Strategic Wealth Partners Ltd. Takes $216,000 Position in Trane Technologies plc (NYSE:TT)

Strategic Wealth Partners Ltd. bought a new stake in Trane Technologies plc (NYSE:TT) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 555 shares of the company’s stock, valued at approximately $216,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of TT. Fullerton Fund Management Co Ltd. bought a new stake in shares of Trane Technologies in the 4th quarter valued at about $30,198,000. GSA Capital Partners LLP purchased a new position in Trane Technologies during the 4th quarter valued at about $3,086,000. Secured Retirement Advisors LLC purchased a new position in Trane Technologies during the 4th quarter valued at about $1,220,000. Taylor Financial Group Inc. purchased a new position in Trane Technologies during the 4th quarter valued at about $379,000. Finally, V Square Quantitative Management LLC increased its holdings in Trane Technologies by 153.8% during the 4th quarter. V Square Quantitative Management LLC now owns 7,358 shares of the company’s stock valued at $1,795,000 after purchasing an additional 4,459 shares during the period. Institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Morgan Stanley assumed coverage on Trane Technologies in a report on Friday, September 6th. They set an “overweight” rating and a $425.00 price target on the stock. Barclays boosted their price target on Trane Technologies from $394.00 to $425.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Royal Bank of Canada boosted their price target on Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a report on Thursday, August 1st. The Goldman Sachs Group upped their target price on Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Stephens reiterated an “equal weight” rating and set a $350.00 target price on shares of Trane Technologies in a report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $367.33.

Trane Technologies Stock Performance

Trane Technologies stock opened at $393.46 on Friday. The company has a quick ratio of 0.84, a current ratio of 1.17 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $89.06 billion, a P/E ratio of 42.04, a PEG ratio of 2.68 and a beta of 1.01. The stock’s 50 day moving average is $358.95 and its 200 day moving average is $334.60. Trane Technologies plc has a twelve month low of $184.02 and a twelve month high of $400.23.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $3.30 earnings per share for the quarter, topping the consensus estimate of $3.08 by $0.22. The company 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 firm’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.68 EPS. On average, equities research analysts predict that Trane Technologies plc will post 10.87 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

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

Insider Activity at Trane Technologies

In related news, EVP Raymond D. Pittard sold 1,805 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total value of $593,213.25. Following the transaction, the executive vice president now directly owns 83,517 shares of the company’s stock, valued at approximately $27,447,862.05. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Raymond D. Pittard sold 1,805 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total value of $593,213.25. Following the transaction, the executive vice president now directly owns 83,517 shares of the company’s stock, valued at approximately $27,447,862.05. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 value of $9,460,812.50. Following the completion of the transaction, the chief executive officer now directly owns 132,946 shares in the company, valued at $42,708,902.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by insiders.

About Trane Technologies

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.