Invera Wealth Advisors LLC Has $4.53 Million Position in Trane Technologies plc (NYSE:TT)

Invera Wealth Advisors LLC reduced its stake in Trane Technologies plc (NYSE:TT) by 6.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,634 shares of the company’s stock after selling 1,165 shares during the quarter. Trane Technologies accounts for 3.8% of Invera Wealth Advisors LLC’s portfolio, making the stock its 5th largest position. Invera Wealth Advisors LLC’s holdings in Trane Technologies were worth $4,527,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TT. Avior Wealth Management LLC boosted its position in Trane Technologies by 58.0% during the 3rd quarter. Avior Wealth Management LLC now owns 177 shares of the company’s stock worth $36,000 after acquiring an additional 65 shares during the last quarter. Caprock Group LLC boosted its holdings in Trane Technologies by 15.8% during the third quarter. Caprock Group LLC now owns 1,528 shares of the company’s stock worth $310,000 after purchasing an additional 208 shares during the last quarter. Handelsbanken Fonder AB boosted its holdings in Trane Technologies by 5.8% during the third quarter. Handelsbanken Fonder AB now owns 37,311 shares of the company’s stock worth $7,571,000 after purchasing an additional 2,037 shares during the last quarter. Connecticut Wealth Management LLC bought a new position in Trane Technologies in the third quarter valued at $325,000. Finally, Ballentine Partners LLC increased its stake in Trane Technologies by 3.6% in the 3rd quarter. Ballentine Partners LLC now owns 1,802 shares of the company’s stock valued at $366,000 after buying an additional 62 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on TT. Citigroup increased their price objective on shares of Trane Technologies from $309.00 to $355.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Royal Bank of Canada raised their price target on Trane Technologies from $231.00 to $246.00 and gave the company a “sector perform” rating in a research note on Friday, February 2nd. The Goldman Sachs Group upped their price objective on Trane Technologies from $253.00 to $287.00 and gave the stock a “neutral” rating in a research note on Monday, February 5th. Barclays raised their target price on shares of Trane Technologies from $286.00 to $325.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. Finally, Stephens boosted their target price on shares of Trane Technologies from $235.00 to $280.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 6th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $251.83.

Trane Technologies Stock Performance

Shares of NYSE:TT traded down $3.67 on Monday, hitting $300.86. The company had a trading volume of 1,878,020 shares, compared to its average volume of 1,010,172. The stock has a 50 day moving average price of $292.79 and a 200 day moving average price of $255.54. The company has a current ratio of 1.13, a quick ratio of 0.78 and a debt-to-equity ratio of 0.57. The stock has a market cap of $68.32 billion, a price-to-earnings ratio of 34.23, a P/E/G ratio of 2.57 and a beta of 1.05. Trane Technologies plc has a 1-year low of $162.04 and a 1-year high of $307.95.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Thursday, February 1st. The company reported $2.17 EPS for the quarter, beating analysts’ consensus estimates of $2.13 by $0.04. The business had revenue of $4.42 billion for the quarter, compared to analyst estimates of $4.43 billion. Trane Technologies had a net margin of 11.45% and a return on equity of 32.01%. Trane Technologies’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.82 EPS. Analysts expect that Trane Technologies plc will post 10.2 EPS for the current year.

Trane Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be issued a dividend of $0.84 per share. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $3.36 annualized dividend and a yield of 1.12%. Trane Technologies’s payout ratio is currently 38.23%.

Insider Activity at Trane Technologies

In other news, EVP Paul A. Camuti sold 508 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $273.34, for a total value of $138,856.72. Following the completion of the sale, the executive vice president now owns 89,447 shares of the company’s stock, valued at $24,449,442.98. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, EVP Paul A. Camuti sold 508 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $273.34, for a total transaction of $138,856.72. Following the transaction, the executive vice president now directly owns 89,447 shares of the company’s stock, valued at $24,449,442.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Keith A. Sultana sold 1,637 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $267.74, for a total value of $438,290.38. Following the completion of the sale, the senior vice president now owns 42,374 shares of the company’s stock, valued at $11,345,214.76. The disclosure for this sale can be found here. Insiders sold 29,874 shares of company stock worth $8,462,825 in the last ninety days. 0.39% of the stock is owned by company 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.