Gateway Investment Advisers LLC acquired a new stake in Trane Technologies plc (NYSE:TT – Get Rating) in the fourth quarter, Holdings Channel reports. The fund acquired 1,229 shares of the company’s stock, valued at approximately $207,000.
A number of other institutional investors have also recently bought and sold shares of the business. Waldron Private Wealth LLC lifted its holdings in shares of Trane Technologies by 2.9% during the 3rd quarter. Waldron Private Wealth LLC now owns 2,155 shares of the company’s stock worth $312,000 after acquiring an additional 60 shares during the period. CVA Family Office LLC lifted its holdings in shares of Trane Technologies by 11.3% during the 3rd quarter. CVA Family Office LLC now owns 590 shares of the company’s stock worth $85,000 after acquiring an additional 60 shares during the period. Transamerica Financial Advisors Inc. lifted its holdings in shares of Trane Technologies by 9.0% during the 3rd quarter. Transamerica Financial Advisors Inc. now owns 736 shares of the company’s stock worth $107,000 after acquiring an additional 61 shares during the period. HBK Sorce Advisory LLC increased its position in Trane Technologies by 3.8% during the 3rd quarter. HBK Sorce Advisory LLC now owns 1,813 shares of the company’s stock worth $263,000 after purchasing an additional 67 shares in the last quarter. Finally, Hanson & Doremus Investment Management increased its position in Trane Technologies by 5.2% during the 3rd quarter. Hanson & Doremus Investment Management now owns 1,625 shares of the company’s stock worth $235,000 after purchasing an additional 80 shares in the last quarter. Institutional investors own 81.47% of the company’s stock.
Insider Activity at Trane Technologies
In related news, EVP Paul A. Camuti sold 7,950 shares of the firm’s stock in a transaction dated Friday, March 3rd. The shares were sold at an average price of $190.78, for a total transaction of $1,516,701.00. Following the transaction, the executive vice president now directly owns 89,021 shares of the company’s stock, valued at $16,983,426.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed via the SEC website. In related news, EVP Raymond D. Pittard sold 23,003 shares of the firm’s stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $170.42, for a total transaction of $3,920,171.26. Following the completion of the sale, the executive vice president now owns 87,718 shares in the company, valued at $14,948,901.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Paul A. Camuti sold 7,950 shares of the firm’s stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $190.78, for a total transaction of $1,516,701.00. Following the sale, the executive vice president now owns 89,021 shares of the company’s stock, valued at approximately $16,983,426.38. The disclosure for this sale can be found here. Insiders have sold 38,970 shares of company stock valued at $6,927,921 over the last ninety days. Corporate insiders own 0.74% of the company’s stock.
Trane Technologies Stock Down 0.5 %
Trane Technologies stock opened at $182.07 on Friday. Trane Technologies plc has a 1-year low of $120.64 and a 1-year high of $196.22. The firm has a market capitalization of $41.71 billion, a price-to-earnings ratio of 24.31, a price-to-earnings-growth ratio of 2.22 and a beta of 1.00. The firm’s fifty day moving average price is $182.16 and its two-hundred day moving average price is $170.66. The company has a current ratio of 1.12, a quick ratio of 0.77 and a debt-to-equity ratio of 0.62.
Trane Technologies (NYSE:TT – Get Rating) last released its quarterly earnings data on Thursday, February 2nd. The company reported $1.82 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.18. Trane Technologies had a net margin of 10.98% and a return on equity of 29.14%. The firm had revenue of $4.07 billion for the quarter, compared to analyst estimates of $3.94 billion. During the same period last year, the firm earned $1.36 earnings per share. The business’s quarterly revenue was up 14.1% compared to the same quarter last year. On average, equity research analysts predict that Trane Technologies plc will post 8.34 earnings per share for the current fiscal year.
Trane Technologies Increases Dividends
The company also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Friday, March 3rd will be given a dividend of $0.75 per share. This is a positive change from Trane Technologies’ previous quarterly dividend of $0.67. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date is Thursday, March 2nd. Trane Technologies’ dividend payout ratio (DPR) is presently 40.05%.
Wall Street Analysts Forecast Growth
A number of research firms recently issued reports on TT. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Trane Technologies from $170.00 to $184.00 in a research report on Friday, February 3rd. Bank of America cut shares of Trane Technologies from a “neutral” rating to an “underperform” rating and set a $160.00 price objective for the company. in a research report on Monday, December 12th. Morgan Stanley increased their price objective on shares of Trane Technologies from $193.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, February 3rd. The Goldman Sachs Group increased their price objective on shares of Trane Technologies from $178.00 to $203.00 and gave the stock a “neutral” rating in a research report on Monday, February 6th. Finally, Barclays increased their price objective on shares of Trane Technologies from $190.00 to $193.00 and gave the stock an “overweight” rating in a research report on Thursday, January 5th. Three equity research analysts have rated the stock with a sell rating, six have been given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $183.78.
Trane Technologies Profile
(Get Rating)
Trane Technologies Plc is engaged in providing solutions to buildings, homes, and transportation. It operates through the following business segments: Americas, EMEA, and Asia Pacific. The Americas segment includes commercial heating and cooling systems, building controls, and energy services and solutions, residential heating and cooling, and transport refrigeration systems, and solutions in North America and Latin America regions.
Featured Articles
Want to see what other hedge funds are holding TT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Trane Technologies plc (NYSE:TT – Get Rating).
Receive News & Ratings for Trane Technologies Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Trane Technologies and related companies with MarketBeat.com’s FREE daily email newsletter.
