Ameritas Investment Partners Inc. Decreases Holdings in Trane Technologies plc (NYSE:TT)

Ameritas Investment Partners Inc. lowered its stake in Trane Technologies plc (NYSE:TT) by 2.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,694 shares of the company’s stock after selling 77 shares during the period. Ameritas Investment Partners Inc.’s holdings in Trane Technologies were worth $809,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in TT. BKM Wealth Management LLC acquired a new stake in shares of Trane Technologies during the fourth quarter worth $25,000. Motco acquired a new stake in shares of Trane Technologies during the fourth quarter worth $27,000. Sachetta LLC acquired a new stake in shares of Trane Technologies during the fourth quarter worth $27,000. GoalVest Advisory LLC lifted its stake in shares of Trane Technologies by 157.1% during the first quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock worth $27,000 after buying an additional 55 shares during the period. Finally, Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of Trane Technologies during the first quarter worth $27,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently commented on TT shares. Wells Fargo & Company lifted their price objective on shares of Trane Technologies from $295.00 to $310.00 and gave the stock an “underweight” rating in a research note on Wednesday, July 10th. JPMorgan Chase & Co. raised their target price on shares of Trane Technologies from $247.00 to $300.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. TD Cowen raised their target price on shares of Trane Technologies from $325.00 to $360.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Stephens raised their target price on shares of Trane Technologies from $310.00 to $320.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 1st. Finally, Citigroup raised their target price on shares of Trane Technologies from $355.00 to $366.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Trane Technologies currently has an average rating of “Hold” and a consensus price target of $312.36.

Insider Transactions at Trane Technologies

In other news, SVP Evan M. Turtz sold 8,988 shares of the business’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $321.30, for a total transaction of $2,887,844.40. Following the completion of the sale, the senior vice president now owns 20,758 shares of the company’s stock, valued at $6,669,545.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Evan M. Turtz sold 8,988 shares of the business’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $321.30, for a total transaction of $2,887,844.40. Following the completion of the sale, the senior vice president now owns 20,758 shares of the company’s stock, valued at $6,669,545.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Christopher J. Kuehn sold 4,000 shares of the business’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $318.67, for a total transaction of $1,274,680.00. Following the sale, the chief financial officer now directly owns 61,293 shares of the company’s stock, valued at approximately $19,532,240.31. The disclosure for this sale can be found here. Corporate insiders own 0.38% of the company’s stock.

Trane Technologies Stock Performance

TT traded up $7.86 on Tuesday, reaching $344.96. The stock had a trading volume of 1,158,955 shares, compared to its average volume of 1,099,822. Trane Technologies plc has a 12-month low of $184.02 and a 12-month high of $347.33. The company has a current ratio of 1.13, a quick ratio of 0.74 and a debt-to-equity ratio of 0.58. The business’s 50-day moving average price is $331.86 and its two-hundred day moving average price is $300.95. The company has a market cap of $78.08 billion, a P/E ratio of 36.02, a price-to-earnings-growth ratio of 2.56 and a beta of 1.01.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Tuesday, April 30th. The company reported $1.94 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.30. Trane Technologies had a net margin of 11.81% and a return on equity of 32.78%. The company had revenue of $4.22 billion during the quarter, compared to analysts’ expectations of $3.99 billion. During the same quarter in the previous year, the company earned $1.41 earnings per share. The firm’s revenue for the quarter was up 15.0% on a year-over-year basis. Sell-side analysts forecast that Trane Technologies plc will post 10.49 earnings per share for the current year.

Trane Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be paid a dividend of $0.84 per share. The ex-dividend date is Friday, September 6th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.97%. Trane Technologies’s dividend payout ratio is currently 35.90%.

About Trane Technologies

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.