Cetera Investment Advisers Sells 9,589 Shares of Trane Technologies plc $TT

Cetera Investment Advisers lessened its stake in Trane Technologies plc (NYSE:TT) by 12.3% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 68,561 shares of the company’s stock after selling 9,589 shares during the quarter. Cetera Investment Advisers’ holdings in Trane Technologies were worth $28,572,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of TT. Brighton Jones LLC increased its holdings in Trane Technologies by 60.0% in 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 during the last quarter. Sivia Capital Partners LLC boosted its holdings in shares of Trane Technologies by 22.4% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,665 shares of the company’s stock valued at $728,000 after purchasing an additional 305 shares during the last quarter. Schnieders Capital Management LLC. purchased a new position in shares of Trane Technologies during the second quarter valued at about $227,000. Nebula Research & Development LLC grew its position in shares of 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 in the last quarter. Finally, Treasurer of the State of North Carolina increased its holdings in shares of Trane Technologies by 0.5% in 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 last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Donald E. Simmons sold 4,593 shares of the 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 in the company, valued at approximately $1,909,500. This represents a 54.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on TT shares. Barclays boosted their target price on Trane Technologies from $507.00 to $585.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. KeyCorp lifted their price objective on Trane Technologies from $525.00 to $555.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Royal Bank Of Canada upped their price objective on Trane Technologies from $440.00 to $501.00 and gave the stock a “sector perform” rating in a report on Friday, May 1st. JPMorgan Chase & Co. increased their target price on Trane Technologies from $460.00 to $476.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. Finally, Evercore initiated coverage on shares of Trane Technologies in a report on Monday, April 13th. They issued an “outperform” rating and a $535.00 target price for the company. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Trane Technologies has an average rating of “Moderate Buy” and an average target price of $516.67.

Trane Technologies Stock Up 0.0%

Shares of NYSE:TT opened at $481.09 on Monday. The company has a market cap 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 12 month low of $348.06 and a 12 month high of $505.87. The company has a current ratio of 1.10, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46. The company has a 50-day moving average price of $470.13 and a 200 day moving average price of $450.29.

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

Trane Technologies Dividend Announcement

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

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.