Baker Tilly Wealth Management LLC Acquires New Position in Trane Technologies plc (NYSE:TT)

Baker Tilly Wealth Management LLC bought a new position in shares of Trane Technologies plc (NYSE:TT) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 681 shares of the company’s stock, valued at approximately $265,000.

Other large investors have also recently modified their holdings of the company. Dixon Mitchell Investment Counsel Inc. bought a new position in Trane Technologies in the 1st quarter worth approximately $27,000. DT Investment Partners LLC purchased a new position in shares of Trane Technologies in the third quarter valued at $36,000. BOK Financial Private Wealth Inc. purchased a new stake in Trane Technologies during the 1st quarter worth about $30,000. Fortitude Family Office LLC boosted its stake in Trane Technologies by 63.2% in the 2nd quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock worth $37,000 after purchasing an additional 43 shares during the period. Finally, Triad Wealth Partners LLC bought a new stake in shares of Trane Technologies during the second quarter valued at about $39,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Performance

Shares of NYSE TT opened at $392.76 on Tuesday. The stock has a market cap of $88.90 billion, a price-to-earnings ratio of 41.96, a P/E/G ratio of 2.70 and a beta of 1.01. The stock’s 50-day moving average is $375.63 and its 200 day moving average is $343.74. 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 plc has a 1-year low of $185.75 and a 1-year high of $406.96.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data 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. Trane Technologies had a net margin of 12.33% and a return on equity of 33.97%. The firm had revenue of $5.31 billion during the quarter, compared to analyst estimates of $5.13 billion. During the same period in the previous year, the business posted $2.68 EPS. The business’s quarterly revenue was up 12.8% on a year-over-year basis. On average, sell-side analysts anticipate that Trane Technologies plc will post 10.89 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be paid a dividend of $0.84 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.86%. Trane Technologies’s dividend payout ratio (DPR) is currently 35.90%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on TT shares. Morgan Stanley initiated coverage on shares of Trane Technologies in a research report on Friday, September 6th. They issued an “overweight” rating and a $425.00 price objective for the company. Royal Bank of Canada raised their price target on shares of Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a report on Thursday, August 1st. Wells Fargo & Company upped their price target on shares of Trane Technologies from $320.00 to $360.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. The Goldman Sachs Group lifted their price objective on Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Finally, Stephens reaffirmed an “equal weight” rating and issued a $350.00 price target on shares of Trane Technologies in a report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $373.58.

Insider Transactions at Trane Technologies

In related news, EVP Raymond D. Pittard sold 1,805 shares of the firm’s stock in a transaction that occurred 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 directly owns 83,517 shares in the company, valued at $27,447,862.05. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO David S. Regnery sold 29,450 shares of the stock in a transaction dated Tuesday, August 6th. The shares were 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 directly owns 132,946 shares in the company, 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 is accessible through this hyperlink. Also, 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 transaction, the executive vice president now owns 83,517 shares in the company, valued at approximately $27,447,862.05. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.38% of the company’s stock.

About Trane Technologies

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.