Trane Technologies plc (NYSE:TT) Shares Sold by USA Financial Formulas

USA Financial Formulas trimmed its position in shares of Trane Technologies plc (NYSE:TT) by 10.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,065 shares of the company’s stock after selling 465 shares during the period. Trane Technologies makes up about 0.2% of USA Financial Formulas’ holdings, making the stock its 23rd biggest holding. USA Financial Formulas’ holdings in Trane Technologies were worth $1,580,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in TT. Empowered Funds LLC increased its position in shares of Trane Technologies by 138.0% in the first quarter. Empowered Funds LLC now owns 6,667 shares of the company’s stock worth $2,001,000 after acquiring an additional 3,866 shares in the last quarter. Nordea Investment Management AB raised its position in Trane Technologies by 3.0% in the first quarter. Nordea Investment Management AB now owns 453,212 shares of the company’s stock valued at $135,796,000 after purchasing an additional 13,078 shares during the period. Sei Investments Co. boosted its position in shares of Trane Technologies by 379.2% in the first quarter. Sei Investments Co. now owns 306,165 shares of the company’s stock worth $91,909,000 after buying an additional 242,271 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of Trane Technologies in the fourth quarter valued at about $3,086,000. Finally, Albar Capital Ltd purchased a new stake in shares of Trane Technologies during the 2nd quarter valued at about $14,556,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Trading Up 0.8 %

Trane Technologies stock opened at $399.72 on Thursday. Trane Technologies plc has a 1 year low of $184.02 and a 1 year high of $400.23. The firm’s 50-day moving average is $358.95 and its 200-day moving average is $334.60. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.84 and a current ratio of 1.17. The company has a market cap of $90.48 billion, a P/E ratio of 42.71, a PEG ratio of 2.68 and a beta of 1.01.

Trane Technologies (NYSE:TT) last issued its earnings results on Wednesday, July 31st. The company reported $3.30 EPS for the quarter, beating analysts’ consensus estimates of $3.08 by $0.22. The company had revenue of $5.31 billion during 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%. Trane Technologies’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.68 earnings per share. On average, equities analysts expect that Trane Technologies plc will post 10.87 earnings per share for the current year.

Trane Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 0.84%. Trane Technologies’s dividend payout ratio (DPR) is 35.90%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on TT shares. Morgan Stanley started coverage on shares of Trane Technologies in a research report on Friday, September 6th. They issued an “overweight” rating and a $425.00 price objective for the company. The Goldman Sachs Group boosted their price objective on shares of Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a report on Wednesday. Barclays lifted their target price on Trane Technologies from $394.00 to $425.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Robert W. Baird increased their price target on Trane Technologies from $360.00 to $365.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Finally, Stephens restated an “equal weight” rating and set a $350.00 price objective on shares of Trane Technologies in a report on Monday, August 5th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $367.33.

Insider Transactions at Trane Technologies

In other Trane Technologies news, EVP Raymond D. Pittard sold 1,805 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total value 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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Trane Technologies news, CEO David S. Regnery sold 29,450 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $321.25, for a total transaction of $9,460,812.50. Following the transaction, the chief executive officer now owns 132,946 shares of the company’s stock, valued at approximately $42,708,902.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Raymond D. Pittard sold 1,805 shares of the business’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 value of $593,213.25. Following the sale, the executive vice president now directly owns 83,517 shares in the company, valued at approximately $27,447,862.05. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.38% of the company’s stock.

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.