Valley National Advisers Inc. Sells 435 Shares of Trane Technologies plc (NYSE:TT)

Valley National Advisers Inc. decreased its stake in shares of Trane Technologies plc (NYSE:TT) by 18.7% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 1,889 shares of the company’s stock after selling 435 shares during the period. Valley National Advisers Inc.’s holdings in Trane Technologies were worth $734,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Capital Advisors Ltd. LLC boosted its holdings in Trane Technologies by 33.7% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 242 shares of the company’s stock valued at $94,000 after purchasing an additional 61 shares during the period. Kooman & Associates bought a new stake in Trane Technologies during the third quarter valued at $222,000. Frank Rimerman Advisors LLC grew its position in Trane Technologies by 19.7% during the third quarter. Frank Rimerman Advisors LLC now owns 5,602 shares of the company’s stock worth $2,178,000 after buying an additional 923 shares in the last quarter. DekaBank Deutsche Girozentrale increased its stake in Trane Technologies by 11.0% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 419,951 shares of the company’s stock worth $160,449,000 after acquiring an additional 41,783 shares during the last quarter. Finally, GHP Investment Advisors Inc. raised its holdings in shares of Trane Technologies by 21.3% in the 3rd quarter. GHP Investment Advisors Inc. now owns 444 shares of the company’s stock valued at $173,000 after acquiring an additional 78 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Performance

TT opened at $392.57 on Monday. Trane Technologies plc has a one year low of $184.24 and a one year high of $406.96. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.17 and a quick ratio of 0.84. The business has a 50 day simple moving average of $374.71 and a two-hundred day simple moving average of $343.06. The firm has a market capitalization of $88.59 billion, a price-to-earnings ratio of 38.83, a PEG ratio of 2.70 and a beta of 1.01.

Trane Technologies (NYSE:TT) last announced its earnings results on Wednesday, July 31st. The company reported $3.30 EPS for the quarter, beating analysts’ consensus estimates of $3.08 by $0.22. The company had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.13 billion. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. The firm’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.68 earnings per share. Analysts predict that Trane Technologies plc will post 10.89 EPS for the current year.

Trane Technologies Dividend Announcement

The business also recently announced 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. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date is Friday, December 6th. Trane Technologies’s payout ratio is 33.23%.

Insider Activity at Trane Technologies

In related news, CEO David S. Regnery sold 29,450 shares of the company’s stock in a transaction on 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 sale, the chief executive officer now directly owns 132,946 shares of the company’s stock, valued at $42,708,902.50. This represents 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 this link. In other Trane Technologies news, CEO David S. Regnery sold 29,450 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief executive officer now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Raymond D. Pittard sold 1,805 shares of Trane Technologies stock in a transaction dated 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 transaction, the executive vice president now directly owns 83,517 shares of the company’s stock, 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. 0.38% of the stock is owned by corporate insiders.

Analyst Ratings Changes

TT has been the topic of several research analyst reports. Robert W. Baird upped their price objective on shares of Trane Technologies from $360.00 to $365.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Stephens restated an “equal weight” rating and set a $350.00 price objective on shares of Trane Technologies in a research report on Monday, August 5th. The Goldman Sachs Group upped their target price on shares of Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Barclays upped their price objective on Trane Technologies from $394.00 to $425.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Finally, Royal Bank of Canada boosted their price objective on shares of Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $373.58.

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.