Trane Technologies plc (NYSE:TT) Stake Increased by Raleigh Capital Management Inc.

Raleigh Capital Management Inc. increased its stake in Trane Technologies plc (NYSE:TT) by 9.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 458 shares of the company’s stock after buying an additional 40 shares during the period. Raleigh Capital Management Inc.’s holdings in Trane Technologies were worth $178,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Trane Technologies by 0.9% in the first quarter. Vanguard Group Inc. now owns 18,887,514 shares of the company’s stock worth $5,670,032,000 after acquiring an additional 174,251 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Trane Technologies by 0.5% in the first quarter. JPMorgan Chase & Co. now owns 17,393,733 shares of the company’s stock worth $5,221,599,000 after acquiring an additional 80,536 shares during the last quarter. Mackenzie Financial Corp lifted its holdings in Trane Technologies by 0.3% in the second quarter. Mackenzie Financial Corp now owns 1,085,468 shares of the company’s stock worth $357,043,000 after acquiring an additional 2,898 shares during the last quarter. Raymond James & Associates lifted its holdings in Trane Technologies by 3.1% in the third quarter. Raymond James & Associates now owns 1,076,484 shares of the company’s stock worth $418,462,000 after acquiring an additional 32,079 shares during the last quarter. Finally, TD Asset Management Inc lifted its holdings in Trane Technologies by 41.2% in the first 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 during the last quarter. Institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on TT shares. Stephens reissued an “equal weight” rating and issued a $350.00 target price on shares of Trane Technologies in a report on Monday, August 5th. Robert W. Baird lifted their price target on Trane Technologies from $360.00 to $365.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. The Goldman Sachs Group lifted their price target on Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Morgan Stanley began coverage on Trane Technologies in a report on Friday, September 6th. They set an “overweight” rating and a $425.00 price target on the stock. Finally, Royal Bank of Canada lifted their price target on Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $373.58.

Insider Buying and Selling

In related news, EVP Raymond D. Pittard sold 1,805 shares of the firm’s 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 transaction, the executive vice president now owns 83,517 shares of the company’s stock, valued at approximately $27,447,862.05. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed 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 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 $42,708,902.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Raymond D. Pittard sold 1,805 shares of Trane Technologies stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total transaction of $593,213.25. Following the sale, the executive vice president now directly 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 disclosure for this sale can be found here. Company insiders own 0.38% of the company’s stock.

Trane Technologies Trading Down 2.1 %

Trane Technologies stock opened at $392.20 on Wednesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.84 and a current ratio of 1.17. The firm has a market cap of $88.78 billion, a price-to-earnings ratio of 41.90, a price-to-earnings-growth ratio of 2.75 and a beta of 1.01. Trane Technologies plc has a 1 year low of $184.02 and a 1 year high of $406.96. The firm’s 50 day moving average price is $371.79 and its two-hundred day moving average price is $341.11.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $3.30 earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarterly 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 earnings per share. On average, research analysts predict that Trane Technologies plc will post 10.88 EPS for the current fiscal 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 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.