Park Avenue Securities LLC Cuts Stake in Trane Technologies plc (NYSE:TT)

Park Avenue Securities LLC lowered its position in shares of Trane Technologies plc (NYSE:TT) by 3.1% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 16,101 shares of the company’s stock after selling 509 shares during the quarter. Park Avenue Securities LLC’s holdings in Trane Technologies were worth $5,296,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Argus Investors Counsel Inc. acquired a new position in shares of Trane Technologies during the 4th quarter worth $509,000. Ballentine Partners LLC grew its stake in shares of Trane Technologies by 4.7% during the 4th quarter. Ballentine Partners LLC now owns 1,886 shares of the company’s stock worth $460,000 after purchasing an additional 84 shares during the period. Allworth Financial LP grew its stake in shares of Trane Technologies by 3.4% during the 4th quarter. Allworth Financial LP now owns 2,602 shares of the company’s stock worth $635,000 after purchasing an additional 86 shares during the period. Prime Capital Investment Advisors LLC grew its stake in shares of Trane Technologies by 21.8% during the 4th quarter. Prime Capital Investment Advisors LLC now owns 3,705 shares of the company’s stock worth $904,000 after purchasing an additional 663 shares during the period. Finally, Stratos Wealth Partners LTD. grew its stake in shares of Trane Technologies by 16.2% during the 4th quarter. Stratos Wealth Partners LTD. now owns 5,331 shares of the company’s stock worth $1,300,000 after purchasing an additional 745 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Trading Up 0.2 %

NYSE TT traded up $0.78 during mid-day trading on Wednesday, hitting $323.69. The company’s stock had a trading volume of 1,208,858 shares, compared to its average volume of 1,139,528. Trane Technologies plc has a 52-week low of $184.02 and a 52-week high of $351.41. The stock’s fifty day simple moving average is $331.08 and its two-hundred day simple moving average is $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. The firm has a market capitalization of $73.05 billion, a P/E ratio of 34.56, a price-to-earnings-growth ratio of 2.50 and a beta of 1.01.

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

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be given 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 currently 35.90%.

Insider Transactions at Trane Technologies

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

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. UBS Group upped their price target on shares of Trane Technologies from $330.00 to $375.00 and gave the stock a “buy” rating in a research note on Monday, June 3rd. JPMorgan Chase & Co. increased their price objective on shares of Trane Technologies from $247.00 to $300.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. Citigroup increased their price objective on shares of Trane Technologies from $355.00 to $366.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Royal Bank of Canada increased their price objective on shares of Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a research note on Thursday, August 1st. Finally, TD Cowen increased their price objective on shares of Trane Technologies from $325.00 to $360.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $323.29.

Trane Technologies Profile

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.