Valley National Advisers Inc. Sells 435 Shares of Trane Technologies plc (NYSE:TT)

Valley National Advisers Inc. lessened its holdings in Trane Technologies plc (NYSE:TT) by 18.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 1,889 shares of the company’s stock after selling 435 shares during the period. Valley National Advisers Inc.’s holdings in Trane Technologies were worth $734,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Dixon Mitchell Investment Counsel Inc. purchased a new stake in Trane Technologies in the first quarter worth about $27,000. BOK Financial Private Wealth Inc. bought a new stake in Trane Technologies during the 1st quarter worth approximately $30,000. DT Investment Partners LLC purchased a new position in Trane Technologies during the third quarter valued at approximately $36,000. Fortitude Family Office LLC boosted its position 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 worth $37,000 after purchasing an additional 43 shares during the period. Finally, Triad Wealth Partners LLC purchased a new stake in shares of Trane Technologies in the second quarter worth $39,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Price Performance

Shares of NYSE TT opened at $392.57 on Monday. The company has a current ratio of 1.17, a quick ratio of 0.84 and a debt-to-equity ratio of 0.62. Trane Technologies plc has a 12-month low of $184.24 and a 12-month high of $406.96. The firm’s 50-day moving average price is $374.71 and its 200-day moving average price is $343.06. The stock has a market capitalization of $88.59 billion, a price-to-earnings ratio of 38.83, a P/E/G ratio of 2.70 and a beta of 1.01.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $3.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.08 by $0.22. The business had revenue of $5.31 billion for the quarter, compared to the consensus estimate of $5.13 billion. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. The company’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same period in the prior year, the business posted $2.68 earnings per share. On average, equities research analysts anticipate that Trane Technologies plc will post 10.89 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th will be paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 0.86%. The ex-dividend date is Friday, December 6th. Trane Technologies’s payout ratio is 33.23%.

Wall Street Analysts Forecast Growth

TT has been the topic of a number of analyst reports. The Goldman Sachs Group lifted their target price on shares of Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Mizuho upped their price objective on Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Morgan Stanley started coverage on Trane Technologies in a research note on Friday, September 6th. They set an “overweight” rating and a $425.00 target price on the stock. Stephens restated an “equal weight” rating and issued a $350.00 price target on shares of Trane Technologies in a research note on Monday, August 5th. Finally, Barclays lifted their price objective on shares of Trane Technologies from $394.00 to $425.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Trane Technologies currently has an average rating of “Hold” and an average price target of $373.58.

Insider Buying and Selling at Trane Technologies

In other news, EVP Raymond D. Pittard sold 1,805 shares of the firm’s stock in a transaction dated 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 owns 83,517 shares in the company, 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 related news, EVP Raymond D. Pittard sold 1,805 shares of the firm’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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David S. Regnery sold 29,450 shares of the company’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 directly owns 132,946 shares in the company, valued at $42,708,902.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.38% of the company’s stock.

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.