Trane Technologies plc (NYSE:TT) Shares Sold by ERn Financial LLC

ERn Financial LLC lessened its stake in shares of Trane Technologies plc (NYSE:TT) by 1.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,842 shares of the company’s stock after selling 29 shares during the quarter. ERn Financial LLC’s holdings in Trane Technologies were worth $716,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Trane Technologies by 0.9% in the first quarter. Vanguard Group Inc. now owns 18,887,514 shares of the company’s stock valued at $5,670,032,000 after acquiring an additional 174,251 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Trane Technologies by 0.5% during the 1st quarter. JPMorgan Chase & Co. now owns 17,393,733 shares of the company’s stock worth $5,221,599,000 after buying an additional 80,536 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Trane Technologies by 0.3% in the 2nd quarter. Mackenzie Financial Corp now owns 1,085,468 shares of the company’s stock valued at $357,043,000 after buying an additional 2,898 shares during the period. TD Asset Management Inc boosted its stake in shares of Trane Technologies by 41.2% in the first quarter. TD Asset Management Inc now owns 1,060,632 shares of the company’s stock valued at $318,402,000 after buying an additional 309,738 shares in the last quarter. Finally, Raymond James & Associates grew its holdings in Trane Technologies by 2.2% during the second quarter. Raymond James & Associates now owns 1,044,405 shares of the company’s stock worth $343,536,000 after acquiring an additional 22,023 shares during the period. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Trane Technologies Stock Down 1.8 %

TT opened at $397.50 on Wednesday. The firm has a market cap of $89.97 billion, a P/E ratio of 42.47, a PEG ratio of 2.75 and a beta of 1.01. The business’s fifty day simple moving average is $365.09 and its 200 day simple moving average is $337.64. Trane Technologies plc has a 52 week low of $184.02 and a 52 week high of $406.96. The company has a quick ratio of 0.84, a current ratio of 1.17 and a debt-to-equity ratio of 0.62.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $3.30 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 the consensus estimate of $5.13 billion. Trane Technologies had a net margin of 12.33% and a return on equity of 33.97%. The company’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.68 earnings per share. As a group, equities research analysts anticipate that Trane Technologies plc will post 10.88 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 0.85%. The ex-dividend date is Friday, December 6th. Trane Technologies’s dividend payout ratio (DPR) is 35.90%.

Analyst Ratings Changes

Several brokerages have commented on TT. Barclays boosted their target price on shares of Trane Technologies from $394.00 to $425.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Robert W. Baird upped their target price on shares of Trane Technologies from $360.00 to $365.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Stephens reaffirmed an “equal weight” rating and issued a $350.00 target price on shares of Trane Technologies in a report on Monday, August 5th. The Goldman Sachs Group boosted their price target on Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Finally, Morgan Stanley began coverage on Trane Technologies in a research note on Friday, September 6th. They issued an “overweight” rating and a $425.00 price objective for the company. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Trane Technologies currently has an average rating of “Hold” and a consensus target price of $367.33.

Insider Activity

In related news, EVP Raymond D. Pittard sold 1,805 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total transaction of $593,213.25. Following the transaction, the executive vice president now directly owns 83,517 shares in the company, valued at approximately $27,447,862.05. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO David S. Regnery sold 29,450 shares of the company’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 completion of the transaction, the chief executive officer now owns 132,946 shares of the company’s stock, valued at approximately $42,708,902.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Raymond D. Pittard sold 1,805 shares of Trane Technologies stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total transaction of $593,213.25. Following the completion of the transaction, the executive vice president now owns 83,517 shares in the company, valued at approximately $27,447,862.05. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.38% of the company’s stock.

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.