Lebenthal Global Advisors LLC Boosts Stake in Trane Technologies plc (NYSE:TT)

Lebenthal Global Advisors LLC grew its stake in Trane Technologies plc (NYSE:TT) by 9.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,168 shares of the company’s stock after buying an additional 273 shares during the quarter. Lebenthal Global Advisors LLC’s holdings in Trane Technologies were worth $1,231,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of TT. Norden Group LLC bought a new position in shares of Trane Technologies in the first quarter worth about $646,000. J.W. Cole Advisors Inc. boosted its holdings in shares of Trane Technologies by 10.6% in the 1st quarter. J.W. Cole Advisors Inc. now owns 1,680 shares of the company’s stock worth $505,000 after purchasing an additional 161 shares during the period. Private Advisor Group LLC boosted its holdings in shares of Trane Technologies by 4.2% in the 1st quarter. Private Advisor Group LLC now owns 8,341 shares of the company’s stock worth $2,504,000 after purchasing an additional 334 shares during the period. Diversify Advisory Services LLC purchased a new position in shares of Trane Technologies in the 1st quarter worth approximately $215,000. Finally, Mission Wealth Management LP boosted its holdings in shares of Trane Technologies by 14.4% in the 1st quarter. Mission Wealth Management LP now owns 2,125 shares of the company’s stock worth $638,000 after purchasing an additional 268 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on TT shares. Morgan Stanley started coverage on Trane Technologies in a research note on Friday, September 6th. They set an “overweight” rating and a $425.00 price target for the company. Mizuho lifted their target price on Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Hsbc Global Res lowered Trane Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday. Stephens reissued an “equal weight” rating and issued a $350.00 price target on shares of Trane Technologies in a research report on Monday, August 5th. Finally, The Goldman Sachs Group boosted their target price on Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, Trane Technologies has a consensus rating of “Hold” and an average target price of $380.15.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, EVP Raymond D. Pittard sold 1,805 shares of Trane Technologies 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 owns 83,517 shares of the company’s stock, valued at approximately $27,447,862.05. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Raymond D. Pittard sold 1,805 shares of Trane Technologies stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 83,517 shares in the company, valued at approximately $27,447,862.05. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David S. Regnery sold 29,450 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now owns 132,946 shares of the company’s stock, valued at $42,708,902.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.38% of the stock is owned by corporate insiders.

Trane Technologies Trading Up 1.2 %

Shares of TT traded up $4.51 during midday trading on Friday, hitting $374.67. 184,661 shares of the stock were exchanged, compared to its average volume of 1,100,145. The firm has a market cap of $84.55 billion, a P/E ratio of 34.36, a P/E/G ratio of 2.59 and a beta of 1.01. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.84 and a current ratio of 1.22. Trane Technologies plc has a 52-week low of $211.31 and a 52-week high of $406.96. The stock has a fifty day simple moving average of $377.36 and a 200 day simple moving average of $344.79.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share for the quarter, beating analysts’ consensus estimates of $3.23 by $0.14. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The company had revenue of $5.44 billion for the quarter, compared to analysts’ expectations of $5.32 billion. During the same period last year, the firm earned $2.79 earnings per share. Trane Technologies’s quarterly revenue was up 10.0% on a year-over-year basis. On average, research analysts anticipate that Trane Technologies plc will post 10.89 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend is Friday, December 6th. Trane Technologies’s dividend payout ratio is presently 31.17%.

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.