Greenwich Wealth Management LLC Has $8.87 Million Position in Trane Technologies plc (NYSE:TT)

Greenwich Wealth Management LLC increased its position in shares of Trane Technologies plc (NYSE:TT) by 0.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,805 shares of the company’s stock after acquiring an additional 125 shares during the period. Trane Technologies comprises 0.6% of Greenwich Wealth Management LLC’s holdings, making the stock its 24th largest holding. Greenwich Wealth Management LLC’s holdings in Trane Technologies were worth $8,865,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in TT. Vanguard Group Inc. increased its position in Trane Technologies by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 18,887,514 shares of the company’s stock worth $5,670,032,000 after purchasing an additional 174,251 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Trane Technologies by 0.5% during the 1st quarter. JPMorgan Chase & Co. now owns 17,393,733 shares of the company’s stock valued at $5,221,599,000 after acquiring an additional 80,536 shares in the last quarter. International Assets Investment Management LLC increased its holdings in Trane Technologies by 35,914.4% in the 3rd quarter. International Assets Investment Management LLC now owns 1,645,137 shares of the company’s stock worth $639,514,000 after purchasing an additional 1,640,569 shares in the last quarter. Mackenzie Financial Corp raised its position in Trane Technologies by 0.3% in the second 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 during the last quarter. Finally, Raymond James & Associates boosted its stake in shares of Trane Technologies by 3.1% during the third quarter. Raymond James & Associates now owns 1,076,484 shares of the company’s stock valued at $418,462,000 after purchasing an additional 32,079 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on TT. Wells Fargo & Company lifted their target price on shares of Trane Technologies from $320.00 to $360.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. HSBC lowered Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 target price for the company. in a research report on Thursday. Robert W. Baird decreased their price target on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a research note on Thursday. Morgan Stanley assumed coverage on Trane Technologies in a report on Friday, September 6th. They issued an “overweight” rating and a $425.00 target price on the stock. Finally, Stephens restated an “equal weight” rating and issued a $350.00 price target on shares of Trane Technologies in a research report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Trane Technologies currently has an average rating of “Hold” and a consensus price target of $380.15.

Trane Technologies Stock Up 1.6 %

TT traded up $5.99 during mid-day trading on Friday, reaching $376.15. 1,550,878 shares of the stock were exchanged, compared to its average volume of 1,106,589. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.84 and a current ratio of 1.22. The company has a 50 day moving average price of $377.83 and a two-hundred day moving average price of $345.36. Trane Technologies plc has a 1 year low of $211.31 and a 1 year high of $406.96. The stock has a market capitalization of $84.89 billion, a PE ratio of 34.89, a price-to-earnings-growth ratio of 2.59 and a beta of 1.01.

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

Trane Technologies Dividend Announcement

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

Insider Transactions at Trane Technologies

In other news, CEO David S. Regnery sold 29,450 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $321.25, for a total transaction of $9,460,812.50. Following the completion of the transaction, the chief executive officer now owns 132,946 shares in the company, valued at approximately $42,708,902.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO David S. Regnery sold 29,450 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $321.25, for a total transaction of $9,460,812.50. Following the sale, the chief executive officer now owns 132,946 shares of the company’s stock, valued at approximately $42,708,902.50. This represents a 0.00 % decrease in their position. The sale 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 the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total value of $593,213.25. Following the sale, the executive vice president now owns 83,517 shares in the company, 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. 0.38% of the stock is currently 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.