Trust Investment Advisors Grows Holdings in Trane Technologies plc (NYSE:TT)

Trust Investment Advisors increased its position in Trane Technologies plc (NYSE:TT) by 4.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,609 shares of the company’s stock after acquiring an additional 328 shares during the quarter. Trane Technologies comprises approximately 1.3% of Trust Investment Advisors’ holdings, making the stock its 17th biggest position. Trust Investment Advisors’ holdings in Trane Technologies were worth $1,647,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Monte Financial Group LLC grew its holdings in Trane Technologies by 45.4% during the 2nd quarter. Monte Financial Group LLC now owns 4,596 shares of the company’s stock valued at $879,000 after buying an additional 1,435 shares in the last quarter. Illinois Municipal Retirement Fund grew its holdings in Trane Technologies by 295.4% during the 2nd quarter. Illinois Municipal Retirement Fund now owns 33,858 shares of the company’s stock valued at $6,476,000 after buying an additional 25,296 shares in the last quarter. Merit Financial Group LLC grew its holdings in Trane Technologies by 2.4% during the 2nd quarter. Merit Financial Group LLC now owns 3,325 shares of the company’s stock valued at $636,000 after buying an additional 79 shares in the last quarter. Sandy Spring Bank grew its holdings in Trane Technologies by 6.8% during the 2nd quarter. Sandy Spring Bank now owns 11,300 shares of the company’s stock valued at $2,161,000 after buying an additional 724 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in Trane Technologies by 17.9% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,920 shares of the company’s stock valued at $353,000 after buying an additional 292 shares in the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Trane Technologies

In related news, CEO David S. Regnery sold 17,585 shares of Trane Technologies stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $220.00, for a total value of $3,868,700.00. Following the completion of the sale, the chief executive officer now directly owns 93,081 shares in the company, valued at $20,477,820. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Trane Technologies news, SVP Keith A. Sultana sold 1,637 shares of Trane Technologies stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $217.36, for a total value of $355,818.32. Following the transaction, the senior vice president now owns 42,257 shares in the company, valued at $9,184,981.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David S. Regnery sold 17,585 shares of Trane Technologies stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $220.00, for a total value of $3,868,700.00. Following the completion of the transaction, the chief executive officer now owns 93,081 shares in the company, valued at approximately $20,477,820. The disclosure for this sale can be found here. Insiders sold 32,366 shares of company stock worth $7,093,065 over the last three months. 0.39% of the stock is owned by corporate insiders.

Trane Technologies Trading Up 0.9 %

Shares of NYSE:TT traded up $2.08 on Friday, hitting $228.62. 1,006,041 shares of the company’s stock were exchanged, compared to its average volume of 1,347,693. Trane Technologies plc has a 12 month low of $162.04 and a 12 month high of $229.94. The stock has a market capitalization of $52.02 billion, a price-to-earnings ratio of 26.93, a price-to-earnings-growth ratio of 1.85 and a beta of 1.01. The business’s 50 day simple moving average is $205.29 and its two-hundred day simple moving average is $194.87. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.29 and a quick ratio of 0.87.

Trane Technologies (NYSE:TT) last released its earnings results on Wednesday, November 1st. The company reported $2.79 earnings per share for the quarter, topping the consensus estimate of $2.66 by $0.13. Trane Technologies had a return on equity of 31.97% and a net margin of 11.30%. The business had revenue of $4.95 billion during the quarter, compared to the consensus estimate of $4.80 billion. During the same period last year, the company earned $2.27 earnings per share. The business’s revenue for the quarter was up 13.1% compared to the same quarter last year. Analysts anticipate that Trane Technologies plc will post 9.01 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 1st will be issued a $0.75 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $3.00 annualized dividend and a dividend yield of 1.31%. Trane Technologies’s payout ratio is currently 35.34%.

Analysts Set New Price Targets

TT has been the subject of a number of research analyst reports. Morgan Stanley increased their price objective on shares of Trane Technologies from $231.00 to $234.00 and gave the company an “overweight” rating in a report on Friday, September 22nd. JPMorgan Chase & Co. raised shares of Trane Technologies from an “underweight” rating to a “neutral” rating and set a $191.00 target price for the company in a report on Friday, October 6th. Royal Bank of Canada raised their target price on shares of Trane Technologies from $204.00 to $231.00 and gave the company a “sector perform” rating in a report on Thursday, November 2nd. Citigroup raised their target price on shares of Trane Technologies from $218.00 to $237.00 in a report on Thursday, August 3rd. Finally, HSBC started coverage on shares of Trane Technologies in a report on Friday, September 15th. They issued a “buy” rating and a $256.00 target price for the company. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $207.31.

Trane Technologies Company 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.