WBI Investments LLC Takes $518,000 Position in Trane Technologies plc $TT

WBI Investments LLC acquired a new stake in shares of Trane Technologies plc (NYSE:TT) during the third quarter, HoldingsChannel reports. The firm acquired 1,227 shares of the company’s stock, valued at approximately $518,000.

Several other institutional investors have also bought and sold shares of the stock. Brighton Jones LLC boosted its position in shares of Trane Technologies by 60.0% during the 4th quarter. Brighton Jones LLC now owns 6,194 shares of the company’s stock valued at $2,288,000 after purchasing an additional 2,323 shares in the last quarter. Sivia Capital Partners LLC lifted its stake in Trane Technologies by 22.4% during the second 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. acquired a new stake in Trane Technologies during the second quarter valued at approximately $227,000. Rockefeller Capital Management L.P. boosted its holdings in Trane Technologies by 7.4% during the second quarter. Rockefeller Capital Management L.P. now owns 27,909 shares of the company’s stock worth $12,208,000 after buying an additional 1,934 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its position in Trane Technologies by 4.7% in the second quarter. Nomura Asset Management Co. Ltd. now owns 75,011 shares of the company’s stock worth $32,811,000 after buying an additional 3,347 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on TT. Royal Bank Of Canada increased their price objective on Trane Technologies from $469.00 to $470.00 and gave the company a “sector perform” rating in a research report on Friday, January 30th. UBS Group cut their target price on Trane Technologies from $544.00 to $520.00 and set a “buy” rating on the stock in a research report on Monday, January 5th. KeyCorp raised Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 target price for the company in a report on Monday, December 15th. JPMorgan Chase & Co. boosted their price objective on Trane Technologies from $434.00 to $460.00 and gave the stock a “neutral” rating in a report on Friday, January 30th. Finally, Barclays upped their price objective on shares of Trane Technologies from $505.00 to $507.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $484.67.

Trane Technologies Price Performance

NYSE TT opened at $426.66 on Thursday. Trane Technologies plc has a twelve month low of $298.15 and a twelve month high of $479.37. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.25. The stock has a market capitalization of $94.43 billion, a PE ratio of 32.87, a P/E/G ratio of 2.24 and a beta of 1.19. The stock has a 50-day simple moving average of $428.78 and a 200 day simple moving average of $417.24.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Thursday, January 29th. The company reported $2.86 EPS for the quarter, beating the consensus estimate of $2.81 by $0.05. The firm had revenue of $5.14 billion during the quarter, compared to analysts’ expectations of $5.09 billion. Trane Technologies had a return on equity of 36.34% and a net margin of 13.69%.The company’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.61 EPS. Research analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 6th will be issued a $1.05 dividend. This represents a $4.20 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, March 6th. This is an increase from Trane Technologies’s previous quarterly dividend of $0.94. Trane Technologies’s dividend payout ratio (DPR) is presently 32.36%.

Insiders Place Their Bets

In other news, CFO Christopher J. Kuehn sold 2,389 shares of the company’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $462.70, for a total transaction of $1,105,390.30. Following the transaction, the chief financial officer directly owned 60,486 shares in the company, valued at approximately $27,986,872.20. This represents a 3.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Elizabeth A. Elwell sold 635 shares of the business’s stock in a transaction on Friday, March 6th. The stock was sold at an average price of $422.70, for a total value of $268,414.50. Following the sale, the chief accounting officer owned 7,100 shares of the company’s stock, valued at approximately $3,001,170. The trade was a 8.21% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 49,378 shares of company stock worth $21,228,464 over the last ninety days. Company insiders own 0.14% of the company’s stock.

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.