Trane Technologies plc (NYSE:TT) Shares Sold by Financial Insights Inc.

Financial Insights Inc. cut its position in shares of Trane Technologies plc (NYSE:TT) by 50.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,570 shares of the company’s stock after selling 2,609 shares during the quarter. Financial Insights Inc.’s holdings in Trane Technologies were worth $999,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Eastern Bank acquired a new stake in Trane Technologies during the third quarter worth about $250,000. Signaturefd LLC increased its stake in Trane Technologies by 71.0% during the third quarter. Signaturefd LLC now owns 10,213 shares of the company’s stock worth $3,970,000 after acquiring an additional 4,239 shares during the last quarter. Sequoia Financial Advisors LLC boosted its position in shares of Trane Technologies by 5.2% in the third quarter. Sequoia Financial Advisors LLC now owns 5,023 shares of the company’s stock worth $1,953,000 after buying an additional 250 shares during the period. Foundations Investment Advisors LLC boosted its position in shares of Trane Technologies by 93.6% in the third quarter. Foundations Investment Advisors LLC now owns 1,462 shares of the company’s stock worth $568,000 after buying an additional 707 shares during the period. Finally, Raleigh Capital Management Inc. boosted its position in shares of Trane Technologies by 9.6% in the third quarter. Raleigh Capital Management Inc. now owns 458 shares of the company’s stock worth $178,000 after buying an additional 40 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Trane Technologies Trading Down 2.1 %

Shares of TT opened at $392.20 on Wednesday. The stock has a 50-day moving average price of $371.79 and a 200 day moving average price of $341.11. Trane Technologies plc has a one year low of $184.02 and a one year high of $406.96. The company has a market capitalization of $88.78 billion, a P/E ratio of 41.90, a P/E/G ratio of 2.75 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 the consensus estimate of $3.08 by $0.22. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. The firm had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.13 billion. During the same quarter in the prior year, the firm posted $2.68 earnings per share. Trane Technologies’s revenue for the quarter was up 12.8% compared to the same quarter last year. Sell-side analysts forecast 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. Shareholders of record on Friday, December 6th will be paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 0.86%. The ex-dividend date is Friday, December 6th. Trane Technologies’s payout ratio is currently 35.90%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company upped their target price on Trane Technologies from $320.00 to $360.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. Royal Bank of Canada upped their target price on Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 1st. Stephens reaffirmed an “equal weight” rating and issued a $350.00 target price on shares of Trane Technologies in a research report on Monday, August 5th. Barclays upped their target price on Trane Technologies from $394.00 to $425.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Finally, Mizuho upped their target price on Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Trane Technologies currently has an average rating of “Hold” and a consensus target price of $373.58.

Insider Buying and Selling at Trane Technologies

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 transaction of $593,213.25. Following the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, EVP Raymond D. Pittard sold 1,805 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was 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 in the company, valued at approximately $27,447,862.05. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David S. Regnery sold 29,450 shares of the stock in a transaction that occurred on 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 sale, 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 disclosure for this sale can be found here. 0.38% of the stock is currently owned by insiders.

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.