B. Riley Wealth Advisors Inc. Sells 335 Shares of Trane Technologies plc (NYSE:TT)

B. Riley Wealth Advisors Inc. lessened its stake in Trane Technologies plc (NYSE:TT) by 9.6% in the fourth quarter, Holdings Channel reports. The firm owned 3,166 shares of the company’s stock after selling 335 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Trane Technologies were worth $772,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Aigen Investment Management LP acquired a new stake in shares of Trane Technologies during the 3rd quarter worth approximately $218,000. LPL Financial LLC boosted its holdings in shares of Trane Technologies by 10.1% in the 3rd quarter. LPL Financial LLC now owns 116,810 shares of the company’s stock valued at $23,702,000 after purchasing an additional 10,686 shares in the last quarter. Northern Trust Corp increased its stake in shares of Trane Technologies by 4.3% in the 3rd quarter. Northern Trust Corp now owns 2,522,449 shares of the company’s stock valued at $511,830,000 after purchasing an additional 104,653 shares during the last quarter. Cary Street Partners Investment Advisory LLC raised its holdings in shares of Trane Technologies by 14.0% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 11,977 shares of the company’s stock worth $2,430,000 after buying an additional 1,475 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. lifted its position in shares of Trane Technologies by 4.8% during the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,618 shares of the company’s stock worth $531,000 after buying an additional 120 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Performance

NYSE TT opened at $334.12 on Friday. The company has a market capitalization of $75.63 billion, a price-to-earnings ratio of 35.70, a PEG ratio of 2.75 and a beta of 1.01. The company has a quick ratio of 0.74, a current ratio of 1.13 and a debt-to-equity ratio of 0.58. Trane Technologies plc has a twelve month low of $182.96 and a twelve month high of $345.46. The stock has a fifty day simple moving average of $321.15 and a 200 day simple moving average of $286.22.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.30. Trane Technologies had a return on equity of 32.78% and a net margin of 11.81%. The company had revenue of $4.22 billion during the quarter, compared to analysts’ expectations of $3.99 billion. During the same quarter in the prior year, the firm posted $1.41 earnings per share. The business’s quarterly revenue was up 15.0% on a year-over-year basis. Sell-side analysts expect that Trane Technologies plc will post 10.46 EPS for the current year.

Trane Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be issued a dividend of $0.84 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $3.36 annualized dividend and a yield of 1.01%. Trane Technologies’s payout ratio is 35.90%.

Insider Transactions at Trane Technologies

In other news, CFO Christopher J. Kuehn sold 4,000 shares of the stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $318.67, for a total transaction of $1,274,680.00. Following the completion of the sale, the chief financial officer now directly owns 61,293 shares in the company, valued at $19,532,240.31. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, CFO Christopher J. Kuehn sold 4,000 shares of the company’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $318.67, for a total transaction of $1,274,680.00. Following the sale, the chief financial officer now owns 61,293 shares in the company, valued at approximately $19,532,240.31. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Evan M. Turtz sold 8,988 shares of the firm’s stock in a transaction that occurred on 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 sale, the senior vice president now directly owns 20,758 shares of the company’s stock, valued at approximately $6,669,545.40. The disclosure for this sale can be found here. Corporate insiders own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

TT has been the topic of a number of recent analyst reports. TD Cowen lifted their target price on Trane Technologies from $325.00 to $360.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. JPMorgan Chase & Co. lifted their price target on shares of Trane Technologies from $247.00 to $300.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. The Goldman Sachs Group increased their price objective on shares of Trane Technologies from $287.00 to $326.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Mizuho boosted their target price on shares of Trane Technologies from $280.00 to $325.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Finally, Wells Fargo & Company increased their price target on Trane Technologies from $281.00 to $295.00 and gave the company an “underweight” rating in a research note on Thursday, May 2nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $309.79.

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.