Wealthfront Advisers LLC Raises Holdings in Trane Technologies plc $TT

Wealthfront Advisers LLC grew its holdings in Trane Technologies plc (NYSE:TT) by 4.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,225 shares of the company’s stock after buying an additional 1,120 shares during the quarter. Wealthfront Advisers LLC’s holdings in Trane Technologies were worth $12,179,000 at the end of the most recent quarter.

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

Trane Technologies Price Performance

Trane Technologies stock opened at $475.00 on Friday. The firm has a market capitalization of $105.00 billion, a PE ratio of 36.74, a P/E/G ratio of 2.21 and a beta of 1.19. Trane Technologies plc has a 52 week low of $348.06 and a 52 week high of $505.87. The firm’s 50-day simple moving average is $469.82 and its 200 day simple moving average is $446.82. The company has a quick ratio of 0.77, a current ratio of 1.10 and a debt-to-equity ratio of 0.46.

Trane Technologies (NYSE:TT) last posted its earnings results on Friday, May 1st. The company reported $2.63 earnings per share 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 the consensus estimate of $4.81 billion. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period last year, the firm posted $2.45 EPS. On average, equities research analysts predict that Trane Technologies plc will post 14.89 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of analysts recently commented on TT shares. Evercore started coverage on shares of Trane Technologies in a report on Monday, April 13th. They set an “outperform” rating and a $535.00 price objective on the stock. BNP Paribas Exane assumed coverage on shares of Trane Technologies in a report on Tuesday, April 14th. They issued an “outperform” rating and a $550.00 target price for the company. KeyCorp lifted their price target on shares of Trane Technologies from $525.00 to $555.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Weiss Ratings reissued a “buy (b)” rating on shares of Trane Technologies in a research note on Monday, April 20th. Finally, Royal Bank Of Canada upped their price target on Trane Technologies from $440.00 to $501.00 and gave the stock a “sector perform” rating in a report on Friday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Trane Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $516.67.

Insider Activity

In related news, insider Donald E. Simmons sold 4,593 shares of Trane Technologies stock in a transaction that occurred 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 transaction, the insider directly owned 3,819 shares in the company, valued at $1,909,500. The trade was a 54.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is owned by corporate 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.