McNamara Financial Services Inc. Takes Position in Trane Technologies plc (NYSE:TT)

McNamara Financial Services Inc. bought a new position in Trane Technologies plc (NYSE:TT) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,520 shares of the company’s stock, valued at approximately $591,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. GoalVest Advisory LLC increased its holdings in Trane Technologies by 157.1% in the first quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock valued at $27,000 after buying an additional 55 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of Trane Technologies during the 1st quarter valued at about $27,000. BOK Financial Private Wealth Inc. acquired a new position in Trane Technologies in the 1st quarter worth about $30,000. Fortitude Family Office LLC boosted its position in Trane Technologies by 63.2% during the second quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock worth $37,000 after purchasing an additional 43 shares in the last quarter. Finally, Triad Wealth Partners LLC acquired a new stake in Trane Technologies in the second quarter valued at approximately $39,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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 value of $593,213.25. Following the sale, the executive vice president now directly owns 83,517 shares in the company, valued at approximately $27,447,862.05. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, 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 transaction of $9,460,812.50. Following the completion of the transaction, the chief executive officer now directly owns 132,946 shares in the company, valued at $42,708,902.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Raymond D. Pittard sold 1,805 shares of the business’s 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 in the company, valued at $27,447,862.05. This trade represents 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 insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Stephens reiterated an “equal weight” rating and set a $350.00 target price on shares of Trane Technologies in a research report on Monday, August 5th. The Goldman Sachs Group raised their price target on shares of Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a research note on Wednesday. Royal Bank of Canada boosted their price objective on Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 1st. Morgan Stanley started coverage on Trane Technologies in a report on Friday, September 6th. They set an “overweight” rating and a $425.00 target price for the company. Finally, Wells Fargo & Company boosted their price target 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 research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Trane Technologies presently has an average rating of “Hold” and an average target price of $367.33.

Trane Technologies Trading Up 1.6 %

Shares of NYSE TT traded up $6.40 during trading on Friday, hitting $399.86. 655,232 shares of the company were exchanged, compared to its average volume of 1,098,834. The company has a fifty day moving average price of $361.78 and a 200-day moving average price of $335.70. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.84 and a current ratio of 1.17. The firm has a market capitalization of $90.24 billion, a PE ratio of 39.55, a P/E/G ratio of 2.75 and a beta of 1.01. Trane Technologies plc has a 12-month low of $184.02 and a 12-month high of $400.29.

Trane Technologies (NYSE:TT) last issued its earnings results on Wednesday, July 31st. The company reported $3.30 EPS for the quarter, topping analysts’ consensus estimates of $3.08 by $0.22. Trane Technologies had a net margin of 12.33% and a return on equity of 33.97%. The company had revenue of $5.31 billion for the quarter, compared to the consensus estimate of $5.13 billion. During the same period in the previous year, the firm earned $2.68 earnings per share. Trane Technologies’s quarterly revenue was up 12.8% compared to the same quarter last year. As a group, equities research analysts expect that Trane Technologies plc will post 10.88 EPS for the current year.

Trane Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be given a $0.84 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.36 annualized dividend and a yield of 0.84%. Trane Technologies’s payout ratio is 33.23%.

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.