Farther Finance Advisors LLC Purchases 689 Shares of Trane Technologies plc (NYSE:TT)

Farther Finance Advisors LLC lifted its holdings in shares of Trane Technologies plc (NYSE:TT) by 34.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,716 shares of the company’s stock after buying an additional 689 shares during the quarter. Farther Finance Advisors LLC’s holdings in Trane Technologies were worth $1,056,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Empowered Funds LLC raised its holdings in shares of Trane Technologies by 138.0% during the first quarter. Empowered Funds LLC now owns 6,667 shares of the company’s stock worth $2,001,000 after acquiring an additional 3,866 shares during the period. Sei Investments Co. raised its stake in shares of Trane Technologies by 379.2% in the 1st quarter. Sei Investments Co. now owns 306,165 shares of the company’s stock valued at $91,909,000 after purchasing an additional 242,271 shares during the period. Albar Capital Ltd bought a new stake in shares of Trane Technologies in the second quarter valued at about $14,556,000. M&G Plc acquired a new position in shares of Trane Technologies during the first quarter worth about $8,939,000. Finally, Gradient Investments LLC grew its holdings in shares of Trane Technologies by 7,988.0% during the second quarter. Gradient Investments LLC now owns 2,022 shares of the company’s stock worth $665,000 after buying an additional 1,997 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TT has been the subject of several research reports. Stephens reaffirmed an “equal weight” rating and set a $350.00 price target on shares of Trane Technologies in a research note on Monday, August 5th. HSBC downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 target price for the company. in a research report on Thursday, October 31st. The Goldman Sachs Group boosted their price target on shares of Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Royal Bank of Canada raised their price objective on Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a report on Thursday, August 1st. Finally, Robert W. Baird dropped their target price on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $380.15.

Trane Technologies Stock Up 0.2 %

TT opened at $376.99 on Tuesday. The stock’s fifty day simple moving average is $378.36 and its 200 day simple moving average is $346.70. Trane Technologies plc has a 1-year low of $214.35 and a 1-year high of $406.96. The stock has a market cap of $84.83 billion, a PE ratio of 34.97, a price-to-earnings-growth ratio of 2.51 and a beta of 1.02. The company has a current ratio of 1.22, a quick ratio of 0.84 and a debt-to-equity ratio of 0.57.

Trane Technologies (NYSE:TT) last posted its earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.23 by $0.14. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The company had revenue of $5.44 billion during the quarter, compared to analysts’ expectations of $5.32 billion. During the same quarter last year, the company posted $2.79 EPS. Trane Technologies’s quarterly revenue was up 10.0% compared to the same quarter last year. As a group, research analysts expect that Trane Technologies plc will post 11.06 earnings per share for the current year.

Trane Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be given a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend is Friday, December 6th. Trane Technologies’s payout ratio is 31.17%.

Insider Transactions at Trane Technologies

In other news, EVP Raymond D. Pittard sold 1,805 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total value of $593,213.25. Following the completion of the sale, the executive vice president now owns 83,517 shares of the company’s stock, valued at approximately $27,447,862.05. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.38% of the stock is owned by corporate 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.