquiring an additional 471,969 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

Insider Transactions at Trane Technologies

In other news, SVP Evan M. Turtz sold 6,108 shares of Trane Technologies stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $205.21, for a total transaction of $1,253,422.68. Following the completion of the sale, the senior vice president now directly owns 19,666 shares in the company, valued at $4,035,659.86. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CAO Mark Majocha sold 2,202 shares of the business’s stock in a transaction dated Tuesday, July 11th. The stock was sold at an average price of $194.28, for a total transaction of $427,804.56. Following the completion of the sale, the chief accounting officer now owns 3,797 shares in the company, valued at approximately $737,681.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Evan M. Turtz sold 6,108 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $205.21, for a total transaction of $1,253,422.68. Following the completion of the transaction, the senior vice president now owns 19,666 shares in the company, valued at approximately $4,035,659.86. The disclosure for this sale can be found here. Insiders have sold 20,374 shares of company stock valued at $4,080,669 in the last quarter. 0.39% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Royal Bank of Canada increased their price target on Trane Technologies from $194.00 to $204.00 and gave the company a “sector perform” rating in a research report on Thursday, August 3rd. Wells Fargo & Company boosted their target price on shares of Trane Technologies from $172.00 to $181.00 in a research note on Monday, July 10th. Citigroup raised their price target on Trane Technologies from $218.00 to $237.00 in a research note on Thursday, August 3rd. Bank of America upped their price objective on Trane Technologies from $160.00 to $187.00 and gave the stock an “underperform” rating in a research report on Thursday, August 3rd. Finally, Morgan Stanley increased their price objective on Trane Technologies from $210.00 to $231.00 and gave the company an “overweight” rating in a report on Thursday, August 3rd. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $194.81.

Trane Technologies Stock Performance

Shares of NYSE TT traded up $0.58 during mid-day trading on Wednesday, hitting $206.35. 134,329 shares of the company were exchanged, compared to its average volume of 1,368,104. The company has a quick ratio of 0.77, a current ratio of 1.19 and a debt-to-equity ratio of 0.71. The firm has a market cap of $47.13 billion, a price-to-earnings ratio of 25.37, a price-to-earnings-growth ratio of 1.79 and a beta of 1.02. The stock has a 50 day simple moving average of $196.70 and a 200-day simple moving average of $185.38. Trane Technologies plc has a 1-year low of $139.07 and a 1-year high of $209.17.

Trane Technologies (NYSE:TT) last issued its earnings results on Wednesday, August 2nd. The company reported $2.68 earnings per share for the quarter, beating the consensus estimate of $2.56 by $0.12. The business had revenue of $4.71 billion for the quarter, compared to the consensus estimate of $4.61 billion. Trane Technologies had a net margin of 11.18% and a return on equity of 31.22%. The business’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.16 earnings per share. On average, sell-side analysts forecast that Trane Technologies plc will post 8.86 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 1st will be issued a $0.75 dividend. The ex-dividend date is Thursday, August 31st. This represents a $3.00 dividend on an annualized basis and a yield of 1.45%. Trane Technologies’s dividend payout ratio (DPR) is presently 36.99%.

Trane Technologies Profile

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.