Cambridge Investment Research Advisors Inc. Purchases 1,975 Shares of Trane Technologies plc (NYSE:TT)

Cambridge Investment Research Advisors Inc. raised its position in Trane Technologies plc (NYSE:TT) by 18.4% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 12,685 shares of the company’s stock after acquiring an additional 1,975 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Trane Technologies were worth $4,172,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the company. PFG Private Wealth Management LLC increased its stake in Trane Technologies by 4.7% in the 2nd quarter. PFG Private Wealth Management LLC now owns 706 shares of the company’s stock valued at $232,000 after buying an additional 32 shares during the last quarter. Center for Financial Planning Inc. increased its position in shares of Trane Technologies by 1.7% in the first quarter. Center for Financial Planning Inc. now owns 2,080 shares of the company’s stock valued at $624,000 after acquiring an additional 34 shares during the last quarter. Muirfield Wealth Advisors LLC raised its holdings in Trane Technologies by 4.1% during the second quarter. Muirfield Wealth Advisors LLC now owns 939 shares of the company’s stock worth $309,000 after acquiring an additional 37 shares in the last quarter. Pure Financial Advisors LLC boosted its position in Trane Technologies by 5.2% during the second quarter. Pure Financial Advisors LLC now owns 765 shares of the company’s stock valued at $252,000 after purchasing an additional 38 shares during the last quarter. Finally, Dorsey & Whitney Trust CO LLC grew its stake in Trane Technologies by 2.3% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 1,760 shares of the company’s stock valued at $528,000 after purchasing an additional 39 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Barclays upped their price objective on 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 increased their price target on shares of Trane Technologies from $310.00 to $315.00 and gave the company an “underweight” rating in a research note on Thursday, August 1st. 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. UBS Group raised their target price on shares of Trane Technologies from $330.00 to $375.00 and gave the company a “buy” rating in a research note on Monday, June 3rd. Finally, JPMorgan Chase & Co. boosted their price target on Trane Technologies from $247.00 to $300.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $323.29.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, EVP Raymond D. Pittard sold 1,805 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was 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 directly owns 83,517 shares in the company, valued at $27,447,862.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Christopher J. Kuehn sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $318.67, for a total value of $1,274,680.00. Following the sale, the chief financial officer now directly owns 61,293 shares in the company, valued at approximately $19,532,240.31. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 transaction of $593,213.25. Following the transaction, the executive vice president now owns 83,517 shares of the company’s stock, valued at $27,447,862.05. 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. 0.38% of the stock is currently owned by company insiders.

Trane Technologies Stock Up 0.8 %

NYSE TT opened at $355.02 on Friday. The company has a market cap of $80.36 billion, a price-to-earnings ratio of 37.93, a PEG ratio of 2.50 and a beta of 1.01. Trane Technologies plc has a 1-year low of $184.02 and a 1-year high of $359.90. The company has a current ratio of 1.17, a quick ratio of 0.74 and a debt-to-equity ratio of 0.62. The company has a 50 day moving average of $336.07 and a 200-day moving average of $316.18.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $3.30 earnings per share for the quarter, beating the consensus estimate of $3.08 by $0.22. The firm had revenue of $5.31 billion during the quarter, compared to analysts’ expectations of $5.13 billion. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. The company’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.68 EPS. On average, equities research analysts expect that Trane Technologies plc will post 10.83 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be paid a dividend of $0.84 per share. The ex-dividend date is Friday, September 6th. This represents a $3.36 dividend on an annualized basis and a yield of 0.95%. Trane Technologies’s payout ratio is 35.90%.

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.