Corient Private Wealth LLC Purchases 38,437 Shares of Trane Technologies plc $TT

Corient Private Wealth LLC lifted its holdings in Trane Technologies plc (NYSE:TT) by 11.2% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 383,000 shares of the company’s stock after buying an additional 38,437 shares during the period. Corient Private Wealth LLC’s holdings in Trane Technologies were worth $149,163,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Brighton Jones LLC boosted its position in Trane Technologies by 60.0% in the fourth quarter. Brighton Jones LLC now owns 6,194 shares of the company’s stock worth $2,288,000 after purchasing an additional 2,323 shares during the last quarter. Sivia Capital Partners LLC increased its position in shares of Trane Technologies by 22.4% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,665 shares of the company’s stock valued at $728,000 after purchasing an additional 305 shares during the last quarter. Schnieders Capital Management LLC. bought a new stake in shares of Trane Technologies during the 2nd quarter worth $227,000. Nebula Research & Development LLC raised its stake in shares of Trane Technologies by 178.0% during the 2nd quarter. Nebula Research & Development LLC now owns 2,371 shares of the company’s stock worth $1,037,000 after purchasing an additional 1,518 shares during the period. Finally, Treasurer of the State of North Carolina boosted its holdings in shares of Trane Technologies by 0.5% in the 2nd quarter. Treasurer of the State of North Carolina now owns 104,140 shares of the company’s stock worth $45,552,000 after buying an additional 497 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TT. Sanford C. Bernstein initiated coverage on shares of Trane Technologies in a research report on Tuesday, June 9th. They set an “outperform” rating and a $550.00 price target for the company. Barclays boosted their target price on shares of Trane Technologies from $507.00 to $585.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Citigroup increased their target price on shares of Trane Technologies from $525.00 to $570.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Weiss Ratings restated a “buy (b)” rating on shares of Trane Technologies in a research note on Monday, April 20th. Finally, Evercore assumed coverage on shares of Trane Technologies in a report on Monday, April 13th. They issued an “outperform” rating and a $535.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $509.12.

Trane Technologies Price Performance

NYSE TT opened at $483.88 on Friday. The company has a quick ratio of 0.77, a current ratio of 1.10 and a debt-to-equity ratio of 0.46. The company has a market cap of $106.96 billion, a PE ratio of 37.42, a price-to-earnings-growth ratio of 2.23 and a beta of 1.20. Trane Technologies plc has a 52 week low of $348.06 and a 52 week high of $503.47. The firm’s 50-day simple moving average is $467.88 and its two-hundred day simple moving average is $435.22.

Trane Technologies (NYSE:TT) last posted its earnings results on Friday, May 1st. The company reported $2.63 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $0.10. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The business had revenue of $4.97 billion for the quarter, compared to analyst estimates of $4.81 billion. During the same quarter in the prior year, the firm posted $2.45 EPS. Trane Technologies’s revenue was up 6.0% on a year-over-year basis. Research analysts predict that Trane Technologies plc will post 14.88 earnings per share for the current year.

Trane Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 4th will be given a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, September 4th. Trane Technologies’s dividend payout ratio (DPR) is 32.48%.

Insider Buying and Selling at Trane Technologies

In related news, insider Donald E. Simmons sold 4,593 shares of Trane Technologies stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $500.00, for a total transaction of $2,296,500.00. Following the completion of the sale, the insider owned 3,819 shares of the company’s stock, valued at approximately $1,909,500. This trade represents a 54.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Christopher J. Kuehn sold 8,619 shares of the business’s stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $450.00, for a total value of $3,878,550.00. Following the transaction, the chief financial officer owned 60,576 shares of the company’s stock, valued at approximately $27,259,200. The trade was a 12.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is currently owned by company insiders.

Trane Technologies Profile

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.