Lido Advisors LLC Has $5.63 Million Stock Holdings in Trane Technologies plc $TT

Lido Advisors LLC raised its holdings in Trane Technologies plc (NYSE:TT) by 55.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,767 shares of the company’s stock after purchasing an additional 4,902 shares during the quarter. Lido Advisors LLC’s holdings in Trane Technologies were worth $5,627,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of TT. Aptus Capital Advisors LLC increased its holdings in shares of Trane Technologies by 169.8% during the third quarter. Aptus Capital Advisors LLC now owns 14,738 shares of the company’s stock worth $6,219,000 after buying an additional 9,276 shares in the last quarter. Nordea Investment Management AB increased its holdings in shares of Trane Technologies by 2.9% during the fourth quarter. Nordea Investment Management AB now owns 2,586,506 shares of the company’s stock worth $1,010,419,000 after buying an additional 72,998 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in Trane Technologies by 64.0% in the fourth quarter. Farther Finance Advisors LLC now owns 7,478 shares of the company’s stock valued at $2,911,000 after purchasing an additional 2,917 shares during the period. Varma Mutual Pension Insurance Co increased its holdings in Trane Technologies by 9.0% in the third quarter. Varma Mutual Pension Insurance Co now owns 43,811 shares of the company’s stock valued at $18,486,000 after purchasing an additional 3,600 shares during the period. Finally, Dara Capital US Inc. acquired a new stake in Trane Technologies in the fourth quarter valued at $966,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

TT has been the subject of a number of recent research reports. BNP Paribas Exane initiated coverage on Trane Technologies in a report on Tuesday, April 14th. They issued an “outperform” rating and a $550.00 price objective for the company. JPMorgan Chase & Co. increased their price objective on Trane Technologies from $460.00 to $476.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. Barclays increased their price objective on Trane Technologies from $507.00 to $585.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Evercore initiated coverage on Trane Technologies in a report on Monday, April 13th. They issued an “outperform” rating and a $535.00 price objective for the company. Finally, KeyCorp increased their price objective on Trane Technologies from $525.00 to $555.00 and gave the company an “overweight” rating in a report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Trane Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $506.56.

Trane Technologies Stock Performance

Shares of TT opened at $456.51 on Friday. The company has a current ratio of 1.10, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $100.91 billion, a P/E ratio of 35.31, a price-to-earnings-growth ratio of 2.10 and a beta of 1.20. The firm’s fifty day simple moving average is $458.85 and its two-hundred day simple moving average is $431.33. Trane Technologies plc has a 12 month low of $348.06 and a 12 month high of $503.47.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Friday, May 1st. The company reported $2.63 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.10. The business had revenue of $4.97 billion for the quarter, compared to analysts’ expectations of $4.81 billion. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.45 earnings per share. As a group, analysts predict that Trane Technologies plc will post 14.88 EPS for the current year.

Trane Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 4th will be given a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, September 4th. Trane Technologies’s dividend payout ratio is 32.48%.

Insider Transactions at Trane Technologies

In other news, insider Donald E. Simmons sold 4,593 shares of the stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $500.00, for a total transaction of $2,296,500.00. Following the transaction, the insider owned 3,819 shares of the company’s stock, valued at $1,909,500. This represents a 54.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Christopher J. Kuehn sold 8,619 shares of the stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $450.00, for a total transaction of $3,878,550.00. Following the transaction, the chief financial officer directly owned 60,576 shares in the company, valued at $27,259,200. This trade represents a 12.46% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is owned by corporate insiders.

Trane Technologies Company Profile

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.