First Trust Direct Indexing L.P. Has $3.50 Million Stock Holdings in Trane Technologies plc (NYSE:TT)

First Trust Direct Indexing L.P. grew its holdings in Trane Technologies plc (NYSE:TT) by 8.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,994 shares of the company’s stock after buying an additional 673 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Trane Technologies were worth $3,496,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Diversified Trust Co increased its position in shares of Trane Technologies by 27.4% during the 1st quarter. Diversified Trust Co now owns 2,898 shares of the company’s stock worth $870,000 after purchasing an additional 624 shares in the last quarter. Azzad Asset Management Inc. ADV increased its position in shares of Trane Technologies by 0.9% during the 1st quarter. Azzad Asset Management Inc. ADV now owns 6,294 shares of the company’s stock worth $1,889,000 after purchasing an additional 55 shares in the last quarter. Monument Capital Management acquired a new stake in shares of Trane Technologies during the 1st quarter worth about $238,000. Norden Group LLC acquired a new stake in shares of Trane Technologies during the 1st quarter worth about $646,000. Finally, Massachusetts Wealth Management increased its position in shares of Trane Technologies by 4.6% during the 1st quarter. Massachusetts Wealth Management now owns 6,270 shares of the company’s stock worth $1,882,000 after purchasing an additional 275 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analysts Set New Price Targets

TT has been the topic of a number of research analyst reports. Mizuho increased their price objective on shares of Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Wells Fargo & Company increased their price objective 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. Robert W. Baird raised their target price 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. Stephens reaffirmed an “equal weight” rating and issued a $350.00 target price on shares of Trane Technologies in a research note on Monday, August 5th. Finally, The Goldman Sachs Group raised their target price on shares of Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $373.58.

Insiders Place Their Bets

In other news, CEO David S. Regnery sold 29,450 shares of Trane Technologies stock in a transaction that occurred 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 sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO David S. Regnery sold 29,450 shares of the firm’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 completion of the transaction, the chief executive officer now directly owns 132,946 shares of the company’s stock, valued at approximately $42,708,902.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a 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 firm’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total transaction of $593,213.25. Following the completion of the transaction, the executive vice president now directly owns 83,517 shares of the company’s stock, valued at $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. Corporate insiders own 0.38% of the company’s stock.

Trane Technologies Trading Down 4.9 %

Shares of NYSE:TT traded down $19.03 during mid-day trading on Wednesday, reaching $371.56. The stock had a trading volume of 957,051 shares, compared to its average volume of 1,093,720. The firm has a market cap of $84.10 billion, a PE ratio of 41.78, a price-to-earnings-growth ratio of 2.70 and a beta of 1.01. The firm has a 50 day simple moving average of $376.49 and a two-hundred day simple moving average of $344.40. 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 twelve month low of $186.24 and a twelve month high of $406.96.

Trane Technologies (NYSE:TT) last announced its earnings results on Wednesday, July 31st. The company reported $3.30 EPS for the quarter, topping the consensus estimate of $3.08 by $0.22. The firm had revenue of $5.31 billion for the quarter, compared to the consensus estimate of $5.13 billion. Trane Technologies had a net margin of 12.33% and a return on equity of 33.97%. The business’s quarterly revenue was up 12.8% on a year-over-year basis. During the same period last year, the company posted $2.68 EPS. On average, research analysts predict that Trane Technologies plc will post 10.89 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The business 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 dividend of $0.84 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.36 annualized dividend and a yield of 0.90%. Trane Technologies’s dividend payout ratio (DPR) is currently 35.90%.

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.