Envestnet Asset Management Inc. Acquires 18,327 Shares of Trane Technologies plc $TT

Envestnet Asset Management Inc. grew its holdings in Trane Technologies plc (NYSE:TT) by 5.5% in the 2nd quarter, Holdings Channel reports. The fund owned 353,078 shares of the company’s stock after purchasing an additional 18,327 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Trane Technologies were worth $154,440,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Ethic Inc. grew its stake in shares of Trane Technologies by 6.6% during the 2nd quarter. Ethic Inc. now owns 26,836 shares of the company’s stock worth $11,601,000 after acquiring an additional 1,672 shares in the last quarter. OMNI 360 Wealth Inc. bought a new position in shares of Trane Technologies during the 2nd quarter worth approximately $345,000. Triton Financial Group Inc bought a new position in Trane Technologies in the second quarter valued at approximately $1,273,000. Jones Financial Companies Lllp grew its stake in Trane Technologies by 350.3% in the first quarter. Jones Financial Companies Lllp now owns 21,191 shares of the company’s stock valued at $7,140,000 after purchasing an additional 16,485 shares in the last quarter. Finally, BROOKFIELD Corp ON grew its stake in Trane Technologies by 11.0% in the first quarter. BROOKFIELD Corp ON now owns 8,227 shares of the company’s stock valued at $2,772,000 after purchasing an additional 812 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on TT shares. Barclays decreased their price target on Trane Technologies from $495.00 to $485.00 and set an “overweight” rating for the company in a research note on Tuesday, September 16th. UBS Group raised their price target on Trane Technologies from $500.00 to $544.00 and gave the company a “buy” rating in a research note on Tuesday, August 5th. Northcoast Research downgraded Trane Technologies from a “buy” rating to a “neutral” rating in a research note on Friday, August 1st. Wells Fargo & Company raised their price objective on Trane Technologies from $410.00 to $415.00 and gave the company an “underweight” rating in a research report on Monday, October 6th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Trane Technologies in a research report on Wednesday, October 8th. Six analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $464.29.

Trane Technologies Stock Performance

NYSE:TT opened at $427.25 on Wednesday. The stock has a market cap of $95.07 billion, a P/E ratio of 33.88, a PEG ratio of 2.66 and a beta of 1.12. The stock has a 50 day simple moving average of $416.32 and a 200 day simple moving average of $416.93. The company has a current ratio of 1.10, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. Trane Technologies plc has a 1-year low of $298.15 and a 1-year high of $476.18.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Wednesday, July 30th. The company reported $3.88 earnings per share for the quarter, topping the consensus estimate of $3.79 by $0.09. The business had revenue of $5.75 billion during the quarter, compared to analysts’ expectations of $5.77 billion. Trane Technologies had a return on equity of 36.61% and a net margin of 13.76%.The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period last year, the firm posted $3.30 EPS. Research analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Friday, December 5th will be issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, December 5th. Trane Technologies’s dividend payout ratio (DPR) is presently 29.82%.

Insiders Place Their Bets

In related news, CEO David S. Regnery sold 22,497 shares of Trane Technologies stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $410.00, for a total transaction of $9,223,770.00. Following the completion of the sale, the chief executive officer directly owned 123,713 shares of the company’s stock, valued at approximately $50,722,330. This trade represents a 15.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.14% of the company’s stock.

Trane Technologies Company Profile

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.