Strs Ohio raised its stake in shares of Trane Technologies plc (NYSE:TT – Free Report) by 1.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 60,232 shares of the company’s stock after acquiring an additional 796 shares during the period. Strs Ohio’s holdings in Trane Technologies were worth $11,081,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in TT. First National Trust Co acquired a new stake in Trane Technologies in the fourth quarter valued at $274,000. Great Lakes Advisors LLC boosted its holdings in Trane Technologies by 1.8% in the fourth quarter. Great Lakes Advisors LLC now owns 4,635 shares of the company’s stock valued at $779,000 after purchasing an additional 80 shares in the last quarter. Avestar Capital LLC purchased a new position in Trane Technologies in the fourth quarter valued at approximately $265,000. Toth Financial Advisory Corp lifted its position in shares of Trane Technologies by 2,709.5% during the 4th quarter. Toth Financial Advisory Corp now owns 2,950 shares of the company’s stock worth $496,000 after buying an additional 2,845 shares during the last quarter. Finally, Sequoia Financial Advisors LLC lifted its position in shares of Trane Technologies by 103.9% during the 4th quarter. Sequoia Financial Advisors LLC now owns 3,060 shares of the company’s stock worth $514,000 after buying an additional 1,559 shares during the last quarter. 81.23% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Trane Technologies
In other news, EVP Paul A. Camuti sold 5,000 shares of the company’s stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $196.00, for a total transaction of $980,000.00. Following the transaction, the executive vice president now directly owns 89,409 shares of the company’s stock, valued at approximately $17,524,164. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CAO Mark Majocha sold 2,202 shares of the business’s stock in a transaction dated Tuesday, July 11th. The shares were sold at an average price of $194.28, for a total value of $427,804.56. Following the sale, the chief accounting officer now directly owns 3,797 shares in the company, valued at approximately $737,681.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Paul A. Camuti sold 5,000 shares of the business’s stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $196.00, for a total transaction of $980,000.00. Following the completion of the sale, the executive vice president now owns 89,409 shares in the company, valued at $17,524,164. The disclosure for this sale can be found here. Corporate insiders own 0.39% of the company’s stock.
Trane Technologies Stock Performance
Trane Technologies (NYSE:TT – Get Free Report) last announced its quarterly earnings data on Wednesday, May 3rd. The company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.08. Trane Technologies had a net margin of 11.06% and a return on equity of 30.11%. The company had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.64 billion. During the same period in the previous year, the company posted $1.12 EPS. Trane Technologies’s revenue was up 9.2% compared to the same quarter last year. On average, sell-side analysts predict that Trane Technologies plc will post 8.45 earnings per share for the current year.
Trane Technologies Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 1st will be paid a dividend of $0.75 per share. The ex-dividend date is Thursday, August 31st. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.53%. Trane Technologies’s dividend payout ratio (DPR) is presently 38.86%.
Wall Street Analysts Forecast Growth
Several analysts have recently weighed in on the stock. Robert W. Baird reduced their price objective on shares of Trane Technologies from $200.00 to $192.00 in a research report on Thursday, May 4th. Wells Fargo & Company boosted their price objective on shares of Trane Technologies from $172.00 to $181.00 in a research report on Monday, July 10th. The Goldman Sachs Group reduced their price objective on shares of Trane Technologies from $203.00 to $178.00 and set a “neutral” rating for the company in a research report on Friday, April 14th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Trane Technologies from $184.00 to $183.00 and set a “hold” rating for the company in a research report on Wednesday, April 12th. Finally, Oppenheimer started coverage on shares of Trane Technologies in a report on Monday, March 27th. They issued a “market perform” rating on the stock. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $187.25.
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.
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