CX Institutional Boosts Stock Holdings in Trane Technologies plc (NYSE:TT)

CX Institutional raised its holdings in shares of Trane Technologies plc (NYSE:TT) by 302.6% during the third quarter, according to its most recent filing with the SEC. The firm owned 310 shares of the company’s stock after purchasing an additional 233 shares during the period. CX Institutional’s holdings in Trane Technologies were worth $38,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. State Street Corp acquired a new stake in Trane Technologies in the 1st quarter worth approximately $879,895,000. Bank of New York Mellon Corp lifted its stake in shares of Trane Technologies by 7.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 5,109,991 shares of the company’s stock valued at $454,687,000 after purchasing an additional 357,257 shares during the period. Bank of America Corp DE lifted its stake in shares of Trane Technologies by 5.6% in the 2nd quarter. Bank of America Corp DE now owns 4,148,370 shares of the company’s stock valued at $369,121,000 after purchasing an additional 221,425 shares during the period. Royal Bank of Canada acquired a new position in shares of Trane Technologies in the 1st quarter valued at $120,055,000. Finally, Morgan Stanley acquired a new position in shares of Trane Technologies in the 1st quarter valued at $104,260,000. 81.03% of the stock is currently owned by institutional investors and hedge funds.

Trane Technologies stock opened at $131.21 on Friday. Trane Technologies plc has a 52-week low of $70.00 and a 52-week high of $146.85. The firm has a market capitalization of $31.41 billion, a price-to-earnings ratio of 33.05, a PEG ratio of 10.75 and a beta of 1.42. The company has a fifty day simple moving average of $122.00 and a 200-day simple moving average of $101.49. The company has a quick ratio of 1.30, a current ratio of 1.66 and a debt-to-equity ratio of 0.77.

Trane Technologies (NYSE:TT) last released its earnings results on Wednesday, July 29th. The company reported $1.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.77 by $0.50. Trane Technologies had a net margin of 6.76% and a return on equity of 18.82%. The business had revenue of $3.10 billion during the quarter, compared to analyst estimates of $2.77 billion. The business’s revenue was down 14.3% compared to the same quarter last year. On average, research analysts anticipate that Trane Technologies plc will post 3.82 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Friday, December 4th will be issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date is Thursday, December 3rd. Trane Technologies’s dividend payout ratio is currently 33.28%.

TT has been the subject of several analyst reports. Stephens initiated coverage on shares of Trane Technologies in a research note on Thursday. They issued an “equal weight” rating for the company. UBS Group assumed coverage on shares of Trane Technologies in a report on Monday, June 22nd. They issued a “neutral” rating and a $95.00 price target for the company. Royal Bank of Canada boosted their price target on shares of Trane Technologies from $81.00 to $97.00 and gave the stock a “sector perform” rating in a report on Thursday, July 30th. JPMorgan Chase & Co. boosted their price target on shares of Trane Technologies from $102.00 to $109.00 and gave the stock a “neutral” rating in a report on Wednesday, October 7th. Finally, Bank of America boosted their price target on shares of Trane Technologies from $135.00 to $140.00 and gave the stock a “buy” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $111.27.

In other Trane Technologies news, Director Richard J. Swift sold 4,354 shares of the stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $120.02, for a total value of $522,567.08. Also, EVP Paul A. Camuti sold 15,815 shares of the stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $117.76, for a total transaction of $1,862,374.40. Following the completion of the transaction, the executive vice president now owns 99,230 shares in the company, valued at $11,685,324.80. The disclosure for this sale can be found here. Insiders sold 93,213 shares of company stock valued at $11,090,051 in the last three months. 0.92% of the stock is currently owned by insiders.

About Trane Technologies

Trane Technologies plc provides climate control solutions for buildings, homes, and transportation. It offers offers air conditioners, exchangers, and handlers; airside and terminal devices; auxiliary power units; chillers; coils and condensers; gensets; furnaces; heat pumps; home automation products; humidifiers; hybrid and non-diesel transport refrigeration, and ice energy storage solutions; indoor air quality; industrial refrigeration products; large and light commercial unitary products;motor replacements; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.

Further Reading: What is the Ex-Dividend Date in Investing?

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Institutional Ownership by Quarter for Trane Technologies (NYSE:TT)

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