Lowe Brockenbrough & Co. Inc. Reduces Position in Trane Technologies plc (NYSE:TT)

Lowe Brockenbrough & Co. Inc. lowered its position in Trane Technologies plc (NYSE:TT) by 22.1% in the third quarter, Holdings Channel.com reports. The institutional investor owned 40,465 shares of the company’s stock after selling 11,450 shares during the period. Trane Technologies comprises approximately 1.0% of Lowe Brockenbrough & Co. Inc.’s holdings, making the stock its 24th largest position. Lowe Brockenbrough & Co. Inc.’s holdings in Trane Technologies were worth $15,730,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. DT Investment Partners LLC purchased a new position in shares of Trane Technologies during the third quarter worth about $36,000. Fortitude Family Office LLC lifted its position in Trane Technologies by 63.2% during the 2nd quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock worth $37,000 after acquiring an additional 43 shares during the period. Triad Wealth Partners LLC purchased a new position in shares of Trane Technologies in the 2nd quarter valued at approximately $39,000. Quarry LP acquired a new position in shares of Trane Technologies in the second quarter valued at approximately $39,000. Finally, Valley Wealth Managers Inc. purchased a new stake in shares of Trane Technologies during the second quarter worth approximately $51,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Hsbc Global Res lowered shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday. Robert W. Baird reduced their target price on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a research note on Thursday. HSBC lowered shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price target on the stock. in a research note on Thursday. The Goldman Sachs Group raised their price objective on shares of Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Finally, Wells Fargo & Company boosted their target price on Trane Technologies from $320.00 to $360.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Trane Technologies currently has an average rating of “Hold” and an average price target of $380.15.

Trane Technologies Stock Up 1.6 %

Shares of NYSE TT opened at $376.15 on Friday. The firm’s 50-day moving average is $377.83 and its two-hundred day moving average is $345.36. The company has a market capitalization of $84.89 billion, a PE ratio of 34.89, a price-to-earnings-growth ratio of 2.59 and a beta of 1.01. Trane Technologies plc has a 12-month low of $211.31 and a 12-month high of $406.96. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.84.

Trane Technologies (NYSE:TT) last announced its earnings results on Wednesday, October 30th. The company reported $3.37 EPS 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 firm had revenue of $5.44 billion for the quarter, compared to analysts’ expectations of $5.32 billion. During the same quarter in the prior year, the firm earned $2.79 EPS. Trane Technologies’s quarterly revenue was up 10.0% on a year-over-year basis. Equities analysts anticipate that Trane Technologies plc will post 10.89 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently announced 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. The ex-dividend date is Friday, December 6th. This represents a $3.36 dividend on an annualized basis and a yield of 0.89%. Trane Technologies’s dividend payout ratio (DPR) is 31.17%.

Insiders Place Their Bets

In other news, EVP Raymond D. Pittard sold 1,805 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total value of $593,213.25. Following the completion of the transaction, the executive vice president now owns 83,517 shares of the company’s stock, valued at $27,447,862.05. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Raymond D. Pittard sold 1,805 shares of Trane Technologies stock in a transaction 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 completion of the sale, the executive vice president now owns 83,517 shares of the company’s stock, valued at $27,447,862.05. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David S. Regnery sold 29,450 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 132,946 shares in the company, valued at approximately $42,708,902.50. The trade was 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 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.