Essex Financial Services Inc. Boosts Stock Holdings in Trane Technologies plc (NYSE:TT)

Essex Financial Services Inc. raised its holdings in shares of Trane Technologies plc (NYSE:TT) by 45.9% during the second quarter, according to its most recent filing with the SEC. The firm owned 3,242 shares of the company’s stock after purchasing an additional 1,020 shares during the period. Essex Financial Services Inc.’s holdings in Trane Technologies were worth $1,067,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. GoalVest Advisory LLC grew its position in shares of Trane Technologies by 157.1% in the 1st quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock worth $27,000 after buying an additional 55 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of Trane Technologies in the 1st quarter worth approximately $27,000. BOK Financial Private Wealth Inc. acquired a new stake in Trane Technologies in the 1st quarter worth approximately $30,000. Sachetta LLC acquired a new stake in Trane Technologies in the 4th quarter worth approximately $27,000. Finally, Motco acquired a new stake in Trane Technologies in the 4th quarter worth approximately $27,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Transactions at Trane Technologies

In other news, EVP Raymond D. Pittard sold 1,805 shares of the company’s 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 sale, the executive vice president now owns 83,517 shares of the company’s stock, valued at $27,447,862.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, SVP Evan M. Turtz sold 8,988 shares of the business’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $321.30, for a total transaction of $2,887,844.40. Following the transaction, the senior vice president now owns 20,758 shares of the company’s stock, valued at approximately $6,669,545.40. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Raymond D. Pittard sold 1,805 shares of the company’s stock in a transaction dated 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 directly owns 83,517 shares in the company, valued at approximately $27,447,862.05. The disclosure for this sale can be found here. Insiders sold 44,243 shares of company stock valued at $14,216,550 over the last 90 days. 0.38% of the stock is currently owned by corporate insiders.

Trane Technologies Stock Performance

Shares of TT traded up $6.64 during trading hours on Friday, hitting $361.66. The stock had a trading volume of 2,192,458 shares, compared to its average volume of 1,020,909. The firm has a market capitalization of $81.62 billion, a price-to-earnings ratio of 38.64, a PEG ratio of 2.51 and a beta of 1.01. The firm has a 50-day moving average price of $337.00 and a 200 day moving average price of $317.41. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.84 and a current ratio of 1.17. Trane Technologies plc has a fifty-two week low of $184.02 and a fifty-two week high of $362.43.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $3.30 EPS for the quarter, topping the consensus estimate of $3.08 by $0.22. The company had revenue of $5.31 billion during the quarter, compared to analyst estimates of $5.13 billion. Trane Technologies had a net margin of 12.33% and a return on equity of 33.97%. The firm’s revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.68 EPS. As a group, research analysts anticipate that Trane Technologies plc will post 10.82 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 dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date of this dividend is Friday, September 6th. Trane Technologies’s payout ratio is 35.90%.

Analyst Upgrades and Downgrades

TT has been the subject of a number of recent analyst reports. UBS Group lifted their target price on shares of Trane Technologies from $330.00 to $375.00 and gave the stock a “buy” rating in a research note on Monday, June 3rd. Robert W. Baird lifted their target price on shares of Trane Technologies from $360.00 to $365.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Barclays lifted their target price on shares of Trane Technologies from $385.00 to $394.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Wells Fargo & Company lifted their target price on shares of Trane Technologies from $310.00 to $315.00 and gave the stock an “underweight” rating in a research note on Thursday, August 1st. Finally, Stephens restated an “equal weight” rating and set a $350.00 price objective on shares of Trane Technologies in a research note on Monday, August 5th. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $323.29.

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.