Headinvest LLC Sells 515 Shares of Trane Technologies plc (NYSE:TT)

Headinvest LLC lowered its position in Trane Technologies plc (NYSE:TT) by 30.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,204 shares of the company’s stock after selling 515 shares during the quarter. Headinvest LLC’s holdings in Trane Technologies were worth $468,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of TT. U.S. Capital Wealth Advisors LLC boosted its stake in Trane Technologies by 14.8% during the second quarter. U.S. Capital Wealth Advisors LLC now owns 1,137 shares of the company’s stock worth $374,000 after buying an additional 147 shares in the last quarter. Diversify Advisory Services LLC boosted its position in shares of Trane Technologies by 11.4% during the 2nd quarter. Diversify Advisory Services LLC now owns 809 shares of the company’s stock valued at $270,000 after acquiring an additional 83 shares in the last quarter. MJP Associates Inc. ADV increased its stake in Trane Technologies by 6.6% in the second quarter. MJP Associates Inc. ADV now owns 997 shares of the company’s stock valued at $328,000 after acquiring an additional 62 shares during the period. Czech National Bank raised its position in Trane Technologies by 7.7% in the second quarter. Czech National Bank now owns 43,134 shares of the company’s stock worth $14,188,000 after purchasing an additional 3,096 shares in the last quarter. Finally, Sequoia Financial Advisors LLC lifted its stake in Trane Technologies by 12.3% during the second quarter. Sequoia Financial Advisors LLC now owns 4,773 shares of the company’s stock worth $1,570,000 after purchasing an additional 524 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

TT has been the topic of several analyst reports. Barclays upped their price objective on Trane Technologies from $440.00 to $500.00 and gave the company an “overweight” rating in a research note on Thursday. Mizuho increased their price objective on Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. HSBC downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 target price on the stock. in a research note on Thursday, October 31st. Hsbc Global Res cut shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Finally, Northcoast Research assumed coverage on shares of Trane Technologies in a research report on Friday, November 22nd. They issued a “buy” rating and a $500.00 price target on the stock. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Trane Technologies has an average rating of “Hold” and an average target price of $401.93.

Trane Technologies Price Performance

TT opened at $412.18 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.92. The stock has a market capitalization of $92.75 billion, a P/E ratio of 38.24, a price-to-earnings-growth ratio of 2.53 and a beta of 1.03. The company’s 50 day simple moving average is $400.85 and its 200-day simple moving average is $362.24. Trane Technologies plc has a one year low of $229.07 and a one year high of $422.00.

Trane Technologies (NYSE:TT) last released its earnings results on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, beating the consensus estimate of $3.23 by $0.14. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The company had revenue of $5.44 billion during the quarter, compared to analysts’ expectations of $5.32 billion. During the same period last year, the firm earned $2.79 EPS. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. Sell-side analysts anticipate that Trane Technologies plc will post 11.13 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.36 dividend on an annualized basis and a yield of 0.82%. Trane Technologies’s payout ratio is presently 31.17%.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, SVP Mairead Magner sold 4,329 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the completion of the sale, the senior vice president now owns 12,893 shares in the company, valued at approximately $5,363,488. The trade was a 25.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate 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.