Confluence Wealth Services Inc. Boosts Holdings in Trane Technologies plc (NYSE:TT)

Confluence Wealth Services Inc. boosted its stake in Trane Technologies plc (NYSE:TT) by 43.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,663 shares of the company’s stock after acquiring an additional 1,109 shares during the period. Confluence Wealth Services Inc.’s holdings in Trane Technologies were worth $1,424,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. DT Investment Partners LLC purchased a new position in shares of Trane Technologies during the third quarter worth approximately $36,000. Fortitude Family Office LLC raised its holdings in shares of Trane Technologies by 63.2% in the second quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock valued at $37,000 after buying an additional 43 shares during the last quarter. Triad Wealth Partners LLC purchased a new stake in shares of Trane Technologies in the second quarter valued at about $39,000. Quarry LP purchased a new position in shares of Trane Technologies during the second quarter worth about $39,000. Finally, Valley Wealth Managers Inc. acquired a new position in Trane Technologies in the 2nd quarter valued at about $51,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Stock Performance

Shares of TT opened at $376.15 on Friday. Trane Technologies plc has a 1 year low of $211.31 and a 1 year high of $406.96. The company’s 50 day simple moving average is $377.83 and its 200 day simple moving average is $345.71. The company has a market capitalization of $84.64 billion, a price-to-earnings ratio of 34.89, a PEG ratio of 2.51 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.84 and a current ratio of 1.22.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share for the quarter, topping analysts’ consensus estimates of $3.23 by $0.14. The company had revenue of $5.44 billion for the quarter, compared to analyst estimates of $5.32 billion. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.79 EPS. On average, sell-side analysts predict that Trane Technologies plc will post 11.06 EPS for the current year.

Trane Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be given a $0.84 dividend. The ex-dividend date is Friday, December 6th. This represents a $3.36 annualized dividend and a dividend yield of 0.89%. Trane Technologies’s dividend payout ratio is presently 31.17%.

Insider Activity at Trane Technologies

In other news, EVP Raymond D. Pittard sold 1,805 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president now directly 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 filing with the SEC, which is available at this link. In other Trane Technologies news, CEO David S. Regnery sold 29,450 shares of Trane Technologies stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 132,946 shares of the company’s stock, valued at $42,708,902.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Raymond D. Pittard sold 1,805 shares of the business’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 of the company’s stock, valued at approximately $27,447,862.05. This represents 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 owned by insiders.

Analyst Ratings Changes

A number of analysts have weighed in on TT shares. Mizuho increased their price objective on Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Royal Bank of Canada lifted their price objective on shares of Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a research report on Thursday, August 1st. Stephens restated an “equal weight” rating and set a $350.00 price objective on shares of Trane Technologies in a research report on Monday, August 5th. Barclays lifted 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 increased their price target on shares of Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $380.15.

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.