Global Retirement Partners LLC Buys 331 Shares of Trane Technologies plc (NYSE:TT)

Posted by Defense World Staff on Aug 12th, 2023

Global Retirement Partners LLC boosted its stake in Trane Technologies plc (NYSE:TT – Free Report) by 70.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 803 shares of the company’s stock after purchasing an additional 331 shares during the period. Global Retirement Partners LLC’s holdings in Trane Technologies were worth $143,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. First National Trust Co purchased a new position in shares of Trane Technologies during the 4th quarter worth $274,000. Strs Ohio boosted its stake in shares of Trane Technologies by 1.3% during the 1st quarter. Strs Ohio now owns 60,232 shares of the company’s stock worth $11,081,000 after acquiring an additional 796 shares during the last quarter. Great Lakes Advisors LLC boosted its stake in shares of Trane Technologies by 1.8% during the 4th quarter. Great Lakes Advisors LLC now owns 4,635 shares of the company’s stock worth $779,000 after acquiring an additional 80 shares during the last quarter. Sequoia Financial Advisors LLC lifted its stake 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 valued at $514,000 after buying an additional 1,559 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its stake in shares of Trane Technologies by 15.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 112,405 shares of the company’s stock valued at $20,680,000 after buying an additional 15,449 shares in the last quarter. Institutional investors own 81.23% of the company’s stock.

Insider Activity at Trane Technologies

In other Trane Technologies news, CAO Mark Majocha sold 2,202 shares of the company’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 transaction, the chief accounting officer now directly owns 3,797 shares in the company, valued at approximately $737,681.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Trane Technologies news, EVP Paul A. Camuti sold 5,000 shares of the company’s stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $196.00, for a total value of $980,000.00. Following the transaction, the executive vice president now directly owns 89,409 shares in the company, valued at approximately $17,524,164. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Mark Majocha sold 2,202 shares of the company’s stock in a transaction dated Tuesday, July 11th. The stock was sold at an average price of $194.28, for a total transaction of $427,804.56. Following the completion of the transaction, the chief accounting officer now owns 3,797 shares in the company, valued at $737,681.16. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,374 shares of company stock worth $4,080,669. Insiders own 0.39% of the company’s stock.

Wall Street Analyst Weigh In

TT has been the topic of a number of analyst reports. Wells Fargo & Company lifted their target price on shares of Trane Technologies from $172.00 to $181.00 in a research note on Monday, July 10th. Bank of America boosted their price target on shares of Trane Technologies from $160.00 to $187.00 and gave the stock an “underperform” rating in a research note on Thursday, August 3rd. Morgan Stanley boosted their price target on shares of Trane Technologies from $210.00 to $231.00 and gave the stock an “overweight” rating in a research note on Thursday, August 3rd. Mizuho boosted their price target on shares of Trane Technologies from $185.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, August 3rd. Finally, 888 reiterated a “maintains” rating on shares of Trane Technologies in a research note on Thursday, May 4th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $194.81.

Read Our Latest Analysis on TT

Trane Technologies Stock Performance

Shares of NYSE:TT opened at $203.16 on Friday. The company has a market capitalization of $46.40 billion, a price-to-earnings ratio of 25.05, a PEG ratio of 1.77 and a beta of 1.02. Trane Technologies plc has a 12 month low of $139.07 and a 12 month high of $209.17. The firm’s 50-day moving average is $191.62 and its 200 day moving average is $183.54. The company has a current ratio of 1.19, a quick ratio of 0.77 and a debt-to-equity ratio of 0.71.

Trane Technologies (NYSE:TT – Get Free Report) last issued its quarterly earnings results on Wednesday, August 2nd. The company reported $2.68 EPS for the quarter, beating the consensus estimate of $2.56 by $0.12. The company had revenue of $4.71 billion for 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 firm’s revenue was up 12.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.16 EPS. Research analysts predict that Trane Technologies plc will post 8.86 EPS for the current year.

Trane Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 1st will be issued a dividend of $0.75 per share. The ex-dividend date is Thursday, August 31st. This represents a $3.00 annualized dividend and a yield of 1.48%. Trane Technologies’s payout ratio is 36.99%.

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.