Sigma Planning Corp Sells 2,968 Shares of Trane Technologies plc $TT

Sigma Planning Corp lowered its stake in Trane Technologies plc (NYSE:TT) by 85.8% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 493 shares of the company’s stock after selling 2,968 shares during the period. Sigma Planning Corp’s holdings in Trane Technologies were worth $205,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Checchi Capital Advisers LLC boosted its holdings in shares of Trane Technologies by 13.0% during the first quarter. Checchi Capital Advisers LLC now owns 2,050 shares of the company’s stock worth $854,000 after acquiring an additional 236 shares during the period. Avantax Planning Partners Inc. increased its stake in shares of Trane Technologies by 1.0% during the first quarter. Avantax Planning Partners Inc. now owns 2,694 shares of the company’s stock worth $1,123,000 after purchasing an additional 26 shares during the period. Nicholson Wealth Management Group LLC bought a new position in shares of Trane Technologies during the first quarter worth approximately $1,644,000. AMG National Trust Bank lifted its holdings in Trane Technologies by 2.2% during the 1st quarter. AMG National Trust Bank now owns 10,200 shares of the company’s stock worth $4,251,000 after purchasing an additional 220 shares during the last quarter. Finally, Mattern Capital Management LLC bought a new stake in Trane Technologies in the 1st quarter valued at $9,850,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on TT shares. Sanford C. Bernstein set a $555.00 price objective on Trane Technologies in a report on Thursday, July 9th. KeyCorp boosted their target price on shares of Trane Technologies from $525.00 to $555.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Citigroup upped their price target on shares of Trane Technologies from $525.00 to $570.00 and gave the company a “buy” rating in a research note on Friday, May 1st. JPMorgan Chase & Co. raised their price target on shares of Trane Technologies from $460.00 to $476.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Finally, Evercore started coverage on shares of Trane Technologies in a research note on Monday, April 13th. They issued an “outperform” rating and a $535.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $516.67.

Trane Technologies Price Performance

Shares of NYSE:TT opened at $474.20 on Thursday. The firm has a 50 day moving average of $469.85 and a 200-day moving average of $449.07. The stock has a market capitalization of $104.82 billion, a PE ratio of 36.67, a PEG ratio of 2.16 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 12 month low of $348.06 and a 12 month high of $505.87.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Friday, May 1st. The company reported $2.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.10. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The business had revenue of $4.97 billion for the quarter, compared to analyst estimates of $4.81 billion. During the same quarter last year, the business posted $2.45 EPS. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. On average, equities research analysts predict that Trane Technologies plc will post 14.89 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 4th will be paid a $1.05 dividend. The ex-dividend date is Friday, September 4th. This represents a $4.20 annualized dividend and a dividend yield of 0.9%. Trane Technologies’s dividend payout ratio (DPR) is presently 32.48%.

Insider Activity at Trane Technologies

In related news, insider Donald E. Simmons sold 4,593 shares of the company’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 in the company, valued at $1,909,500. This represents a 54.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, 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.

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.