Avantax Advisory Services Inc. Has $1.12 Million Holdings in Trane Technologies plc (NYSE:TT)

Posted by Defense World Staff on Jul 24th, 2023

Avantax Advisory Services Inc. increased its stake in Trane Technologies plc (NYSE:TT – Free Report) by 11.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,074 shares of the company’s stock after buying an additional 640 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Trane Technologies were worth $1,118,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in TT. Norges Bank acquired a new stake in shares of Trane Technologies in the 4th quarter valued at approximately $526,026,000. Moneta Group Investment Advisors LLC raised its stake in Trane Technologies by 109,668.5% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 1,963,758 shares of the company’s stock valued at $330,088,000 after acquiring an additional 1,961,969 shares during the period. Mackenzie Financial Corp bought a new stake in Trane Technologies in the 1st quarter valued at $238,100,000. First Trust Advisors LP raised its stake in Trane Technologies by 2,606.5% in the 1st quarter. First Trust Advisors LP now owns 1,081,171 shares of the company’s stock valued at $165,095,000 after acquiring an additional 1,041,224 shares during the period. Finally, Capital World Investors raised its stake in Trane Technologies by 47.1% in the 1st quarter. Capital World Investors now owns 2,475,871 shares of the company’s stock valued at $378,184,000 after acquiring an additional 792,225 shares during the period. Institutional investors and hedge funds own 81.23% of the company’s stock.

Insider Activity

In other news, SVP Keith A. Sultana sold 3,964 shares of Trane Technologies stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $198.00, for a total transaction of $784,872.00. Following the sale, the senior vice president now directly owns 42,116 shares of the company’s stock, valued at $8,338,968. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Keith A. Sultana sold 3,964 shares of the firm’s stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $198.00, for a total transaction of $784,872.00. Following the completion of the transaction, the senior vice president now directly owns 42,116 shares in the company, valued at $8,338,968. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Paul A. Camuti sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $196.00, for a total value of $980,000.00. Following the transaction, the executive vice president now owns 89,409 shares of the company’s stock, valued at $17,524,164. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,166 shares of company stock valued at $2,192,677. 0.39% of the stock is currently owned by corporate insiders.

Trane Technologies Stock Performance

NYSE:TT opened at $193.89 on Monday. The stock’s 50-day simple moving average is $182.35 and its 200 day simple moving average is $181.07. The firm has a market capitalization of $44.22 billion, a PE ratio of 25.12, a price-to-earnings-growth ratio of 2.08 and a beta of 1.03. The company has a quick ratio of 0.77, a current ratio of 1.26 and a debt-to-equity ratio of 0.74. Trane Technologies plc has a twelve month low of $136.96 and a twelve month high of $199.83.

Trane Technologies (NYSE:TT – Get Free Report) last released its quarterly earnings data on Wednesday, May 3rd. The company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.08. Trane Technologies had a return on equity of 30.11% and a net margin of 11.06%. The business had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.64 billion. During the same period last year, the firm posted $1.12 earnings per share. Trane Technologies’s revenue was up 9.2% compared to the same quarter last year. On average, analysts anticipate that Trane Technologies plc will post 8.45 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The company 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. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date is Thursday, August 31st. Trane Technologies’s payout ratio is 38.86%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on TT shares. Robert W. Baird lowered their price objective on Trane Technologies from $200.00 to $192.00 in a research report on Thursday, May 4th. Deutsche Bank Aktiengesellschaft lowered their price objective on Trane Technologies from $184.00 to $183.00 and set a “hold” rating on the stock in a research report on Wednesday, April 12th. Barclays increased their price objective on Trane Technologies from $201.00 to $210.00 in a research report on Monday, July 10th. Morgan Stanley reiterated an “overweight” rating and set a $210.00 price objective on shares of Trane Technologies in a research report on Wednesday, July 19th. Finally, Wells Fargo & Company increased their price objective on Trane Technologies from $172.00 to $181.00 in a research report on Monday, July 10th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $187.25.

About Trane Technologies

(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.