Bellecapital International Ltd. Sells 1,729 Shares of Trane Technologies plc (NYSE:TT)

by · The Cerbat Gem

Bellecapital International Ltd. decreased its position in shares of Trane Technologies plc (NYSE:TT – Free Report) by 51.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,626 shares of the company’s stock after selling 1,729 shares during the quarter. Bellecapital International Ltd.’s holdings in Trane Technologies were worth $632,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TT. Trust Point Inc. raised its position in shares of Trane Technologies by 3.1% in the third quarter. Trust Point Inc. now owns 897 shares of the company’s stock valued at $349,000 after purchasing an additional 27 shares during the period. First Pacific Financial raised its stake in shares of Trane Technologies by 1.1% during the 3rd quarter. First Pacific Financial now owns 2,674 shares of the company’s stock valued at $1,039,000 after purchasing an additional 28 shares during the period. PFG Private Wealth Management LLC grew its holdings in Trane Technologies by 4.7% during the 2nd quarter. PFG Private Wealth Management LLC now owns 706 shares of the company’s stock valued at $232,000 after buying an additional 32 shares in the last quarter. Bell Investment Advisors Inc increased its position in shares of Trane Technologies by 26.5% during the second quarter. Bell Investment Advisors Inc now owns 167 shares of the company’s stock valued at $55,000 after buying an additional 35 shares during the period. Finally, Procyon Advisors LLC lifted its holdings in shares of Trane Technologies by 4.0% in the third quarter. Procyon Advisors LLC now owns 927 shares of the company’s stock worth $360,000 after buying an additional 36 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO David S. Regnery sold 29,450 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $321.25, for a total transaction of $9,460,812.50. Following the completion of the sale, the chief executive officer now owns 132,946 shares of the company’s stock, valued at approximately $42,708,902.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Trane Technologies news, CEO David S. Regnery sold 29,450 shares of the business’s stock in a transaction dated 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Raymond D. Pittard sold 1,805 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total transaction 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. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on TT shares. Robert W. Baird boosted their price objective on shares of Trane Technologies from $360.00 to $365.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Mizuho upped their price target on shares of Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a report on Thursday. Stephens reissued an “equal weight” rating and set 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 $364.00 to $407.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Finally, Wells Fargo & Company boosted their price objective on Trane Technologies from $320.00 to $360.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $373.58.

Get Our Latest Analysis on TT

Trane Technologies Trading Down 0.5 %

Shares of TT traded down $2.04 during mid-day trading on Monday, reaching $400.50. The company’s stock had a trading volume of 164,303 shares, compared to its average volume of 1,093,122. Trane Technologies plc has a 52 week low of $184.02 and a 52 week high of $406.96. The stock has a market cap of $90.65 billion, a PE ratio of 43.01, a P/E/G ratio of 2.75 and a beta of 1.01. The company’s fifty day moving average price is $369.37 and its two-hundred day moving average price is $339.77. 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 – Get Free Report) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $3.30 earnings per share for the quarter, topping 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 business had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.13 billion. During the same period in the previous year, the firm posted $2.68 earnings per share. The firm’s revenue for the quarter was up 12.8% on a year-over-year basis. On average, analysts predict that Trane Technologies plc will post 10.88 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be given a dividend of $0.84 per share. The ex-dividend date is Friday, December 6th. This represents a $3.36 annualized dividend and a yield of 0.84%. Trane Technologies’s payout ratio is 35.90%.

Trane Technologies Profile

(Free Report)

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.

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