Walter Public Investments Inc. Raises Stock Holdings in Trane Technologies plc (NYSE:TT)

Walter Public Investments Inc. grew its stake in shares of Trane Technologies plc (NYSE:TT) by 1.3% during the third quarter, Holdings Channel.com reports. The institutional investor owned 55,868 shares of the company’s stock after acquiring an additional 717 shares during the quarter. Trane Technologies comprises approximately 3.8% of Walter Public Investments Inc.’s investment portfolio, making the stock its 7th largest position. Walter Public Investments Inc.’s holdings in Trane Technologies were worth $21,718,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. HighPoint Advisor Group LLC bought a new position in shares of Trane Technologies during the 4th quarter valued at about $588,000. Nomura Holdings Inc. bought a new position in shares of Trane Technologies during the 4th quarter valued at about $1,120,000. CWM LLC lifted its holdings in shares of Trane Technologies by 4.3% during the 1st quarter. CWM LLC now owns 5,786 shares of the company’s stock valued at $1,737,000 after purchasing an additional 240 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Trane Technologies by 12.8% during the 1st quarter. GAMMA Investing LLC now owns 1,769 shares of the company’s stock valued at $531,000 after purchasing an additional 201 shares in the last quarter. Finally, Rise Advisors LLC lifted its holdings in shares of Trane Technologies by 235.3% during the 1st quarter. Rise Advisors LLC now owns 171 shares of the company’s stock valued at $51,000 after purchasing an additional 120 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TT. Mizuho lifted their price objective on Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a report on Thursday. The Goldman Sachs Group boosted their target price on Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Robert W. Baird boosted their target price on Trane Technologies from $360.00 to $365.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Morgan Stanley began coverage on Trane Technologies in a research note on Friday, September 6th. They issued an “overweight” rating and a $425.00 target price on the stock. Finally, Royal Bank of Canada boosted their target price 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. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $373.58.

Trane Technologies Stock Down 0.5 %

TT stock opened at $395.37 on Thursday. The company has a current ratio of 1.17, a quick ratio of 0.84 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $89.49 billion, a PE ratio of 42.24, a PEG 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 business’s 50 day simple moving average is $366.53 and its 200 day simple moving average is $338.04.

Trane Technologies (NYSE:TT) last posted its earnings results on Wednesday, July 31st. The company reported $3.30 earnings per share for the quarter, topping analysts’ consensus estimates of $3.08 by $0.22. The business had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.13 billion. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. The firm’s revenue was up 12.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.68 EPS. As a group, research analysts anticipate that Trane Technologies plc will post 10.88 EPS for the current year.

Trane Technologies Dividend Announcement

The company also recently declared 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. The ex-dividend date is Friday, December 6th. This represents a $3.36 annualized dividend and a yield of 0.85%. Trane Technologies’s dividend payout ratio (DPR) is presently 35.90%.

Insider Activity at Trane Technologies

In related news, EVP Raymond D. Pittard sold 1,805 shares of the business’s stock in a transaction 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 sale, the executive vice president now directly owns 83,517 shares in the company, valued at $27,447,862.05. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO David S. Regnery sold 29,450 shares of the company’s stock in a transaction on 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 sale, the chief executive officer now directly owns 132,946 shares in the company, valued at approximately $42,708,902.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Raymond D. Pittard sold 1,805 shares of the company’s stock in a transaction 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 sale, the executive vice president now owns 83,517 shares of the company’s stock, 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. 0.38% of the stock is currently owned by corporate 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.