Raymond James Financial Services Advisors Inc. Reduces Holdings in Trane Technologies plc (NYSE:TT)

Raymond James Financial Services Advisors Inc. reduced its position in Trane Technologies plc (NYSE:TT) by 4.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 567,134 shares of the company’s stock after selling 28,736 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Trane Technologies were worth $170,254,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Avior Wealth Management LLC boosted its holdings in shares of Trane Technologies by 58.0% in the third quarter. Avior Wealth Management LLC now owns 177 shares of the company’s stock valued at $36,000 after acquiring an additional 65 shares during the period. Caprock Group LLC raised its holdings in shares of Trane Technologies by 15.8% in the third quarter. Caprock Group LLC now owns 1,528 shares of the company’s stock valued at $310,000 after buying an additional 208 shares during the last quarter. Handelsbanken Fonder AB boosted its stake in shares of Trane Technologies by 5.8% during the third quarter. Handelsbanken Fonder AB now owns 37,311 shares of the company’s stock worth $7,571,000 after buying an additional 2,037 shares during the period. Ballentine Partners LLC grew its holdings in shares of Trane Technologies by 3.6% during the third quarter. Ballentine Partners LLC now owns 1,802 shares of the company’s stock worth $366,000 after buying an additional 62 shares during the last quarter. Finally, U.S. Capital Wealth Advisors LLC acquired a new position in Trane Technologies in the 3rd quarter valued at about $208,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Trane Technologies

In related news, CFO Christopher J. Kuehn sold 3,762 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $286.48, for a total transaction of $1,077,737.76. Following the sale, the chief financial officer now owns 61,691 shares of the company’s stock, valued at $17,673,237.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Christopher J. Kuehn sold 3,762 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $286.48, for a total transaction of $1,077,737.76. Following the sale, the chief financial officer now owns 61,691 shares in the company, valued at $17,673,237.68. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO David S. Regnery sold 6,990 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $286.19, for a total value of $2,000,468.10. Following the sale, the chief executive officer now owns 113,874 shares in the company, valued at approximately $32,589,600.06. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,874 shares of company stock valued at $8,462,825. 0.39% of the stock is owned by corporate insiders.

Analyst Ratings Changes

TT has been the subject of several recent research reports. Citigroup increased their price target on Trane Technologies from $309.00 to $355.00 and gave the stock a “buy” rating in a report on Monday, April 8th. The Goldman Sachs Group raised their target price on shares of Trane Technologies from $253.00 to $287.00 and gave the stock a “neutral” rating in a research note on Monday, February 5th. Stephens increased their price target on shares of Trane Technologies from $235.00 to $280.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 6th. Barclays lifted their price objective on Trane Technologies from $286.00 to $325.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. Finally, Royal Bank of Canada raised their price target on Trane Technologies from $231.00 to $246.00 and gave the company a “sector perform” rating in a report on Friday, February 2nd. One analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $251.83.

Trane Technologies Price Performance

TT traded up $16.50 during trading on Tuesday, reaching $317.36. 2,419,606 shares of the stock were exchanged, compared to its average volume of 1,027,150. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.13 and a quick ratio of 0.78. The company has a market capitalization of $72.06 billion, a price-to-earnings ratio of 36.10, a P/E/G ratio of 2.57 and a beta of 1.05. Trane Technologies plc has a 1 year low of $162.04 and a 1 year high of $327.09. The business’s 50 day moving average price is $293.61 and its two-hundred day moving average price is $256.33.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Thursday, February 1st. The company reported $2.17 EPS for the quarter, topping the consensus estimate of $2.13 by $0.04. Trane Technologies had a net margin of 11.45% and a return on equity of 32.01%. The business had revenue of $4.42 billion for the quarter, compared to analyst estimates of $4.43 billion. During the same period in the previous year, the firm earned $1.82 EPS. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Trane Technologies plc will post 10.2 earnings per share for the current year.

Trane Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $3.36 annualized dividend and a dividend yield of 1.06%. Trane Technologies’s dividend payout ratio is currently 38.23%.

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.