Claro Advisors LLC Buys Shares of 1,134 Trane Technologies plc (NYSE:TT)

Claro Advisors LLC purchased a new position in shares of Trane Technologies plc (NYSE:TT) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 1,134 shares of the company’s stock, valued at approximately $441,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. GoalVest Advisory LLC increased its stake in Trane Technologies by 157.1% in the first quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock valued at $27,000 after purchasing an additional 55 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of Trane Technologies during the 1st quarter valued at about $27,000. BOK Financial Private Wealth Inc. purchased a new position in shares of Trane Technologies during the 1st quarter worth about $30,000. Fortitude Family Office LLC boosted its position in shares of Trane Technologies by 63.2% in the second quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock worth $37,000 after acquiring an additional 43 shares during the last quarter. Finally, Triad Wealth Partners LLC purchased a new stake in Trane Technologies in the second quarter valued at approximately $39,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on TT. Mizuho increased their price target on shares of Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a research note on Thursday. Wells Fargo & Company lifted their target price on Trane Technologies from $320.00 to $360.00 and gave the company an “underweight” rating in a report on Monday, October 7th. Morgan Stanley assumed coverage on Trane Technologies in a research note on Friday, September 6th. They set an “overweight” rating and a $425.00 price target for the company. Stephens reaffirmed an “equal weight” rating and issued a $350.00 price objective on shares of Trane Technologies in a research note on Monday, August 5th. Finally, Royal Bank of Canada increased their target price on shares of Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $373.58.

Trane Technologies Trading Up 0.6 %

TT opened at $402.54 on Friday. The firm has a market capitalization of $91.12 billion, a P/E ratio of 43.01, a P/E/G ratio of 2.75 and a beta of 1.01. The firm’s 50 day moving average is $369.37 and its 200-day moving average is $339.50. The company has a quick ratio of 0.84, a current ratio of 1.17 and a debt-to-equity ratio of 0.62. Trane Technologies plc has a 52-week low of $184.02 and a 52-week high of $406.96.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $3.30 EPS for the quarter, topping analysts’ consensus estimates of $3.08 by $0.22. The firm had revenue of $5.31 billion for 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 business posted $2.68 EPS. Analysts expect that Trane Technologies plc will post 10.88 EPS 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. Shareholders of record on Friday, December 6th will be paid a dividend of $0.84 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.36 dividend on an annualized basis and a yield of 0.83%. Trane Technologies’s dividend payout ratio (DPR) is presently 35.90%.

Insiders Place Their Bets

In other news, CEO David S. Regnery sold 29,450 shares of the firm’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 transaction of $9,460,812.50. Following the completion of the sale, the chief executive officer now owns 132,946 shares of the company’s stock, valued at approximately $42,708,902.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Trane Technologies news, EVP Raymond D. Pittard sold 1,805 shares of the 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO David S. Regnery sold 29,450 shares of the business’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 sale, the chief executive officer now owns 132,946 shares of the company’s stock, 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 owned by company insiders.

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.