Old Port Advisors Purchases New Stake in Trane Technologies plc (NYSE:TT)

Old Port Advisors purchased a new stake in Trane Technologies plc (NYSE:TT) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 633 shares of the company’s stock, valued at approximately $246,000.

Several other hedge funds have also bought and sold shares of TT. BOK Financial Private Wealth Inc. acquired a new stake in Trane Technologies in the 1st quarter valued at $30,000. DT Investment Partners LLC purchased a new position in Trane Technologies during the 3rd quarter worth $36,000. Fortitude Family Office LLC boosted its holdings in Trane Technologies by 63.2% during the 2nd 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. Triad Wealth Partners LLC purchased a new position in Trane Technologies during the 2nd quarter worth $39,000. Finally, Quarry LP purchased a new position in Trane Technologies during the 2nd quarter worth $39,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Trading Down 0.4 %

Shares of Trane Technologies stock opened at $391.03 on Wednesday. Trane Technologies plc has a 52-week low of $185.75 and a 52-week high of $406.96. The stock’s 50-day simple moving average is $376.49 and its 200 day simple moving average is $344.40. The stock has a market capitalization of $88.51 billion, a P/E ratio of 41.78, a P/E/G ratio of 2.70 and a beta of 1.01. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.84 and a current ratio of 1.17.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $3.30 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $5.13 billion. During the same period in the previous year, the business posted $2.68 EPS. The firm’s quarterly revenue was up 12.8% compared to the same quarter last year. As a group, research analysts anticipate that Trane Technologies plc will post 10.89 EPS for the current year.

Trane Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date is Friday, December 6th. Trane Technologies’s dividend payout ratio is currently 35.90%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Barclays lifted their price objective on shares of Trane Technologies from $394.00 to $425.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Royal Bank of Canada lifted their price objective 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. Robert W. Baird lifted their price objective on shares of Trane Technologies from $360.00 to $365.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Morgan Stanley initiated coverage on shares of Trane Technologies in a report on Friday, September 6th. They set an “overweight” rating and a $425.00 price objective on the stock. Finally, Stephens reiterated an “equal weight” rating and set a $350.00 target price on shares of Trane Technologies in a research note on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $373.58.

Insider Activity at Trane Technologies

In related news, EVP Raymond D. Pittard sold 1,805 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was 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 approximately $27,447,862.05. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Trane Technologies news, CEO David S. Regnery sold 29,450 shares of Trane Technologies 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 completion of the transaction, the chief executive officer now owns 132,946 shares of the company’s stock, valued at $42,708,902.50. 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 through this link. Also, EVP Raymond D. Pittard sold 1,805 shares of Trane Technologies 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 transaction, the executive vice president now directly owns 83,517 shares of the company’s stock, valued at $27,447,862.05. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by company 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.