Empirical Financial Services LLC d.b.a. Empirical Wealth Management Acquires 335 Shares of Trane Technologies plc (NYSE:TT)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in Trane Technologies plc (NYSE:TT) by 24.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,705 shares of the company’s stock after purchasing an additional 335 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Trane Technologies were worth $416,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Keel Point LLC grew its stake in shares of Trane Technologies by 3.0% in the fourth quarter. Keel Point LLC now owns 1,326 shares of the company’s stock worth $323,000 after purchasing an additional 39 shares during the last quarter. Rosenberg Matthew Hamilton lifted its holdings in Trane Technologies by 27.2% in the fourth quarter. Rosenberg Matthew Hamilton now owns 192 shares of the company’s stock valued at $47,000 after buying an additional 41 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its holdings in Trane Technologies by 2.3% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,847 shares of the company’s stock valued at $450,000 after buying an additional 42 shares during the period. Cedrus LLC lifted its holdings in Trane Technologies by 2.6% in the fourth quarter. Cedrus LLC now owns 1,669 shares of the company’s stock valued at $407,000 after buying an additional 43 shares during the period. Finally, Certuity LLC lifted its holdings in Trane Technologies by 3.1% in the third quarter. Certuity LLC now owns 1,549 shares of the company’s stock valued at $314,000 after buying an additional 46 shares during the period. Institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on TT shares. Wells Fargo & Company upped their price objective on shares of Trane Technologies from $281.00 to $295.00 and gave the company an “underweight” rating in a report on Thursday, May 2nd. Royal Bank of Canada upped their price objective on shares of Trane Technologies from $231.00 to $246.00 and gave the company a “sector perform” rating in a report on Friday, February 2nd. Citigroup upped their price objective on shares of Trane Technologies from $355.00 to $366.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Stephens upped their target price on shares of Trane Technologies from $310.00 to $320.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 1st. Finally, The Goldman Sachs Group upped their target price on shares of Trane Technologies from $287.00 to $326.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Trane Technologies presently has a consensus rating of “Hold” and a consensus price target of $300.54.

Insiders Place Their Bets

In other news, CFO Christopher J. Kuehn sold 2,767 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $268.31, for a total transaction of $742,413.77. Following the completion of the transaction, the chief financial officer now directly owns 54,788 shares of the company’s stock, valued at $14,700,168.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Paul A. Camuti sold 508 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $273.34, for a total transaction of $138,856.72. Following the completion of the sale, the executive vice president now directly owns 89,447 shares in the company, valued at $24,449,442.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Christopher J. Kuehn sold 2,767 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $268.31, for a total transaction of $742,413.77. Following the sale, the chief financial officer now owns 54,788 shares of the company’s stock, valued at $14,700,168.28. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,254 shares of company stock valued at $7,484,643. Insiders own 0.39% of the company’s stock.

Trane Technologies Trading Up 0.5 %

Shares of TT opened at $327.53 on Thursday. The firm’s 50-day moving average price is $297.50 and its 200-day moving average price is $260.63. The firm has a market capitalization of $74.14 billion, a price-to-earnings ratio of 34.99, a PEG ratio of 2.54 and a beta of 1.01. The company has a current ratio of 1.13, a quick ratio of 0.74 and a debt-to-equity ratio of 0.58. Trane Technologies plc has a 1-year low of $162.04 and a 1-year high of $329.14.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $1.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.30. Trane Technologies had a net margin of 11.81% and a return on equity of 32.78%. The company had revenue of $4.22 billion during the quarter, compared to analysts’ expectations of $3.99 billion. During the same period last year, the company posted $1.41 EPS. Trane Technologies’s revenue was up 15.0% on a year-over-year basis. Sell-side analysts anticipate that Trane Technologies plc will post 10.48 EPS for the current year.

Trane Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be issued a $0.84 dividend. The ex-dividend date is Friday, June 7th. This represents a $3.36 annualized dividend and a yield of 1.03%. Trane Technologies’s dividend payout ratio (DPR) is presently 35.90%.

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.