Trane Technologies plc (NYSE:TT) Holdings Lowered by Collective Family Office LLC

Collective Family Office LLC reduced its holdings in Trane Technologies plc (NYSE:TT) by 7.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,181 shares of the company’s stock after selling 100 shares during the period. Collective Family Office LLC’s holdings in Trane Technologies were worth $355,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Kestra Advisory Services LLC increased its position in Trane Technologies by 0.6% in the 3rd quarter. Kestra Advisory Services LLC now owns 17,581 shares of the company’s stock worth $3,567,000 after purchasing an additional 100 shares during the last quarter. Rafferty Asset Management LLC increased its holdings in shares of Trane Technologies by 10.4% during the 3rd quarter. Rafferty Asset Management LLC now owns 18,166 shares of the company’s stock valued at $3,686,000 after acquiring an additional 1,704 shares during the last quarter. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Trane Technologies during the 3rd quarter valued at about $1,939,000. Envestnet Asset Management Inc. increased its holdings in shares of Trane Technologies by 13.2% during the 3rd quarter. Envestnet Asset Management Inc. now owns 242,570 shares of the company’s stock valued at $49,220,000 after acquiring an additional 28,273 shares during the last quarter. Finally, Aigen Investment Management LP acquired a new position in shares of Trane Technologies during the 3rd quarter valued at about $218,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Price Performance

Shares of TT stock opened at $335.93 on Friday. The stock has a 50 day moving average of $320.40 and a two-hundred day moving average of $285.49. The company has a current ratio of 1.13, a quick ratio of 0.74 and a debt-to-equity ratio of 0.58. Trane Technologies plc has a 12 month low of $182.96 and a 12 month high of $345.46. The company has a market capitalization of $76.04 billion, a P/E ratio of 35.89, a P/E/G ratio of 2.75 and a beta of 1.01.

Trane Technologies (NYSE:TT) last posted its earnings results on Tuesday, April 30th. The company reported $1.94 EPS for the quarter, topping the consensus estimate of $1.64 by $0.30. The business had revenue of $4.22 billion during the quarter, compared to the consensus estimate of $3.99 billion. Trane Technologies had a return on equity of 32.78% and a net margin of 11.81%. Trane Technologies’s revenue was up 15.0% on a year-over-year basis. During the same quarter last year, the company earned $1.41 EPS. As a group, equities analysts expect that Trane Technologies plc will post 10.46 EPS for the current year.

Trane Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $3.36 annualized dividend and a dividend yield of 1.00%. Trane Technologies’s dividend payout ratio (DPR) is presently 35.90%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. TD Cowen increased their price objective on Trane Technologies from $325.00 to $360.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Citigroup increased their price objective on Trane Technologies from $355.00 to $366.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Barclays raised their target price on Trane Technologies from $354.00 to $380.00 and gave the company an “overweight” rating in a report on Tuesday, June 4th. Robert W. Baird raised their target price on Trane Technologies from $315.00 to $344.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Finally, The Goldman Sachs Group raised their target price on Trane Technologies from $287.00 to $326.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Trane Technologies presently has a consensus rating of “Hold” and a consensus price target of $309.79.

Insiders Place Their Bets

In other news, SVP Evan M. Turtz sold 8,988 shares of the business’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $321.30, for a total transaction of $2,887,844.40. Following the completion of the sale, the senior vice president now owns 20,758 shares in the company, valued at $6,669,545.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CFO Christopher J. Kuehn sold 4,000 shares of the company’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $318.67, for a total transaction of $1,274,680.00. Following the completion of the transaction, the chief financial officer now directly owns 61,293 shares of the company’s stock, valued at $19,532,240.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Evan M. Turtz sold 8,988 shares of the company’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $321.30, for a total value of $2,887,844.40. Following the transaction, the senior vice president now directly owns 20,758 shares of the company’s stock, valued at $6,669,545.40. The disclosure for this sale can be found here. Insiders own 0.38% of the company’s stock.

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.