Janney Montgomery Scott LLC Lowers Stake in Trane Technologies plc (NYSE:TT)

Janney Montgomery Scott LLC cut its stake in Trane Technologies plc (NYSE:TT) by 0.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 111,227 shares of the company’s stock after selling 1,044 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Trane Technologies were worth $43,238,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. DT Investment Partners LLC bought a new position in Trane Technologies in the third quarter worth about $36,000. Fortitude Family Office LLC raised its stake in shares of Trane Technologies by 63.2% during the 2nd quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock worth $37,000 after acquiring an additional 43 shares in the last quarter. Triad Wealth Partners LLC purchased a new stake in Trane Technologies during the second quarter valued at approximately $39,000. Quarry LP acquired a new stake in Trane Technologies in the second quarter valued at approximately $39,000. Finally, Valley Wealth Managers Inc. acquired a new position in shares of Trane Technologies during the second quarter worth $51,000. 82.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on TT shares. Wells Fargo & Company raised their price objective on Trane Technologies from $320.00 to $360.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. Stephens restated an “equal weight” rating and set a $350.00 price target on shares of Trane Technologies in a research note on Monday, August 5th. HSBC lowered shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price objective for the company. in a research report on Thursday. Mizuho boosted their target price on shares of Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Finally, Barclays raised their price target on shares of Trane Technologies from $425.00 to $440.00 and gave the stock an “overweight” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Trane Technologies presently has a consensus rating of “Hold” and a consensus target price of $380.15.

Insider Activity at Trane Technologies

In other news, EVP Raymond D. Pittard sold 1,805 shares of the stock in a transaction dated 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 $27,447,862.05. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, EVP Raymond D. Pittard sold 1,805 shares of the company’s 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 transaction, the executive vice president now directly owns 83,517 shares of the company’s stock, valued at $27,447,862.05. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, 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 value of $9,460,812.50. Following the transaction, the chief executive officer now owns 132,946 shares in the company, valued at $42,708,902.50. 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 Price Performance

Shares of TT opened at $376.15 on Monday. The business’s 50-day moving average is $377.83 and its two-hundred day moving average is $346.08. The company has a market capitalization of $84.64 billion, a P/E ratio of 34.89, a P/E/G ratio of 2.51 and a beta of 1.02. Trane Technologies plc has a fifty-two week low of $211.31 and a fifty-two week high of $406.96. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.84 and a current ratio of 1.22.

Trane Technologies (NYSE:TT) last posted its earnings results on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, topping 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 firm had revenue of $5.44 billion for the quarter, compared to analyst estimates of $5.32 billion. During the same period last year, the company earned $2.79 earnings per share. Trane Technologies’s revenue for the quarter was up 10.0% compared to the same quarter last year. Research analysts predict that Trane Technologies plc will post 11.06 earnings per share for the current year.

Trane Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be issued a dividend of $0.84 per share. 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 dividend payout ratio (DPR) is presently 31.17%.

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.