Sigma Planning Corp Increases Holdings in Trane Technologies plc (NYSE:TT)

Sigma Planning Corp increased its position in Trane Technologies plc (NYSE:TT) by 47.9% in the 1st quarter, Holdings Channel reports. The firm owned 7,622 shares of the company’s stock after buying an additional 2,467 shares during the period. Sigma Planning Corp’s holdings in Trane Technologies were worth $2,568,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in Trane Technologies by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 19,235,570 shares of the company’s stock valued at $7,104,658,000 after acquiring an additional 152,353 shares during the last quarter. Geode Capital Management LLC increased its position in Trane Technologies by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 4,775,263 shares of the company’s stock worth $1,760,549,000 after purchasing an additional 136,349 shares during the period. Ameriprise Financial Inc. increased its position in Trane Technologies by 4.1% during the 4th quarter. Ameriprise Financial Inc. now owns 3,343,390 shares of the company’s stock worth $1,234,908,000 after purchasing an additional 130,867 shares during the period. Norges Bank acquired a new position in Trane Technologies during the 4th quarter worth approximately $1,117,816,000. Finally, Northern Trust Corp increased its position in Trane Technologies by 20.1% during the 4th quarter. Northern Trust Corp now owns 2,567,527 shares of the company’s stock worth $948,316,000 after purchasing an additional 429,953 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Donald E. Simmons sold 3,571 shares of Trane Technologies stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $380.00, for a total value of $1,356,980.00. Following the completion of the transaction, the insider owned 3,593 shares in the company, valued at approximately $1,365,340. The trade was a 49.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.38% of the company’s stock.

Trane Technologies Trading Up 0.3%

Shares of NYSE:TT opened at $438.77 on Tuesday. The company has a market cap of $97.86 billion, a P/E ratio of 36.50, a P/E/G ratio of 2.85 and a beta of 1.15. The stock’s 50-day moving average is $426.71 and its 200-day moving average is $381.65. Trane Technologies plc has a 52-week low of $298.15 and a 52-week high of $440.86. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.74 and a current ratio of 1.09.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $0.25. The company had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.46 billion. Trane Technologies had a return on equity of 36.10% and a net margin of 13.47%. The firm’s revenue was up 11.2% compared to the same quarter last year. During the same period last year, the business posted $1.94 earnings per share. Equities research analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date is Friday, September 5th. Trane Technologies’s payout ratio is 31.28%.

Wall Street Analyst Weigh In

TT has been the topic of a number of research reports. Hsbc Global Res upgraded Trane Technologies from a “hold” rating to a “strong-buy” rating in a report on Friday, April 25th. Citigroup increased their target price on Trane Technologies from $445.00 to $502.00 and gave the company a “buy” rating in a report on Monday. Wells Fargo & Company increased their target price on Trane Technologies from $370.00 to $410.00 and gave the company an “underweight” rating in a report on Tuesday, July 1st. JPMorgan Chase & Co. increased their price target on Trane Technologies from $334.00 to $400.00 and gave the stock a “neutral” rating in a research note on Friday, May 16th. Finally, Stephens raised Trane Technologies from an “equal weight” rating to an “overweight” rating and set a $475.00 price target on the stock in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $437.80.

Trane Technologies Company 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.