Trane Technologies plc (NYSE:TT) Stake Lessened by Apella Capital LLC

Apella Capital LLC lessened its stake in Trane Technologies plc (NYSE:TT) by 2.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,132 shares of the company’s stock after selling 49 shares during the period. Apella Capital LLC’s holdings in Trane Technologies were worth $712,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Motco bought a new stake in Trane Technologies during the fourth quarter valued at $27,000. Sachetta LLC bought a new stake in Trane Technologies during the fourth quarter valued at $27,000. GoalVest Advisory LLC increased its stake in Trane Technologies by 157.1% during the first quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock valued at $27,000 after purchasing an additional 55 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. bought a new stake in Trane Technologies during the first quarter valued at $27,000. Finally, BOK Financial Private Wealth Inc. bought a new stake in Trane Technologies during the first quarter valued at $30,000. Institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on TT shares. JPMorgan Chase & Co. increased their price objective 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. Mizuho increased their price objective on shares of Trane Technologies from $280.00 to $325.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. The Goldman Sachs Group increased their price objective on shares of Trane Technologies from $287.00 to $326.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Barclays increased their price objective on shares of Trane Technologies from $385.00 to $394.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Finally, TD Cowen increased their price objective 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. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $323.29.

Trane Technologies Trading Up 0.2 %

Shares of TT traded up $0.78 during midday trading on Wednesday, hitting $323.69. The stock had a trading volume of 1,208,858 shares, compared to its average volume of 1,139,528. The business has a 50-day simple moving average of $331.08 and a two-hundred day simple moving average of $307.40. The company has a current ratio of 1.17, a quick ratio of 0.74 and a debt-to-equity ratio of 0.62. The firm has a market cap of $73.05 billion, a P/E ratio of 34.56, a price-to-earnings-growth ratio of 2.50 and a beta of 1.01. Trane Technologies plc has a fifty-two week low of $184.02 and a fifty-two week high of $351.41.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $3.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.08 by $0.22. The business had revenue of $5.31 billion during the quarter, compared to analyst estimates of $5.13 billion. Trane Technologies had a net margin of 12.33% and a return on equity of 33.97%. The firm’s revenue was up 12.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.68 earnings per share. As a group, equities analysts forecast that Trane Technologies plc will post 10.83 EPS for the current year.

Trane Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 1.04%. The ex-dividend date is Friday, September 6th. Trane Technologies’s payout ratio is presently 35.90%.

Insider Activity at Trane Technologies

In related news, CEO David S. Regnery sold 29,450 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $321.25, for a total transaction of $9,460,812.50. Following the transaction, the chief executive officer now owns 132,946 shares of the company’s stock, valued at $42,708,902.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO David S. Regnery sold 29,450 shares of Trane Technologies stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $321.25, for a total value of $9,460,812.50. Following the transaction, the chief executive officer now owns 132,946 shares of the company’s stock, valued at $42,708,902.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Christopher J. Kuehn sold 4,000 shares of Trane Technologies stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $318.67, for a total transaction of $1,274,680.00. Following the completion of the transaction, the chief financial officer now directly owns 61,293 shares in the company, valued at approximately $19,532,240.31. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 42,438 shares of company stock valued at $13,623,337. 0.38% of the stock is currently owned by corporate insiders.

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.