Parisi Gray Wealth Management acquired a new stake in shares of Trane Technologies plc (NYSE:TT) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 485 shares of the company’s stock, valued at approximately $89,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Trustcore Financial Services LLC purchased a new stake in shares of Trane Technologies in the 2nd quarter valued at approximately $27,000. Eagle Bay Advisors LLC purchased a new position in shares of Trane Technologies during the 2nd quarter worth approximately $31,000. Massmutual Trust Co. FSB ADV lifted its holdings in Trane Technologies by 265.3% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 179 shares of the company’s stock worth $30,000 after buying an additional 130 shares in the last quarter. KB Financial Partners LLC acquired a new stake in Trane Technologies during the 1st quarter worth approximately $39,000. Finally, Solstein Capital LLC acquired a new stake in Trane Technologies during the 1st quarter worth approximately $50,000. 80.29% of the stock is owned by institutional investors.
TT has been the topic of a number of research reports. Credit Suisse Group increased their target price on shares of Trane Technologies from $196.00 to $214.00 and gave the stock an “outperform” rating in a report on Thursday, August 5th. Wells Fargo & Company began coverage on shares of Trane Technologies in a report on Thursday, October 7th. They issued an “underweight” rating and a $163.00 price objective on the stock. Argus raised their price objective on shares of Trane Technologies from $200.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, August 5th. JPMorgan Chase & Co. downgraded shares of Trane Technologies from a “neutral” rating to an “underweight” rating and set a $160.00 target price on the stock. in a research report on Monday, August 9th. They noted that the move was a valuation call. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Trane Technologies from $184.00 to $203.00 and gave the company a “hold” rating in a research report on Wednesday, July 14th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Trane Technologies currently has an average rating of “Hold” and an average target price of $184.50.
Trane Technologies (NYSE:TT) last announced its earnings results on Wednesday, August 4th. The company reported $1.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.02. The company had revenue of $3.83 billion during the quarter, compared to analysts’ expectations of $3.74 billion. Trane Technologies had a net margin of 9.95% and a return on equity of 21.64%. The firm’s quarterly revenue was up 23.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.27 earnings per share. Equities research analysts expect that Trane Technologies plc will post 6.09 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 31st. Stockholders of record on Friday, December 3rd will be given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date is Thursday, December 2nd. Trane Technologies’s dividend payout ratio is presently 52.91%.
In other Trane Technologies news, insider Michael W. Lamach sold 126,724 shares of the business’s stock in a transaction that occurred on Wednesday, September 1st. The shares were sold at an average price of $197.45, for a total transaction of $25,021,653.80. Following the completion of the sale, the insider now directly owns 257,340 shares in the company, valued at $50,811,783. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Raymond D. Pittard sold 4,256 shares of the business’s stock in a transaction on Wednesday, August 4th. The stock was sold at an average price of $200.06, for a total transaction of $851,455.36. Following the transaction, the executive vice president now directly owns 82,954 shares in the company, valued at $16,595,777.24. The disclosure for this sale can be found here. Insiders own 0.74% of the company’s stock.
Trane Technologies Company Profile
Trane Technologies Plc engages in the provision of products, services, and solutions to enhance the quality, energy, and comfort of air in homes and buildings, transport and protect food and perishables and increase industrial productivity and efficiency. It operates through the following segments: Americas, EMEA, and Asia Pacific.
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