LRI Investments LLC Has $166,000 Holdings in Trane Technologies plc (NYSE:TT)

LRI Investments LLC lifted its stake in Trane Technologies plc (NYSE:TT) by 714.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 505 shares of the company’s stock after purchasing an additional 443 shares during the period. LRI Investments LLC’s holdings in Trane Technologies were worth $166,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of TT. Vanguard Group Inc. lifted its position in Trane Technologies by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 18,887,514 shares of the company’s stock valued at $5,670,032,000 after purchasing an additional 174,251 shares during the period. JPMorgan Chase & Co. lifted its holdings in Trane Technologies by 0.5% in the first quarter. JPMorgan Chase & Co. now owns 17,393,733 shares of the company’s stock valued at $5,221,599,000 after buying an additional 80,536 shares during the period. Norges Bank bought a new position in Trane Technologies in the fourth quarter valued at approximately $655,804,000. Capital World Investors grew its holdings in Trane Technologies by 0.6% during the 4th quarter. Capital World Investors now owns 2,176,595 shares of the company’s stock worth $530,870,000 after acquiring an additional 11,930 shares during the period. Finally, Franklin Resources Inc. raised its position in shares of Trane Technologies by 17.3% during the 4th quarter. Franklin Resources Inc. now owns 1,655,459 shares of the company’s stock valued at $403,766,000 after acquiring an additional 243,996 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

TT has been the topic of several recent research reports. Royal Bank of Canada raised their price target on Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 1st. Mizuho raised their target price on Trane Technologies from $280.00 to $325.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Citigroup upped their price target on Trane Technologies from $355.00 to $366.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. UBS Group lifted their price objective 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. Finally, Wells Fargo & Company boosted their price objective on shares of Trane Technologies from $310.00 to $315.00 and gave the company an “underweight” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $323.29.

Insider Transactions at Trane Technologies

In other news, EVP Raymond D. Pittard sold 1,805 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total transaction of $593,213.25. Following the completion of the transaction, the executive vice president now directly owns 83,517 shares in the company, valued at approximately $27,447,862.05. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, EVP Raymond D. Pittard sold 1,805 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total transaction of $593,213.25. Following the sale, the executive vice president now owns 83,517 shares in the company, valued at approximately $27,447,862.05. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO David S. Regnery sold 29,450 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $321.25, for a total value of $9,460,812.50. Following the completion of the sale, the chief executive officer now directly 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. Insiders have sold a total of 44,243 shares of company stock valued at $14,216,550 over the last 90 days. 0.38% of the stock is owned by corporate insiders.

Trane Technologies Trading Up 0.6 %

Shares of NYSE:TT opened at $352.91 on Friday. The firm has a market cap of $79.88 billion, a price-to-earnings ratio of 37.70, a PEG ratio of 2.50 and a beta of 1.01. Trane Technologies plc has a 12 month low of $184.02 and a 12 month high of $355.02. The company’s fifty day simple moving average is $335.48 and its 200 day simple moving average is $314.52. The company has a quick ratio of 0.74, a current ratio of 1.17 and a debt-to-equity ratio of 0.62.

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

Trane Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend is Friday, September 6th. Trane Technologies’s dividend payout ratio is presently 35.90%.

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.