Raymond James Financial Services Advisors Inc. Trims Stake in Trane Technologies plc (NYSE:TT)

Raymond James Financial Services Advisors Inc. lessened its holdings in shares of Trane Technologies plc (NYSE:TT) by 4.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 567,134 shares of the company’s stock after selling 28,736 shares during the period. Raymond James Financial Services Advisors Inc. owned about 0.25% of Trane Technologies worth $170,254,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of TT. Keel Point LLC increased its position in shares of Trane Technologies by 3.0% during the fourth quarter. Keel Point LLC now owns 1,326 shares of the company’s stock worth $323,000 after acquiring an additional 39 shares during the period. Rosenberg Matthew Hamilton lifted its holdings in shares of Trane Technologies by 27.2% in the 4th quarter. Rosenberg Matthew Hamilton now owns 192 shares of the company’s stock worth $47,000 after buying an additional 41 shares during the period. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Trane Technologies by 2.3% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,847 shares of the company’s stock valued at $450,000 after acquiring an additional 42 shares in the last quarter. Level Four Advisory Services LLC grew its holdings in Trane Technologies by 1.5% during the 4th quarter. Level Four Advisory Services LLC now owns 2,757 shares of the company’s stock worth $672,000 after acquiring an additional 42 shares in the last quarter. Finally, Cedrus LLC increased its position in Trane Technologies by 2.6% during the 4th quarter. Cedrus LLC now owns 1,669 shares of the company’s stock valued at $407,000 after purchasing an additional 43 shares during the period. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, SVP Keith A. Sultana sold 1,637 shares of the stock in a transaction 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 sale, the senior vice president now owns 42,374 shares in the company, valued at $11,345,214.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Keith A. Sultana sold 1,637 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $267.74, for a total value of $438,290.38. Following the completion of the transaction, the senior vice president now owns 42,374 shares of the company’s stock, valued at approximately $11,345,214.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO David S. Regnery sold 6,990 shares of Trane Technologies stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $286.19, for a total value of $2,000,468.10. Following the transaction, the chief executive officer now owns 113,874 shares of the company’s stock, valued at $32,589,600.06. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,874 shares of company stock worth $8,462,825. 0.39% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on TT shares. Stephens increased their price objective on shares of Trane Technologies from $235.00 to $280.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 6th. Royal Bank of Canada lifted their price target on Trane Technologies from $231.00 to $246.00 and gave the company a “sector perform” rating in a report on Friday, February 2nd. Barclays upped their price objective on Trane Technologies from $286.00 to $325.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. Citigroup lifted their target price on Trane Technologies from $309.00 to $355.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Finally, The Goldman Sachs Group boosted their target price on shares of Trane Technologies from $253.00 to $287.00 and gave the stock a “neutral” rating in a report on Monday, February 5th. 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. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $251.83.

Trane Technologies Stock Performance

TT stock traded up $16.50 during trading on Tuesday, reaching $317.36. The company had a trading volume of 2,419,606 shares, compared to its average volume of 1,027,150. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.78 and a current ratio of 1.13. Trane Technologies plc has a twelve month low of $162.04 and a twelve month high of $327.09. The company has a market cap of $72.06 billion, a price-to-earnings ratio of 36.10, a price-to-earnings-growth ratio of 2.57 and a beta of 1.05. The firm has a 50-day simple moving average of $293.61 and a 200-day simple moving average of $256.33.

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

Trane Technologies Dividend Announcement

The company also recently announced 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. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend is Thursday, June 6th. Trane Technologies’s dividend payout ratio (DPR) is 38.23%.

Trane Technologies 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.