Phillips Wealth Planners LLC Raises Stock Holdings in Trane Technologies plc (NYSE:TT)

Phillips Wealth Planners LLC lifted its holdings in shares of Trane Technologies plc (NYSE:TT) by 3.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,612 shares of the company’s stock after purchasing an additional 49 shares during the quarter. Phillips Wealth Planners LLC’s holdings in Trane Technologies were worth $637,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. DT Investment Partners LLC purchased a new position in shares of Trane Technologies during the third quarter worth about $36,000. Fortitude Family Office LLC lifted its position in Trane Technologies by 63.2% in the 2nd quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock worth $37,000 after buying an additional 43 shares during the last quarter. Triad Wealth Partners LLC bought a new stake in Trane Technologies in the 2nd quarter worth approximately $39,000. Quarry LP bought a new stake in Trane Technologies in the 2nd quarter worth approximately $39,000. Finally, Valley Wealth Managers Inc. bought a new position in shares of Trane Technologies during the 2nd quarter valued at $51,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Wells Fargo & Company upped their price target on shares of Trane Technologies from $320.00 to $360.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. Barclays raised their price objective on Trane Technologies from $425.00 to $440.00 and gave the company an “overweight” rating in a research note on Thursday. Morgan Stanley initiated coverage on Trane Technologies in a research note on Friday, September 6th. They set an “overweight” rating and a $425.00 price objective on the stock. Mizuho raised their price objective on Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Finally, Stephens reaffirmed an “equal weight” rating and set a $350.00 price objective on shares of Trane Technologies in a research note on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Trane Technologies presently has an average rating of “Hold” and a consensus price target of $380.15.

Trane Technologies Stock Up 1.6 %

NYSE TT opened at $376.15 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.84. The stock has a market capitalization of $84.89 billion, a PE ratio of 34.89, a PEG ratio of 2.59 and a beta of 1.01. Trane Technologies plc has a 1 year low of $211.31 and a 1 year high of $406.96. The business’s 50-day moving average is $377.83 and its 200 day moving average is $345.36.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 earnings per share for the quarter, beating the consensus estimate of $3.23 by $0.14. The business had revenue of $5.44 billion for the quarter, compared to analysts’ expectations of $5.32 billion. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The business’s revenue was up 10.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.79 EPS. Sell-side analysts forecast that Trane Technologies plc will post 10.89 earnings per share for the current year.

Trane Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be issued a dividend of $0.84 per share. The ex-dividend date is Friday, December 6th. This represents a $3.36 annualized dividend and a dividend yield of 0.89%. Trane Technologies’s payout ratio is 31.17%.

Insider Buying and Selling

In related news, CEO David S. Regnery sold 29,450 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $321.25, for a total value of $9,460,812.50. Following the completion of the transaction, the chief executive officer now directly owns 132,946 shares in the company, valued at $42,708,902.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Trane Technologies news, CEO David S. Regnery sold 29,450 shares of Trane Technologies stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $321.25, for a total value of $9,460,812.50. Following the completion of the sale, the chief executive officer now owns 132,946 shares of the company’s stock, valued at approximately $42,708,902.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Raymond D. Pittard sold 1,805 shares of Trane Technologies stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total transaction of $593,213.25. Following the completion of the sale, the executive vice president now directly owns 83,517 shares of the company’s stock, valued at approximately $27,447,862.05. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.38% of the stock is owned by company insiders.

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.