Stonegate Investment Group LLC Makes New $5.34 Million Investment in Trane Technologies plc (NYSE:TT)

Stonegate Investment Group LLC acquired a new position in Trane Technologies plc (NYSE:TT) during the third quarter, according to the company in its most recent filing with the SEC. The fund acquired 13,745 shares of the company’s stock, valued at approximately $5,343,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Trane Technologies by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 18,887,514 shares of the company’s stock worth $5,670,032,000 after buying an additional 174,251 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Trane Technologies by 0.5% in the 1st quarter. JPMorgan Chase & Co. now owns 17,393,733 shares of the company’s stock valued at $5,221,599,000 after purchasing an additional 80,536 shares in the last quarter. Mackenzie Financial Corp raised its stake in shares of Trane Technologies by 0.3% in the 2nd quarter. Mackenzie Financial Corp now owns 1,085,468 shares of the company’s stock valued at $357,043,000 after purchasing an additional 2,898 shares in the last quarter. TD Asset Management Inc raised its stake in shares of Trane Technologies by 41.2% in the 1st quarter. TD Asset Management Inc now owns 1,060,632 shares of the company’s stock valued at $318,402,000 after purchasing an additional 309,738 shares in the last quarter. Finally, Raymond James & Associates raised its stake in shares of Trane Technologies by 2.2% in the 2nd quarter. Raymond James & Associates now owns 1,044,405 shares of the company’s stock valued at $343,536,000 after purchasing an additional 22,023 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Stock Performance

NYSE TT traded down $0.61 on Friday, hitting $399.53. The stock had a trading volume of 202,168 shares, compared to its average volume of 1,094,514. Trane Technologies plc has a one year low of $184.02 and a one year high of $406.96. The company has a quick ratio of 0.84, a current ratio of 1.17 and a debt-to-equity ratio of 0.62. The stock has a market cap of $90.43 billion, a price-to-earnings ratio of 42.75, a P/E/G ratio of 2.75 and a beta of 1.01. The company’s 50-day moving average is $367.98 and its two-hundred day moving average is $338.47.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $3.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.08 by $0.22. The business had revenue of $5.31 billion during the quarter, compared to analysts’ expectations of $5.13 billion. Trane Technologies had a net margin of 12.33% and a return on equity of 33.97%. The business’s revenue was up 12.8% on a year-over-year basis. During the same period last year, the firm posted $2.68 earnings per share. On average, analysts expect that Trane Technologies plc will post 10.88 earnings per share for the current year.

Trane Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 0.84%. The ex-dividend date is Friday, December 6th. Trane Technologies’s dividend payout ratio (DPR) is presently 35.90%.

Wall Street Analyst Weigh In

TT has been the topic of a number of recent analyst reports. Barclays upped their target price on shares of Trane Technologies from $394.00 to $425.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Robert W. Baird increased their price objective on shares of Trane Technologies from $360.00 to $365.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Royal Bank of Canada increased their price objective on shares of Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 1st. Wells Fargo & Company increased their price objective on shares of Trane Technologies from $320.00 to $360.00 and gave the stock an “underweight” rating in a research note on Monday, October 7th. Finally, Stephens reiterated 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 research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $373.58.

Insider Activity

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