Kestra Advisory Services LLC Grows Stock Holdings in Trane Technologies plc $TT

Kestra Advisory Services LLC increased its holdings in shares of Trane Technologies plc (NYSE:TT) by 14.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,934 shares of the company’s stock after purchasing an additional 3,348 shares during the period. Kestra Advisory Services LLC’s holdings in Trane Technologies were worth $11,224,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of Trane Technologies by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 20,020,321 shares of the company’s stock valued at $7,791,909,000 after buying an additional 192,270 shares during the last quarter. State Street Corp grew its holdings in Trane Technologies by 0.6% during the fourth quarter. State Street Corp now owns 10,113,123 shares of the company’s stock worth $3,936,034,000 after acquiring an additional 61,393 shares during the period. Geode Capital Management LLC raised its position in Trane Technologies by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 5,071,072 shares of the company’s stock valued at $1,964,896,000 after acquiring an additional 14,179 shares in the last quarter. Norges Bank acquired a new position in Trane Technologies in the fourth quarter valued at approximately $1,163,124,000. Finally, Nordea Investment Management AB grew its stake in shares of Trane Technologies by 2.9% during the 4th quarter. Nordea Investment Management AB now owns 2,586,506 shares of the company’s stock worth $1,010,419,000 after purchasing an additional 72,998 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Trane Technologies Trading Down 0.0%

Shares of Trane Technologies stock opened at $479.69 on Monday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.10 and a quick ratio of 0.77. The stock’s 50 day simple moving average is $470.03 and its 200-day simple moving average is $444.39. The stock has a market cap of $106.04 billion, a P/E ratio of 37.10, a P/E/G ratio of 2.21 and a beta of 1.19. Trane Technologies plc has a 1-year low of $348.06 and a 1-year high of $505.87.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Friday, May 1st. The company reported $2.63 EPS for the quarter, beating the consensus estimate of $2.53 by $0.10. The firm had revenue of $4.97 billion during the quarter, compared to analysts’ expectations of $4.81 billion. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The business’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.45 earnings per share. Analysts predict that Trane Technologies plc will post 14.9 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 4th will be issued a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, September 4th. Trane Technologies’s payout ratio is currently 32.48%.

Insider Activity at Trane Technologies

In other news, insider Donald E. Simmons sold 4,593 shares of the business’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $500.00, for a total transaction of $2,296,500.00. Following the transaction, the insider owned 3,819 shares of the company’s stock, valued at approximately $1,909,500. The trade was a 54.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on TT shares. Barclays lifted their price objective on shares of Trane Technologies from $507.00 to $585.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Evercore began coverage on Trane Technologies in a research report on Monday, April 13th. They set an “outperform” rating and a $535.00 price target on the stock. BNP Paribas Exane initiated coverage on Trane Technologies in a report on Tuesday, April 14th. They issued an “outperform” rating and a $550.00 price objective on the stock. Sanford C. Bernstein set a $555.00 price objective on Trane Technologies in a research report on Thursday. Finally, Citigroup upped their target price on Trane Technologies from $525.00 to $570.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $512.50.

About Trane Technologies

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.