Trane Technologies plc (NYSE:TT) Stake Boosted by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC raised its holdings in Trane Technologies plc (NYSE:TT) by 12.3% in the second quarter, Holdings Channel.com reports. The fund owned 4,773 shares of the company’s stock after acquiring an additional 524 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Trane Technologies were worth $1,570,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in TT. PFG Private Wealth Management LLC lifted its position in shares of Trane Technologies by 4.7% during the 2nd quarter. PFG Private Wealth Management LLC now owns 706 shares of the company’s stock worth $232,000 after purchasing an additional 32 shares during the last quarter. Center for Financial Planning Inc. increased its holdings in Trane Technologies by 1.7% during the 1st quarter. Center for Financial Planning Inc. now owns 2,080 shares of the company’s stock valued at $624,000 after purchasing an additional 34 shares in the last quarter. Muirfield Wealth Advisors LLC lifted its position in Trane Technologies by 4.1% during the 2nd quarter. Muirfield Wealth Advisors LLC now owns 939 shares of the company’s stock worth $309,000 after buying an additional 37 shares in the last quarter. Keel Point LLC increased its holdings in shares of Trane Technologies by 3.0% in the fourth quarter. Keel Point LLC now owns 1,326 shares of the company’s stock valued at $323,000 after purchasing an additional 39 shares in the last quarter. Finally, Dorsey & Whitney Trust CO LLC raised its position in shares of Trane Technologies by 2.3% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 1,760 shares of the company’s stock worth $528,000 after acquiring an additional 39 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analysts Set New Price Targets

TT has been the subject of a number of recent analyst reports. Citigroup increased their target price on Trane Technologies from $355.00 to $366.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. The Goldman Sachs Group increased their price target on shares of Trane Technologies from $287.00 to $326.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. UBS Group increased their target price on shares of Trane Technologies from $330.00 to $375.00 and gave the stock a “buy” rating in a research report on Monday, June 3rd. Robert W. Baird upped their price objective 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. Finally, Mizuho upped their price objective on Trane Technologies from $280.00 to $325.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. One investment 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’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $323.29.

Insider Activity

In other Trane Technologies news, SVP Evan M. Turtz sold 8,988 shares of the stock in a transaction on 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 completion of the sale, the senior vice president now owns 20,758 shares in the company, valued at approximately $6,669,545.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Trane Technologies news, SVP Evan M. Turtz sold 8,988 shares of the company’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $321.30, for a total value of $2,887,844.40. Following the transaction, the senior vice president now directly owns 20,758 shares in the company, valued at approximately $6,669,545.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David S. Regnery sold 29,450 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $321.25, for a total value of $9,460,812.50. Following the completion of the transaction, the chief executive officer now directly owns 132,946 shares of the company’s stock, valued at $42,708,902.50. The disclosure for this sale can be found here. Insiders have sold a total of 44,243 shares of company stock valued at $14,216,550 in the last ninety days. Corporate insiders own 0.38% of the company’s stock.

Trane Technologies Stock Up 0.5 %

Shares of TT traded up $1.50 on Tuesday, reaching $334.39. The stock had a trading volume of 196,411 shares, compared to its average volume of 1,130,457. Trane Technologies plc has a 12-month low of $184.02 and a 12-month high of $351.41. The firm has a market capitalization of $75.69 billion, a price-to-earnings ratio of 35.73, a price-to-earnings-growth ratio of 2.50 and a beta of 1.01. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.74 and a current ratio of 1.17. The company has a 50-day simple moving average of $331.50 and a 200-day simple moving average of $309.57.

Trane Technologies (NYSE:TT) last issued its earnings results on Wednesday, July 31st. The company reported $3.30 EPS for the quarter, beating the consensus estimate of $3.08 by $0.22. The business had revenue of $5.31 billion for the quarter, compared to the consensus estimate of $5.13 billion. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. The company’s revenue was up 12.8% compared to the same quarter last year. During the same period last year, the business posted $2.68 EPS. Sell-side analysts predict that Trane Technologies plc will post 10.83 EPS for the current year.

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date is Friday, September 6th. Trane Technologies’s payout ratio is 35.90%.

Trane Technologies Company 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.