Bradley Foster & Sargent Inc. CT Reduces Stock Position in Trane Technologies plc $TT

Bradley Foster & Sargent Inc. CT trimmed its holdings in Trane Technologies plc (NYSE:TT) by 21.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,834 shares of the company’s stock after selling 2,411 shares during the period. Bradley Foster & Sargent Inc. CT’s holdings in Trane Technologies were worth $3,681,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in TT. Brighton Jones LLC raised its position in shares of Trane Technologies by 60.0% during the 4th quarter. Brighton Jones LLC now owns 6,194 shares of the company’s stock valued at $2,288,000 after acquiring an additional 2,323 shares in the last quarter. Sivia Capital Partners LLC boosted its holdings in Trane Technologies by 22.4% in the second quarter. Sivia Capital Partners LLC now owns 1,665 shares of the company’s stock worth $728,000 after purchasing an additional 305 shares during the period. Schnieders Capital Management LLC. bought a new stake in Trane Technologies during the second quarter valued at $227,000. Nebula Research & Development LLC increased its stake in Trane Technologies by 178.0% during the second quarter. Nebula Research & Development LLC now owns 2,371 shares of the company’s stock valued at $1,037,000 after purchasing an additional 1,518 shares during the last quarter. Finally, Treasurer of the State of North Carolina raised its holdings in shares of Trane Technologies by 0.5% during the second quarter. Treasurer of the State of North Carolina now owns 104,140 shares of the company’s stock worth $45,552,000 after purchasing an additional 497 shares during the period. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Trane Technologies news, insider Donald E. Simmons sold 4,593 shares of Trane Technologies stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $500.00, for a total transaction of $2,296,500.00. Following the sale, the insider owned 3,819 shares of the company’s stock, valued at $1,909,500. The trade was a 54.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is currently owned by corporate insiders.

Trane Technologies Trading Up 0.0%

Trane Technologies stock opened at $481.09 on Monday. The company has a quick ratio of 0.77, a current ratio of 1.10 and a debt-to-equity ratio of 0.46. The firm has a 50-day moving average price of $470.13 and a two-hundred day moving average price of $450.29. The firm has a market capitalization of $106.34 billion, a price-to-earnings ratio of 37.21, a PEG ratio of 2.21 and a beta of 1.19. Trane Technologies plc has a 52-week low of $348.06 and a 52-week high of $505.87.

Trane Technologies (NYSE:TT) last posted its earnings results on Friday, May 1st. The company reported $2.63 EPS for the quarter, topping the consensus estimate of $2.53 by $0.10. The firm had revenue of $4.97 billion during the quarter, compared to analysts’ expectations of $4.81 billion. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. Trane Technologies’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.45 EPS. Sell-side analysts expect that Trane Technologies plc will post 14.89 earnings per share for the current year.

Trane Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 4th will be given a $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, September 4th. Trane Technologies’s dividend payout ratio (DPR) is currently 32.48%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Royal Bank Of Canada raised their price target on shares of Trane Technologies from $440.00 to $501.00 and gave the stock a “sector perform” rating in a research report on Friday, May 1st. Evercore assumed coverage on shares of Trane Technologies in a research note on Monday, April 13th. They set an “outperform” rating and a $535.00 price objective on the stock. Citigroup lifted their target price on Trane Technologies from $525.00 to $570.00 and gave the company a “buy” rating in a research note on Friday, May 1st. KeyCorp upped their target price on Trane Technologies from $525.00 to $555.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Finally, Barclays increased their price target on Trane Technologies from $507.00 to $585.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Trane Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $516.67.

Trane Technologies Profile

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.