SeaCrest Wealth Management LLC Cuts Stake in Trane Technologies plc (NYSE:TT)

SeaCrest Wealth Management LLC trimmed its position in shares of Trane Technologies plc (NYSE:TT) by 29.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 1,402 shares of the company’s stock after selling 580 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Trane Technologies were worth $421,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of TT. BKM Wealth Management LLC purchased a new stake in Trane Technologies during the 4th quarter valued at about $25,000. Motco purchased a new stake in shares of Trane Technologies during the 4th quarter valued at about $27,000. Sachetta LLC purchased a new stake in shares of Trane Technologies during the 4th quarter valued at about $27,000. GoalVest Advisory LLC boosted its holdings in shares of Trane Technologies by 157.1% during the 1st quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock valued at $27,000 after acquiring an additional 55 shares during the last quarter. Finally, Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of Trane Technologies during the 1st quarter valued at about $27,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Price Performance

NYSE TT opened at $324.83 on Wednesday. Trane Technologies plc has a 12 month low of $184.02 and a 12 month high of $345.46. The stock has a market cap of $73.53 billion, a price-to-earnings ratio of 34.70, a PEG ratio of 2.55 and a beta of 1.01. The company’s 50 day moving average is $326.45 and its two-hundred day moving average is $291.61. The company has a current ratio of 1.13, a quick ratio of 0.74 and a debt-to-equity ratio of 0.58.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Tuesday, April 30th. The company reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.30. The firm had revenue of $4.22 billion for the quarter, compared to analysts’ expectations of $3.99 billion. Trane Technologies had a net margin of 11.81% and a return on equity of 32.78%. The company’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.41 earnings per share. As a group, research analysts anticipate that Trane Technologies plc will post 10.48 earnings per share for the current year.

Trane Technologies Announces Dividend

The business 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 dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend is Friday, September 6th. Trane Technologies’s payout ratio is currently 35.90%.

Analyst Upgrades and Downgrades

TT has been the topic of a number of recent analyst reports. TD Cowen raised their price target on shares of Trane Technologies from $325.00 to $360.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Citigroup increased their price objective on shares of Trane Technologies from $355.00 to $366.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Barclays increased their price objective on shares of Trane Technologies from $354.00 to $380.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 4th. JPMorgan Chase & Co. increased their price objective on shares of Trane Technologies from $247.00 to $300.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. Finally, Wells Fargo & Company increased their price objective on shares of Trane Technologies from $281.00 to $295.00 and gave the stock an “underweight” rating in a research note on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Trane Technologies presently has an average rating of “Hold” and an average target price of $309.79.

Insider Activity

In other news, SVP Evan M. Turtz sold 8,988 shares of Trane Technologies stock in a transaction that occurred 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 sale, the senior vice president now owns 20,758 shares in the company, valued at $6,669,545.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, SVP Evan M. Turtz sold 8,988 shares of the firm’s 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 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 legal filing with the SEC, which is available at the SEC website. Also, CFO Christopher J. Kuehn sold 4,000 shares of the firm’s 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 transaction, the chief financial officer now directly owns 61,293 shares of the company’s stock, valued at $19,532,240.31. The disclosure for this sale can be found here. Company insiders own 0.38% of the company’s stock.

Trane Technologies Company 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.