Benjamin Edwards Inc. Grows Position in Trane Technologies plc (NYSE:TT)

Benjamin Edwards Inc. raised its position in Trane Technologies plc (NYSE:TT) by 11.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 10,446 shares of the company’s stock after purchasing an additional 1,086 shares during the period. Benjamin Edwards Inc.’s holdings in Trane Technologies were worth $3,858,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of TT. Sound Income Strategies LLC increased its holdings in shares of Trane Technologies by 1,314.3% in the 4th quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock valued at $37,000 after acquiring an additional 92 shares during the period. Flagship Wealth Advisors LLC purchased a new stake in shares of Trane Technologies in the fourth quarter valued at about $37,000. Golden State Wealth Management LLC acquired a new stake in shares of Trane Technologies during the fourth quarter worth about $39,000. BankPlus Trust Department purchased a new position in shares of Trane Technologies during the fourth quarter worth about $45,000. Finally, Centricity Wealth Management LLC acquired a new position in Trane Technologies in the 4th quarter valued at about $55,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Trane Technologies Stock Performance

TT opened at $402.86 on Tuesday. Trane Technologies plc has a 1-year low of $298.15 and a 1-year high of $422.00. The stock has a market cap of $89.84 billion, a P/E ratio of 35.81, a P/E/G ratio of 2.50 and a beta of 1.14. The stock’s 50 day simple moving average is $345.31 and its 200 day simple moving average is $371.85. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share for the quarter, beating analysts’ consensus estimates of $2.20 by $0.25. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. The business had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.46 billion. During the same quarter last year, the business posted $1.94 earnings per share. The business’s revenue for the quarter was up 11.2% on a year-over-year basis. As a group, equities analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be issued a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 0.93%. The ex-dividend date is Friday, June 6th. Trane Technologies’s dividend payout ratio (DPR) is presently 31.28%.

Analysts Set New Price Targets

A number of research firms have weighed in on TT. Royal Bank of Canada increased their price objective on Trane Technologies from $363.00 to $408.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 1st. JPMorgan Chase & Co. increased their price target on Trane Technologies from $323.00 to $334.00 and gave the stock a “neutral” rating in a report on Thursday, May 1st. Melius cut shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price objective on the stock. in a research note on Tuesday, January 28th. Robert W. Baird raised their target price on shares of Trane Technologies from $360.00 to $396.00 and gave the stock a “neutral” rating in a research note on Thursday, May 1st. Finally, Stephens upgraded shares of Trane Technologies from an “equal weight” rating to an “overweight” rating and set a $475.00 price target on the stock in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $421.07.

Insider Activity

In other news, CFO Christopher J. Kuehn sold 770 shares of Trane Technologies stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $358.39, for a total transaction of $275,960.30. Following the completion of the sale, the chief financial officer now directly owns 62,221 shares in the company, valued at $22,299,384.19. The trade was a 1.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Evan M. Turtz sold 318 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $358.12, for a total transaction of $113,882.16. Following the completion of the transaction, the senior vice president now directly owns 20,513 shares of the company’s stock, valued at approximately $7,346,115.56. This represents a 1.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,977 shares of company stock worth $2,577,061 over the last ninety days. 0.38% of the stock is currently owned by insiders.

About Trane Technologies

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.