Trane Technologies plc (NYSE:TT) Shares Sold by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC lowered its stake in shares of Trane Technologies plc (NYSE:TT) by 9.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 59,092 shares of the company’s stock after selling 5,877 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Trane Technologies were worth $22,971,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. PFG Investments LLC raised its stake in shares of Trane Technologies by 4.8% during the 3rd quarter. PFG Investments LLC now owns 1,880 shares of the company’s stock worth $731,000 after buying an additional 86 shares during the last quarter. NorthCrest Asset Manangement LLC increased its holdings in Trane Technologies by 6.6% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 2,787 shares of the company’s stock valued at $1,083,000 after acquiring an additional 172 shares in the last quarter. Forsta AP Fonden raised its position in Trane Technologies by 5.4% during the third quarter. Forsta AP Fonden now owns 75,500 shares of the company’s stock worth $29,349,000 after acquiring an additional 3,900 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Trane Technologies by 42.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,324 shares of the company’s stock valued at $9,339,000 after purchasing an additional 7,194 shares in the last quarter. Finally, Highland Capital Management LLC acquired a new stake in shares of Trane Technologies in the third quarter valued at approximately $1,321,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Barclays lifted their price objective on Trane Technologies from $394.00 to $425.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Stephens restated an “equal weight” rating and issued a $350.00 price objective on shares of Trane Technologies in a research report on Monday, August 5th. Wells Fargo & Company lifted their price objective on Trane Technologies from $320.00 to $360.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. Robert W. Baird upped their target price on shares of Trane Technologies from $360.00 to $365.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Finally, Royal Bank of Canada lifted their price target on shares of Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $373.58.

Insider Activity at Trane Technologies

In other Trane Technologies news, CEO David S. Regnery sold 29,450 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now owns 132,946 shares in the company, valued at $42,708,902.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available 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 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 $27,447,862.05. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David S. Regnery sold 29,450 shares of the business’s 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 transaction, the chief executive officer now directly owns 132,946 shares in the company, valued at approximately $42,708,902.50. The trade was 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 insiders.

Trane Technologies Stock Performance

TT stock opened at $392.57 on Monday. 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 company has a market cap of $88.59 billion, a price-to-earnings ratio of 38.83, a PEG ratio of 2.70 and a beta of 1.01. The business has a fifty day simple moving average of $374.71 and a 200-day simple moving average of $343.06. Trane Technologies plc has a 52 week low of $184.24 and a 52 week high of $406.96.

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 analysts’ expectations of $5.13 billion. During the same quarter in the previous year, the business earned $2.68 EPS. The company’s revenue for the quarter was up 12.8% on a year-over-year basis. On average, equities research analysts expect that Trane Technologies plc will post 10.89 EPS for the current year.

Trane Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be given 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 0.86%. Trane Technologies’s dividend payout ratio (DPR) is 33.23%.

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.