Trane Technologies plc (NYSE:TT) Stock Position Cut by Means Investment CO. Inc.

Means Investment CO. Inc. trimmed its stake in shares of Trane Technologies plc (NYSE:TT) by 5.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,126 shares of the company’s stock after selling 61 shares during the quarter. Means Investment CO. Inc.’s holdings in Trane Technologies were worth $438,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. GoalVest Advisory LLC grew its holdings in Trane Technologies by 157.1% during the first quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock worth $27,000 after acquiring an additional 55 shares during the period. Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of Trane Technologies in the 1st quarter worth approximately $27,000. BOK Financial Private Wealth Inc. bought a new stake in shares of Trane Technologies in the 1st quarter worth approximately $30,000. Fortitude Family Office LLC lifted its stake in Trane Technologies by 63.2% during the second quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock valued at $37,000 after purchasing an additional 43 shares during the last quarter. Finally, Triad Wealth Partners LLC bought a new stake in Trane Technologies during the second quarter worth approximately $39,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Trane Technologies Stock Up 0.6 %

TT stock opened at $402.54 on Friday. The company has a 50 day moving average of $369.37 and a two-hundred day moving average of $339.50. The company has a market cap of $91.12 billion, a price-to-earnings ratio of 43.01, a PEG ratio of 2.75 and a beta of 1.01. Trane Technologies plc has a 12-month low of $184.02 and a 12-month high of $406.96. The company has a quick ratio of 0.84, a current ratio of 1.17 and a debt-to-equity ratio of 0.62.

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, topping 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 business had revenue of $5.31 billion during the quarter, compared to analyst estimates of $5.13 billion. During the same period last year, the company earned $2.68 earnings per share. Trane Technologies’s quarterly revenue was up 12.8% compared to the same quarter last year. On average, equities analysts anticipate that Trane Technologies plc will post 10.88 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

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 dividend yield of 0.83%. Trane Technologies’s payout ratio is 35.90%.

Insider Buying and Selling

In other Trane Technologies news, EVP Raymond D. Pittard sold 1,805 shares of Trane Technologies 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 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 ownership of the stock. 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 firm’s 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 transaction, the chief executive officer now directly owns 132,946 shares of the company’s stock, valued at approximately $42,708,902.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 stock was sold at an average price of $328.65, for a total value of $593,213.25. Following the sale, the executive vice president now directly owns 83,517 shares of the company’s stock, valued at $27,447,862.05. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Wells Fargo & Company increased their price objective on Trane Technologies from $320.00 to $360.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. Stephens reaffirmed an “equal weight” rating and set a $350.00 target price on shares of Trane Technologies in a report on Monday, August 5th. Mizuho lifted their price target on Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a research note on Thursday. Royal Bank of Canada upped 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 note on Thursday, August 1st. Finally, The Goldman Sachs Group lifted their target price on shares of Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Trane Technologies currently has an average rating of “Hold” and an average price target of $373.58.

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.