Janney Montgomery Scott LLC Reduces Holdings in Trane Technologies plc (NYSE:TT)

Janney Montgomery Scott LLC lowered its position in Trane Technologies plc (NYSE:TT) by 0.9% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 111,227 shares of the company’s stock after selling 1,044 shares during the period. Janney Montgomery Scott LLC’s holdings in Trane Technologies were worth $43,238,000 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 business. Norden Group LLC acquired a new position in Trane Technologies during the first quarter worth about $646,000. Private Advisor Group LLC boosted its holdings in shares of Trane Technologies by 4.2% during the 1st quarter. Private Advisor Group LLC now owns 8,341 shares of the company’s stock worth $2,504,000 after purchasing an additional 334 shares during the last quarter. Diversify Advisory Services LLC purchased a new stake in shares of Trane Technologies in the first quarter valued at approximately $215,000. Fidelis Capital Partners LLC increased its holdings in shares of Trane Technologies by 10.7% in the first quarter. Fidelis Capital Partners LLC now owns 929 shares of the company’s stock valued at $279,000 after purchasing an additional 90 shares during the last quarter. Finally, Financial Counselors Inc. lifted its position in Trane Technologies by 3.1% during the first quarter. Financial Counselors Inc. now owns 2,382 shares of the company’s stock worth $715,000 after buying an additional 71 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TT. Hsbc Global Res downgraded Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday. HSBC cut shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price objective for the company. in a research report on Thursday. Morgan Stanley began coverage on shares of Trane Technologies in a report on Friday, September 6th. They issued an “overweight” rating and a $425.00 target price on the stock. The Goldman Sachs Group raised 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. Finally, Robert W. Baird decreased their price objective on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a report on Thursday. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $380.15.

Insider Buying and Selling

In other Trane Technologies 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 completion of the sale, the executive vice president now directly owns 83,517 shares of the company’s stock, valued at approximately $27,447,862.05. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 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 of the company’s stock, valued at approximately $42,708,902.50. The trade was 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, 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 value of $593,213.25. Following the transaction, the executive vice president now directly owns 83,517 shares of the company’s stock, valued at approximately $27,447,862.05. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.38% of the company’s stock.

Trane Technologies Stock Up 1.6 %

Trane Technologies stock opened at $376.15 on Monday. The company has a market capitalization of $84.64 billion, a P/E 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 plc has a fifty-two week low of $211.31 and a fifty-two week high of $406.96. The stock has a 50-day simple moving average of $377.83 and a 200-day simple moving average of $346.08.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 earnings per share for the quarter, beating the consensus estimate of $3.23 by $0.14. The business had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $5.32 billion. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The company’s revenue was up 10.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.79 earnings per share. Equities research analysts expect that Trane Technologies plc will post 11.06 earnings per share for the current year.

Trane Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be paid a dividend of $0.84 per share. 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 (DPR) is 31.17%.

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.