SeaCrest Wealth Management LLC Sells 56 Shares of Trane Technologies plc (NYSE:TT)

SeaCrest Wealth Management LLC reduced its position in shares of Trane Technologies plc (NYSE:TT) by 4.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 1,346 shares of the company’s stock after selling 56 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Trane Technologies were worth $443,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of TT. Motco bought a new position in Trane Technologies during the fourth quarter valued at $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 lifted its holdings in shares of Trane Technologies by 157.1% in 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. Dixon Mitchell Investment Counsel Inc. bought a new position in shares of Trane Technologies in the 1st quarter valued at about $27,000. Finally, BOK Financial Private Wealth Inc. purchased a new position in Trane Technologies in the first quarter worth about $30,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Trading Up 1.4 %

Trane Technologies stock traded up $4.97 during trading hours on Wednesday, hitting $352.64. The company had a trading volume of 115,042 shares, compared to its average volume of 1,120,431. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.74 and a current ratio of 1.17. The firm has a market cap of $79.82 billion, a P/E ratio of 37.14, a P/E/G ratio of 2.50 and a beta of 1.01. The company has a 50-day moving average price of $334.27 and a two-hundred day moving average price of $313.12. Trane Technologies plc has a 1 year low of $184.02 and a 1 year high of $353.44.

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

Trane Technologies Dividend Announcement

The company also recently declared 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 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 payout ratio is 35.90%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on TT shares. Barclays raised their price objective on Trane Technologies from $385.00 to $394.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Mizuho raised their price target on Trane Technologies from $280.00 to $325.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Citigroup lifted 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. Wells Fargo & Company increased their target price on shares of Trane Technologies from $310.00 to $315.00 and gave the company an “underweight” rating in a research note on Thursday, August 1st. Finally, Royal Bank of Canada lifted their price target on shares of Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $323.29.

Insider Activity

In other news, CFO Christopher J. Kuehn sold 4,000 shares of the business’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $318.67, for a total value of $1,274,680.00. Following the completion of the sale, the chief financial officer now owns 61,293 shares in the company, valued at approximately $19,532,240.31. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Trane Technologies news, SVP Evan M. Turtz sold 8,988 shares of Trane Technologies stock in a transaction dated 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 transaction, the senior vice president now owns 20,758 shares in the company, valued at $6,669,545.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Christopher J. Kuehn sold 4,000 shares of the stock in a transaction dated 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 sale, 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. Over the last 90 days, insiders have sold 44,243 shares of company stock worth $14,216,550. 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.