Raymond James Trust N.A. Decreases Holdings in Trane Technologies plc (NYSE:TT)

Raymond James Trust N.A. reduced its position in Trane Technologies plc (NYSE:TT) by 2.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,195 shares of the company’s stock after selling 422 shares during the quarter. Raymond James Trust N.A.’s holdings in Trane Technologies were worth $6,643,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Empowered Funds LLC raised its stake in Trane Technologies by 138.0% in the first quarter. Empowered Funds LLC now owns 6,667 shares of the company’s stock valued at $2,001,000 after buying an additional 3,866 shares during the last quarter. Nordea Investment Management AB raised its position in shares of Trane Technologies by 3.0% in the 1st 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 last quarter. Sei Investments Co. boosted its stake in Trane Technologies by 379.2% in the 1st quarter. Sei Investments Co. now owns 306,165 shares of the company’s stock worth $91,909,000 after purchasing an additional 242,271 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in Trane Technologies during the 4th quarter worth approximately $3,086,000. Finally, Capital World Investors increased its stake in Trane Technologies by 0.6% during the 4th quarter. Capital World Investors now owns 2,176,595 shares of the company’s stock valued at $530,870,000 after purchasing an additional 11,930 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Price Performance

Shares of Trane Technologies stock traded up $2.20 during trading hours on Friday, reaching $352.91. The stock had a trading volume of 871,002 shares, compared to its average volume of 1,121,324. The stock’s 50 day moving average is $335.48 and its 200 day moving average is $314.81. The company has a current ratio of 1.17, a quick ratio of 0.74 and a debt-to-equity ratio of 0.62. Trane Technologies plc has a twelve month low of $184.02 and a twelve month high of $355.02. The firm has a market capitalization of $79.88 billion, a PE ratio of 37.70, a PEG ratio of 2.50 and a beta of 1.01.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Wednesday, July 31st. The company reported $3.30 earnings per share for the quarter, topping analysts’ consensus estimates of $3.08 by $0.22. The company had revenue of $5.31 billion during the quarter, compared to analysts’ expectations 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 quarter in the prior year, the firm posted $2.68 EPS. Equities analysts expect that Trane Technologies plc will post 10.83 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend is Friday, September 6th. Trane Technologies’s payout ratio is presently 35.90%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on TT. JPMorgan Chase & Co. lifted 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. Mizuho boosted their price target on Trane Technologies from $280.00 to $325.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Stephens restated an “equal weight” rating and issued a $350.00 price objective on shares of Trane Technologies in a research note on Monday, August 5th. The Goldman Sachs Group upped their target price on Trane Technologies from $287.00 to $326.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Finally, Wells Fargo & Company increased their price target on shares of Trane Technologies from $310.00 to $315.00 and gave the stock an “underweight” rating in a report on Thursday, August 1st. One research 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 data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $323.29.

Insiders Place Their Bets

In related news, SVP Evan M. Turtz sold 8,988 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 20,758 shares of the company’s stock, valued at approximately $6,669,545.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Raymond D. Pittard sold 1,805 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total transaction of $593,213.25. Following the transaction, the executive vice president now directly owns 83,517 shares in the company, valued at $27,447,862.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Evan M. Turtz sold 8,988 shares of the company’s stock in a transaction dated 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 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. Over the last ninety days, insiders 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.