Apella Capital LLC Sells 49 Shares of Trane Technologies plc (NYSE:TT)

Apella Capital LLC reduced its holdings in Trane Technologies plc (NYSE:TT) by 2.2% in the second quarter, HoldingsChannel reports. The firm owned 2,132 shares of the company’s stock after selling 49 shares during the period. Apella Capital LLC’s holdings in Trane Technologies were worth $712,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Motco acquired a new stake in Trane Technologies in the fourth quarter valued at approximately $27,000. Sachetta LLC purchased a new position in shares of Trane Technologies during the fourth quarter valued at approximately $27,000. GoalVest Advisory LLC boosted its position in shares of Trane Technologies by 157.1% during the first quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock valued at $27,000 after buying an additional 55 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of Trane Technologies during the first quarter valued at approximately $27,000. Finally, BOK Financial Private Wealth Inc. purchased a new position in shares of Trane Technologies during the first quarter valued at approximately $30,000. 82.97% of the stock is currently owned by institutional investors.

Insider Activity at Trane Technologies

In related news, CEO David S. Regnery sold 29,450 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $321.25, for a total transaction of $9,460,812.50. Following the sale, the chief executive officer now directly owns 132,946 shares in the company, valued at approximately $42,708,902.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO David S. Regnery sold 29,450 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $321.25, for a total transaction of $9,460,812.50. Following the completion of the transaction, the chief executive officer now directly owns 132,946 shares in the company, valued at $42,708,902.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Evan M. Turtz sold 8,988 shares of the business’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $321.30, for a total value of $2,887,844.40. Following the transaction, the senior vice president now owns 20,758 shares of the company’s stock, valued at $6,669,545.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 42,438 shares of company stock worth $13,623,337. 0.38% of the stock is owned by company insiders.

Trane Technologies Stock Performance

Shares of TT traded up $0.78 during mid-day trading on Wednesday, hitting $323.69. The stock had a trading volume of 1,208,858 shares, compared to its average volume of 1,139,528. The firm has a market cap of $73.05 billion, a P/E ratio of 34.56, a PEG ratio of 2.50 and a beta of 1.01. The business has a fifty day moving average price of $331.08 and a 200-day moving average price of $307.40. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.17 and a quick ratio of 0.74. Trane Technologies plc has a 52 week low of $184.02 and a 52 week high of $351.41.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Wednesday, July 31st. The company reported $3.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.08 by $0.22. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. The company had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.13 billion. During the same period in the previous year, the company posted $2.68 EPS. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. On average, equities research analysts expect that Trane Technologies plc will post 10.83 EPS for the current year.

Trane Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be paid a dividend of $0.84 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.04%. Trane Technologies’s payout ratio is 35.90%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Royal Bank of Canada lifted their price target on Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a report on Thursday, August 1st. Wells Fargo & Company lifted their price target on Trane Technologies from $310.00 to $315.00 and gave the stock an “underweight” rating in a report on Thursday, August 1st. Citigroup lifted their price target on Trane Technologies from $355.00 to $366.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. UBS Group lifted their price target on Trane Technologies from $330.00 to $375.00 and gave the stock a “buy” rating in a report on Monday, June 3rd. Finally, Stephens reiterated an “equal weight” rating and set a $350.00 price target on shares of Trane Technologies in a report on Monday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Trane Technologies currently has an average rating of “Hold” and a consensus price target of $323.29.

About Trane Technologies

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.