Stonegate Investment Group LLC bought a new position in Trane Technologies plc (NYSE:TT - Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The fund bought 13,745 shares of the company's stock, valued at approximately $5,343,000.
Other large investors have also recently modified their holdings of the company. GoalVest Advisory LLC lifted its stake in Trane Technologies by 157.1% in the first quarter. GoalVest Advisory LLC now owns 90 shares of the company's stock worth $27,000 after purchasing an additional 55 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. purchased a new position in Trane Technologies during the 1st quarter valued at $27,000. BOK Financial Private Wealth Inc. bought a new position in Trane Technologies in the 1st quarter valued at $30,000. Fortitude Family Office LLC increased its stake in Trane Technologies by 63.2% in the second quarter. Fortitude Family Office LLC now owns 111 shares of the company's stock worth $37,000 after purchasing an additional 43 shares during the period. Finally, Triad Wealth Partners LLC bought a new stake in shares of Trane Technologies during the second quarter worth $39,000. Institutional investors own 82.97% of the company's stock.
Trane Technologies Stock Up 0.6 %
Trane Technologies stock traded up $2.40 during trading hours on Friday, reaching $402.54. The stock had a trading volume of 869,771 shares, compared to its average volume of 1,097,868. Trane Technologies plc has a 52 week low of $184.02 and a 52 week high of $406.96. 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. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.17 and a quick ratio of 0.84. The business's 50 day moving average price is $369.37 and its 200-day moving average price is $339.21.
Trane Technologies (NYSE:TT - Get Free Report) last announced its earnings results on Wednesday, July 31st. The company reported $3.30 earnings per share for the quarter, beating the consensus estimate of $3.08 by $0.22. The company had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.13 billion. Trane Technologies had a net margin of 12.33% and a return on equity of 33.97%. During the same period last year, the firm earned $2.68 earnings per share. Trane Technologies's revenue was up 12.8% compared to the same quarter last year. Sell-side analysts anticipate that Trane Technologies plc will post 10.88 EPS for the current year.
Trane Technologies Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 0.83%. The ex-dividend date is Friday, December 6th. Trane Technologies's dividend payout ratio is presently 35.90%.
Insider Transactions at Trane Technologies
In other Trane Technologies news, CEO David S. Regnery sold 29,450 shares of the firm's stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $321.25, for a total value of $9,460,812.50. Following the completion of the transaction, the chief executive officer now 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Trane Technologies news, CEO David S. Regnery sold 29,450 shares of the business's stock in a transaction dated 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 sale, the chief executive officer now owns 132,946 shares in the company, valued at approximately $42,708,902.50. The trade was a 0.00 % decrease in their position. The transaction 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 firm's stock in a transaction dated 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 transaction, 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. Insiders own 0.38% of the company's stock.
Analysts Set New Price Targets
Several research analysts recently commented on the stock. Royal Bank of Canada raised their price target on shares of Trane Technologies from $334.00 to $350.00 and gave the stock a "sector perform" rating in a research note on Thursday, August 1st. Barclays lifted their price target on shares of Trane Technologies from $394.00 to $425.00 and gave the company an "overweight" rating in a research note on Wednesday, October 2nd. Morgan Stanley began coverage on Trane Technologies in a research note on Friday, September 6th. They issued an "overweight" rating and a $425.00 price objective on the stock. The Goldman Sachs Group raised their price objective on 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 increased their price target on Trane Technologies from $360.00 to $365.00 and gave the stock a "neutral" rating in a research report on Thursday, August 1st. One 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. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $373.58.
Check Out Our Latest Analysis on Trane Technologies
Trane Technologies Company Profile
(
Free Report)
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.
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