Trane Technologies plc (NYSE:TT) Shares Sold by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC cut its holdings in Trane Technologies plc (NYSE:TT) by 30.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,710 shares of the company’s stock after selling 1,212 shares during the period. Exchange Traded Concepts LLC’s holdings in Trane Technologies were worth $1,053,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in Trane Technologies by 0.9% during the first quarter. Vanguard Group Inc. now owns 18,887,514 shares of the company’s stock worth $5,670,032,000 after purchasing an additional 174,251 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Trane Technologies by 0.5% during the 1st quarter. JPMorgan Chase & Co. now owns 17,393,733 shares of the company’s stock worth $5,221,599,000 after buying an additional 80,536 shares during the last quarter. Mackenzie Financial Corp grew its position in shares of Trane Technologies by 0.3% in the 2nd quarter. Mackenzie Financial Corp now owns 1,085,468 shares of the company’s stock valued at $357,043,000 after buying an additional 2,898 shares during the last quarter. TD Asset Management Inc raised its stake in Trane Technologies by 41.2% during the 1st quarter. TD Asset Management Inc now owns 1,060,632 shares of the company’s stock worth $318,402,000 after acquiring an additional 309,738 shares in the last quarter. Finally, Raymond James & Associates lifted its position in Trane Technologies by 2.2% in the second quarter. Raymond James & Associates now owns 1,044,405 shares of the company’s stock valued at $343,536,000 after acquiring an additional 22,023 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TT. Robert W. Baird boosted their target price on Trane Technologies from $360.00 to $365.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Royal Bank of Canada increased 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. Barclays upped their price target on shares of Trane Technologies from $394.00 to $425.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Stephens reissued an “equal weight” rating and set a $350.00 price objective on shares of Trane Technologies in a research report on Monday, August 5th. Finally, Morgan Stanley initiated coverage on shares of Trane Technologies in a report on Friday, September 6th. They issued an “overweight” rating and a $425.00 target price for the company. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $367.33.

Insider Activity

In other Trane Technologies news, CEO David S. Regnery sold 29,450 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 132,946 shares in the company, valued at approximately $42,708,902.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related 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 sale, the executive vice president now directly owns 83,517 shares in the company, valued at $27,447,862.05. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David S. Regnery sold 29,450 shares of the firm’s stock in a transaction dated 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 transaction, 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. Insiders own 0.38% of the company’s stock.

Trane Technologies Trading Down 0.5 %

NYSE TT opened at $395.37 on Thursday. 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 stock has a market capitalization of $89.49 billion, a P/E ratio of 42.24, a P/E/G ratio of 2.75 and a beta of 1.01. Trane Technologies plc has a 52-week low of $184.02 and a 52-week high of $406.96. The firm has a 50-day moving average price of $366.53 and a 200 day moving average price of $338.04.

Trane Technologies (NYSE:TT) last issued its earnings results on Wednesday, July 31st. The company reported $3.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.08 by $0.22. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. The business had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.13 billion. During the same period in the prior year, the business posted $2.68 EPS. The company’s revenue for the quarter was up 12.8% on a year-over-year basis. Equities research analysts expect that Trane Technologies plc will post 10.88 EPS for the current year.

Trane Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be paid a dividend of $0.84 per share. The ex-dividend date is Friday, December 6th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.85%. Trane Technologies’s dividend payout ratio (DPR) is presently 35.90%.

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.