Lido Advisors LLC Purchases 5,235 Shares of Trane Technologies plc $TT

Lido Advisors LLC raised its position in Trane Technologies plc (NYSE:TT) by 16.0% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 37,856 shares of the company’s stock after acquiring an additional 5,235 shares during the period. Lido Advisors LLC’s holdings in Trane Technologies were worth $17,110,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of TT. Amundi raised its holdings in shares of Trane Technologies by 47.8% in the first quarter. Amundi now owns 2,174,396 shares of the company’s stock valued at $906,158,000 after purchasing an additional 703,018 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of Trane Technologies by 10.6% in the first quarter. Janus Henderson Group PLC now owns 1,878,018 shares of the company’s stock worth $782,707,000 after purchasing an additional 180,537 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Trane Technologies by 3.2% during the first quarter. Dimensional Fund Advisors LP now owns 1,035,241 shares of the company’s stock worth $431,347,000 after purchasing an additional 32,286 shares during the last quarter. Ninety One UK Ltd boosted its holdings in Trane Technologies by 0.4% during the third quarter. Ninety One UK Ltd now owns 926,668 shares of the company’s stock worth $418,835,000 after purchasing an additional 3,624 shares during the last quarter. Finally, California Public Employees Retirement System grew its position in Trane Technologies by 51.9% in the first quarter. California Public Employees Retirement System now owns 686,691 shares of the company’s stock valued at $286,172,000 after purchasing an additional 234,666 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TT. The Goldman Sachs Group upgraded shares of Trane Technologies from a “neutral” rating to a “buy” rating and lifted their price target for the company from $548.00 to $565.00 in a research note on Wednesday, October 14th. Robert W. Baird boosted their price target on shares of Trane Technologies from $515.00 to $532.00 and gave the stock a “neutral” rating in a research report on Thursday, July 23rd. JPMorgan Chase & Co. reduced their price objective on shares of Trane Technologies from $550.00 to $480.00 and set an “overweight” rating for the company in a research note on Wednesday. Weiss Ratings upgraded Trane Technologies from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, September 10th. Finally, Royal Bank Of Canada lowered their target price on Trane Technologies from $502.00 to $486.00 and set a “sector perform” rating on the stock in a research report on Friday, October 30th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $532.21.

Insider Buying and Selling

In other Trane Technologies news, CEO David Regnery sold 48,091 shares of the stock in a transaction on Tuesday, October 6th. The shares were sold at an average price of $480.00, for a total value of $23,083,680.00. Following the completion of the sale, the chief executive officer owned 96,951 shares in the company, valued at $46,536,480. This trade represents a 33.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available 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.

Trane Technologies Trading Up 0.9%

Shares of Trane Technologies stock opened at $424.68 on Thursday. The stock has a market cap of $92.96 billion, a P/E ratio of 28.70, a P/E/G ratio of 1.98 and a beta of 1.19. The company has a quick ratio of 0.79, a current ratio of 1.12 and a debt-to-equity ratio of 0.43. Trane Technologies plc has a 12-month low of $348.06 and a 12-month high of $505.87. The business’s 50 day moving average is $444.35 and its 200-day moving average is $454.94.

Trane Technologies (NYSE:TT) last released its earnings results on Thursday, October 29th. The company reported $4.86 earnings per share for the quarter, beating the consensus estimate of $4.74 by $0.12. Trane Technologies had a net margin of 13.56% and a return on equity of 37.26%. The business had revenue of $6.76 billion during the quarter, compared to analysts’ expectations of $6.50 billion. During the same period last year, the business earned $3.88 earnings per share. The firm’s revenue was up 17.7% on a year-over-year basis. Equities research analysts predict that Trane Technologies plc will post 15.29 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Friday, December 4th will be paid a $1.05 dividend. The ex-dividend date is Friday, December 4th. This represents a $4.20 dividend on an annualized basis and a yield of 1.0%. Trane Technologies’s dividend payout ratio (DPR) is currently 29.66%.

About Trane Technologies

Trane Technologies plc is a global climate innovator that designs, manufactures, and services heating, ventilation, air conditioning, and refrigeration systems. Its products and services support commercial buildings, homes, and transportation applications, including temperature-controlled shipping. The company’s portfolio includes the Trane brand of HVAC systems and building services, as well as Thermo King equipment for transport refrigeration and climate control. It also offers building controls, energy-efficiency solutions, system maintenance, and related services.