Rhumbline Advisers Reduces Holdings in Trane Technologies plc (NYSE:TT)

Rhumbline Advisers lessened its position in shares of Trane Technologies plc (NYSE:TT) by 0.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 470,237 shares of the company’s stock after selling 3,790 shares during the period. Rhumbline Advisers owned 0.21% of Trane Technologies worth $154,675,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in TT. GoalVest Advisory LLC lifted its holdings in Trane Technologies by 157.1% during the 1st quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock worth $27,000 after purchasing an additional 55 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. purchased a new stake in Trane Technologies during the 1st quarter worth about $27,000. BOK Financial Private Wealth Inc. purchased a new stake in Trane Technologies during the 1st quarter worth about $30,000. Sachetta LLC purchased a new stake in Trane Technologies during the 4th quarter worth about $27,000. Finally, Motco purchased a new stake in Trane Technologies during the 4th quarter worth about $27,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on TT shares. Royal Bank of Canada upped their target price on Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 1st. Barclays upped their target price 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 upped their target price on Trane Technologies from $310.00 to $315.00 and gave the stock an “underweight” rating in a research note on Thursday, August 1st. Robert W. Baird upped their target price on Trane Technologies from $360.00 to $365.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Finally, UBS Group upped their target price on Trane Technologies from $330.00 to $375.00 and gave the stock a “buy” rating in a research note on Monday, June 3rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Trane Technologies currently has a consensus rating of “Hold” and a consensus target price of $323.29.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, CEO David S. Regnery sold 29,450 shares of Trane Technologies stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $321.25, for a total transaction of $9,460,812.50. Following the completion of the transaction, the chief executive officer now owns 132,946 shares in the company, valued at $42,708,902.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Trane Technologies news, EVP Raymond D. Pittard sold 1,805 shares of Trane Technologies 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 transaction, the executive vice president now owns 83,517 shares in the company, valued at $27,447,862.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David S. Regnery sold 29,450 shares of Trane Technologies stock in a transaction 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 transaction, the chief executive officer now owns 132,946 shares of the company’s stock, valued at approximately $42,708,902.50. The disclosure for this sale can be found here. 0.38% of the stock is owned by company insiders.

Trane Technologies Trading Down 4.3 %

TT opened at $346.18 on Wednesday. The stock has a market cap of $78.12 billion, a PE ratio of 36.99, a PEG ratio of 2.51 and a beta of 1.01. 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 business has a 50 day moving average of $337.68 and a 200-day moving average of $318.87. Trane Technologies plc has a 52 week low of $184.02 and a 52 week high of $363.15.

Trane Technologies (NYSE:TT) last released its earnings results on Wednesday, July 31st. The company reported $3.30 EPS for the quarter, beating analysts’ consensus estimates of $3.08 by $0.22. The company 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 firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same quarter last year, the business posted $2.68 EPS. Equities research analysts predict that Trane Technologies plc will post 10.82 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The business 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. This represents a $3.36 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date of this dividend is Friday, September 6th. Trane Technologies’s payout ratio is 35.90%.

Trane Technologies 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.