Confluence Wealth Services Inc. Has $840,000 Stock Position in Trane Technologies plc (NYSE:TT)

Confluence Wealth Services Inc. increased its stake in Trane Technologies plc (NYSE:TT) by 13.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,554 shares of the company’s stock after acquiring an additional 306 shares during the quarter. Confluence Wealth Services Inc.’s holdings in Trane Technologies were worth $840,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Graypoint LLC lifted its stake in shares of Trane Technologies by 2.7% in the second quarter. Graypoint LLC now owns 3,986 shares of the company’s stock worth $1,311,000 after acquiring an additional 106 shares during the period. Van ECK Associates Corp lifted its stake in Trane Technologies by 4.2% in the second quarter. Van ECK Associates Corp now owns 44,927 shares of the company’s stock valued at $14,778,000 after buying an additional 1,800 shares during the period. Sage Mountain Advisors LLC lifted its stake in Trane Technologies by 106.9% in the second quarter. Sage Mountain Advisors LLC now owns 1,405 shares of the company’s stock valued at $462,000 after buying an additional 726 shares during the period. Commonwealth Equity Services LLC lifted its stake in Trane Technologies by 20.0% in the second quarter. Commonwealth Equity Services LLC now owns 64,862 shares of the company’s stock valued at $21,335,000 after buying an additional 10,790 shares during the period. Finally, IFG Advisory LLC acquired a new position in Trane Technologies in the second quarter valued at approximately $567,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have issued reports on TT. UBS Group boosted their price target on Trane Technologies from $330.00 to $375.00 and gave the company a “buy” rating in a research note on Monday, June 3rd. Barclays boosted their price target on Trane Technologies from $385.00 to $394.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Royal Bank of Canada boosted their price target on Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a research note on Thursday, August 1st. Robert W. Baird boosted their price objective on Trane Technologies from $360.00 to $365.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Finally, Stephens restated an “equal weight” rating and set a $350.00 price objective on shares of Trane Technologies in a report on Monday, August 5th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $323.29.

Trane Technologies Stock Up 1.9 %

Trane Technologies stock traded up $6.64 during trading on Friday, hitting $361.66. 2,192,458 shares of the company were exchanged, compared to its average volume of 1,020,909. The business’s 50 day moving average is $337.00 and its 200 day moving average is $317.41. Trane Technologies plc has a 52 week low of $184.02 and a 52 week high of $362.43. The company has a market capitalization of $81.62 billion, a P/E ratio of 38.64, a PEG ratio of 2.51 and a beta of 1.01. The company has a current ratio of 1.17, a quick ratio of 0.84 and a debt-to-equity ratio of 0.62.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $3.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.08 by $0.22. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. The business had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.13 billion. During the same quarter in the prior year, the company posted $2.68 earnings per share. Trane Technologies’s revenue was up 12.8% compared to the same quarter last year. Analysts predict that Trane Technologies plc will post 10.82 earnings per share for the current year.

Trane Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be paid a $0.84 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $3.36 dividend on an annualized basis and a yield of 0.93%. Trane Technologies’s dividend payout ratio (DPR) is presently 35.90%.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, CEO David S. Regnery sold 29,450 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was 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 in the company, valued at approximately $42,708,902.50. The sale was disclosed in a filing 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 the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total transaction of $593,213.25. Following the transaction, the executive vice president now owns 83,517 shares of the company’s stock, valued at approximately $27,447,862.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David S. Regnery sold 29,450 shares of the company’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 transaction, the chief executive officer now directly owns 132,946 shares in the company, valued at approximately $42,708,902.50. The disclosure for this sale can be found here. Insiders sold 44,243 shares of company stock worth $14,216,550 in the last quarter. 0.38% of the stock is currently owned by company insiders.

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.