Trane Technologies plc (NYSE:TT) Shares Sold by Oak Harbor Wealth Partners LLC

Oak Harbor Wealth Partners LLC reduced its position in Trane Technologies plc (NYSE:TT) by 1.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,970 shares of the company’s stock after selling 42 shares during the period. Oak Harbor Wealth Partners LLC’s holdings in Trane Technologies were worth $977,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of TT. Empowered Funds LLC grew its holdings in Trane Technologies by 138.0% during the 1st quarter. Empowered Funds LLC now owns 6,667 shares of the company’s stock worth $2,001,000 after acquiring an additional 3,866 shares in the last quarter. Nordea Investment Management AB grew its stake in Trane Technologies by 3.0% in the first quarter. Nordea Investment Management AB now owns 453,212 shares of the company’s stock worth $135,796,000 after purchasing an additional 13,078 shares in the last quarter. Sei Investments Co. increased its holdings in Trane Technologies by 379.2% in the first quarter. Sei Investments Co. now owns 306,165 shares of the company’s stock valued at $91,909,000 after buying an additional 242,271 shares during the last quarter. GSA Capital Partners LLP bought a new stake in Trane Technologies in the fourth quarter valued at about $3,086,000. Finally, Capital World Investors raised its stake in Trane Technologies by 0.6% during the fourth quarter. Capital World Investors now owns 2,176,595 shares of the company’s stock valued at $530,870,000 after buying an additional 11,930 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TT has been the subject of several recent research reports. Wells Fargo & Company boosted their target price on shares of Trane Technologies from $310.00 to $315.00 and gave the company an “underweight” rating in a research note on Thursday, August 1st. Stephens reissued an “equal weight” rating and issued a $350.00 target price on shares of Trane Technologies in a report on Monday, August 5th. Mizuho lifted their target price on Trane Technologies from $280.00 to $325.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. JPMorgan Chase & Co. increased their price target on Trane Technologies from $247.00 to $300.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Finally, Citigroup boosted their price objective on Trane Technologies from $355.00 to $366.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, Trane Technologies currently has an average rating of “Hold” and an average target price of $323.29.

Insider Transactions at Trane Technologies

In other news, CFO Christopher J. Kuehn sold 4,000 shares of the stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $318.67, for a total value of $1,274,680.00. Following the completion of the sale, the chief financial officer now directly owns 61,293 shares of the company’s stock, valued at $19,532,240.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Christopher J. Kuehn sold 4,000 shares of the stock in a transaction on 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 completion of the sale, the chief financial officer now directly owns 61,293 shares in the company, valued at $19,532,240.31. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Evan M. Turtz sold 8,988 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $321.30, for a total value of $2,887,844.40. Following the sale, the senior vice president now directly owns 20,758 shares of the company’s stock, valued at $6,669,545.40. The disclosure for this sale can be found here. Insiders sold a total of 44,243 shares of company stock valued at $14,216,550 over the last quarter. Company insiders own 0.38% of the company’s stock.

Trane Technologies Price Performance

Shares of NYSE TT traded down $6.55 during midday trading on Friday, reaching $341.30. The company’s stock had a trading volume of 969,923 shares, compared to its average volume of 1,132,039. Trane Technologies plc has a one year low of $184.02 and a one year high of $351.41. The company has a market cap of $77.25 billion, a price-to-earnings ratio of 36.46, a price-to-earnings-growth ratio of 2.50 and a beta of 1.01. The company has a 50 day moving average price of $333.39 and a 200 day moving average price of $311.67. The company has a current ratio of 1.17, a quick ratio of 0.74 and a debt-to-equity ratio of 0.62.

Trane Technologies (NYSE:TT) last announced its 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. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. The company had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.13 billion. During the same period in the previous year, the firm earned $2.68 earnings per share. Trane Technologies’s revenue for the quarter was up 12.8% compared to the same quarter last year. On average, equities research analysts expect that Trane Technologies plc will post 10.83 EPS for the current year.

Trane Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be issued a $0.84 dividend. The ex-dividend date is Friday, September 6th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.98%. Trane Technologies’s payout ratio is currently 35.90%.

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.