Wetzel Investment Advisors Inc. Lowers Stake in Trane Technologies plc (NYSE:TT)

Wetzel Investment Advisors Inc. trimmed its holdings in Trane Technologies plc (NYSE:TT) by 5.2% in the third quarter, Holdings Channel.com reports. The institutional investor owned 1,528 shares of the company’s stock after selling 83 shares during the quarter. Wetzel Investment Advisors Inc.’s holdings in Trane Technologies were worth $595,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in TT. Norden Group LLC purchased a new position in Trane Technologies in the 1st quarter valued at $646,000. Private Advisor Group LLC increased its stake in shares of Trane Technologies by 4.2% during the first quarter. Private Advisor Group LLC now owns 8,341 shares of the company’s stock worth $2,504,000 after acquiring an additional 334 shares during the period. Diversify Advisory Services LLC purchased a new position in Trane Technologies during the first quarter worth about $215,000. Fidelis Capital Partners LLC boosted its holdings in Trane Technologies by 10.7% in the 1st quarter. Fidelis Capital Partners LLC now owns 929 shares of the company’s stock valued at $279,000 after purchasing an additional 90 shares in the last quarter. Finally, Financial Counselors Inc. increased its position in Trane Technologies by 3.1% during the 1st quarter. Financial Counselors Inc. now owns 2,382 shares of the company’s stock worth $715,000 after purchasing an additional 71 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on TT shares. 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 research note on Thursday, August 1st. Mizuho upped their price target on shares of Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Robert W. Baird decreased their price objective on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a report on Thursday. Barclays increased their target price on shares of Trane Technologies from $425.00 to $440.00 and gave the company an “overweight” rating in a report on Thursday. Finally, The Goldman Sachs Group upped their price target on Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $380.15.

Trane Technologies Trading Up 1.6 %

Shares of TT opened at $376.15 on Monday. The firm has a market capitalization of $84.64 billion, a P/E ratio of 34.89, 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. The stock’s fifty day simple moving average is $377.83 and its 200 day simple moving average is $346.08. Trane Technologies plc has a twelve month low of $211.31 and a twelve month high of $406.96.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $5.32 billion. During the same period in the previous year, the firm earned $2.79 earnings per share. Trane Technologies’s revenue for the quarter was up 10.0% on a year-over-year basis. On average, equities research analysts forecast that Trane Technologies plc will post 11.06 earnings per share for the current year.

Trane Technologies Dividend Announcement

The business 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 Activity

In other Trane Technologies news, EVP Raymond D. Pittard sold 1,805 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was 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 in the company, valued at $27,447,862.05. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO David S. Regnery sold 29,450 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $321.25, for a total value 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 approximately $42,708,902.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Raymond D. Pittard sold 1,805 shares of the company’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 directly owns 83,517 shares in the company, valued at approximately $27,447,862.05. The trade was 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.

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.