Trane Technologies plc $TT Shares Bought by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC grew its holdings in shares of Trane Technologies plc (NYSE:TT) by 18.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,672 shares of the company’s stock after buying an additional 1,205 shares during the period. Sequoia Financial Advisors LLC’s holdings in Trane Technologies were worth $3,197,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Kornitzer Capital Management Inc. KS raised its stake in Trane Technologies by 39.7% during the 1st quarter. Kornitzer Capital Management Inc. KS now owns 2,025 shares of the company’s stock valued at $844,000 after acquiring an additional 575 shares in the last quarter. Hsbc Holdings PLC grew its stake in shares of Trane Technologies by 215.9% in the first quarter. Hsbc Holdings PLC now owns 653,423 shares of the company’s stock worth $271,950,000 after purchasing an additional 446,598 shares in the last quarter. Roman Butler Fullerton & Co. acquired a new position in shares of Trane Technologies during the first quarter valued at $229,000. Mosaic Family Wealth Partners LLC raised its stake in shares of Trane Technologies by 36.4% during the first quarter. Mosaic Family Wealth Partners LLC now owns 843 shares of the company’s stock valued at $351,000 after purchasing an additional 225 shares in the last quarter. Finally, Ibex Wealth Advisors acquired a new stake in Trane Technologies in the first quarter worth about $205,000. 82.97% of the stock is owned by institutional investors.

Insider Activity at Trane Technologies

In other news, insider Donald E. Simmons sold 4,593 shares of the firm’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $500.00, for a total transaction of $2,296,500.00. Following the completion of the sale, the insider directly owned 3,819 shares of the company’s stock, valued at $1,909,500. This trade represents a 54.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Royal Bank Of Canada increased their target price on shares of Trane Technologies from $440.00 to $501.00 and gave the company a “sector perform” rating in a research report on Friday, May 1st. Barclays upped their price target on shares of Trane Technologies from $507.00 to $585.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Evercore began coverage on shares of Trane Technologies in a report on Monday, April 13th. They issued an “outperform” rating and a $535.00 price objective for the company. Citigroup boosted their target price on Trane Technologies from $525.00 to $570.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Finally, JPMorgan Chase & Co. upped their target price on Trane Technologies from $460.00 to $476.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Trane Technologies has a consensus rating of “Moderate Buy” and an average target price of $512.50.

Trane Technologies Stock Performance

NYSE:TT opened at $479.67 on Tuesday. The company has a 50-day moving average of $469.76 and a 200-day moving average of $444.99. The firm has a market cap of $106.03 billion, a price-to-earnings ratio of 37.10, a price-to-earnings-growth ratio of 2.21 and a beta of 1.19. The company has a current ratio of 1.10, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46. Trane Technologies plc has a twelve month low of $348.06 and a twelve month high of $505.87.

Trane Technologies (NYSE:TT) last released its earnings results on Friday, May 1st. The company reported $2.63 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.10. The business had revenue of $4.97 billion for the quarter, compared to the consensus estimate of $4.81 billion. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the previous year, the firm earned $2.45 EPS. Analysts forecast that Trane Technologies plc will post 14.9 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 4th will be given a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, September 4th. Trane Technologies’s dividend payout ratio is 32.48%.

Trane Technologies Profile

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.