Trane Technologies plc (NYSE:TT) Shares Sold by Assetmark Inc.

Posted by Defense World Staff on Aug 9th, 2023

Assetmark Inc. decreased its stake in shares of Trane Technologies plc (NYSE:TT – Free Report) by 1.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,533 shares of the company’s stock after selling 199 shares during the period. Assetmark Inc.’s holdings in Trane Technologies were worth $2,306,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Delta Asset Management LLC TN acquired a new position in shares of Trane Technologies during the 4th quarter valued at $27,000. Live Oak Investment Partners purchased a new stake in shares of Trane Technologies during the 4th quarter valued at about $30,000. Ruedi Wealth Management Inc. acquired a new position in Trane Technologies during the 4th quarter worth approximately $37,000. 1832 Asset Management L.P. acquired a new stake in Trane Technologies in the first quarter valued at approximately $34,000. Finally, BDO Wealth Advisors LLC lifted its position in shares of Trane Technologies by 615.6% during the fourth quarter. BDO Wealth Advisors LLC now owns 229 shares of the company’s stock worth $38,000 after purchasing an additional 197 shares in the last quarter. Hedge funds and other institutional investors own 81.23% of the company’s stock.

Wall Street Analysts Forecast Growth

TT has been the subject of a number of recent analyst reports. Barclays raised their price target on shares of Trane Technologies from $210.00 to $222.00 and gave the company an “overweight” rating in a report on Thursday, August 3rd. Robert W. Baird cut their price target on Trane Technologies from $200.00 to $192.00 in a research note on Thursday, May 4th. The Goldman Sachs Group dropped their price objective on Trane Technologies from $203.00 to $178.00 and set a “neutral” rating on the stock in a report on Friday, April 14th. Royal Bank of Canada increased their target price on Trane Technologies from $194.00 to $204.00 and gave the company a “sector perform” rating in a research note on Thursday, August 3rd. Finally, Citigroup lifted their price target on shares of Trane Technologies from $218.00 to $237.00 in a research note on Thursday, August 3rd. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Trane Technologies has an average rating of “Hold” and an average price target of $194.81.

Check Out Our Latest Research Report on Trane Technologies

Insider Activity

In other news, CAO Mark Majocha sold 2,202 shares of the stock in a transaction that occurred on Tuesday, July 11th. The shares were sold at an average price of $194.28, for a total value of $427,804.56. Following the completion of the transaction, the chief accounting officer now directly owns 3,797 shares in the company, valued at $737,681.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Trane Technologies 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 $737,681.16. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Keith A. Sultana sold 3,964 shares of the firm’s stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $198.00, for a total transaction of $784,872.00. Following the transaction, the senior vice president now owns 42,116 shares of the company’s stock, valued at approximately $8,338,968. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,166 shares of company stock valued at $2,192,677. Company insiders own 0.39% of the company’s stock.

Trane Technologies Stock Performance

Shares of TT stock opened at $205.54 on Wednesday. The company has a quick ratio of 0.77, a current ratio of 1.19 and a debt-to-equity ratio of 0.71. The business has a 50 day moving average of $188.74 and a two-hundred day moving average of $182.80. The company has a market cap of $46.95 billion, a P/E ratio of 25.34, a PEG ratio of 1.83 and a beta of 1.02. Trane Technologies plc has a 52 week low of $139.07 and a 52 week high of $209.17.

Trane Technologies (NYSE:TT – Get Free Report) last announced its quarterly earnings results on Wednesday, August 2nd. The company reported $2.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.56 by $0.12. The company had revenue of $4.71 billion during the quarter, compared to the consensus estimate of $4.61 billion. Trane Technologies had a net margin of 11.18% and a return on equity of 31.22%. The company’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.16 earnings per share. As a group, analysts anticipate that Trane Technologies plc will post 8.86 EPS for the current year.

Trane Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 1st will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $3.00 dividend on an annualized basis and a yield of 1.46%. Trane Technologies’s dividend payout ratio (DPR) is presently 36.99%.

Trane Technologies Company Profile

(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.