First Pacific Financial Has $1.04 Million Position in Trane Technologies plc (NYSE:TT)

15 Oct 2024, 22:32 by Tristan Rich · The Markets Daily

First Pacific Financial raised its position in Trane Technologies plc (NYSE:TT – Free Report) by 1.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,674 shares of the company’s stock after acquiring an additional 28 shares during the quarter. First Pacific Financial’s holdings in Trane Technologies were worth $1,039,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Lockerman Financial Group Inc. increased its holdings in Trane Technologies by 9.6% in the 3rd quarter. Lockerman Financial Group Inc. now owns 1,143 shares of the company’s stock valued at $444,000 after buying an additional 100 shares during the period. Swedbank AB increased its holdings in Trane Technologies by 2.8% in the 3rd quarter. Swedbank AB now owns 743,794 shares of the company’s stock valued at $289,135,000 after buying an additional 20,400 shares during the period. Creative Planning increased its holdings in Trane Technologies by 5.8% in the 3rd quarter. Creative Planning now owns 62,756 shares of the company’s stock valued at $24,395,000 after buying an additional 3,446 shares during the period. Muirfield Wealth Advisors LLC increased its holdings in Trane Technologies by 13.0% in the 3rd quarter. Muirfield Wealth Advisors LLC now owns 1,061 shares of the company’s stock valued at $413,000 after buying an additional 122 shares during the period. Finally, ORG Wealth Partners LLC bought a new stake in shares of Trane Technologies during the 3rd quarter valued at approximately $130,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insiders Place Their Bets

In other Trane Technologies news, EVP Raymond D. Pittard sold 1,805 shares of the company’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 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP Raymond D. Pittard sold 1,805 shares of the 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 completion of the sale, the executive vice president now owns 83,517 shares in the company, valued at $27,447,862.05. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 owns 132,946 shares of the company’s stock, valued at approximately $42,708,902.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.38% of the company’s stock.

Trane Technologies Trading Down 1.8 %

Shares of NYSE:TT traded down $7.47 during trading on Tuesday, reaching $397.50. The stock had a trading volume of 1,155,756 shares, compared to its average volume of 1,097,193. The firm’s fifty day moving average is $363.60 and its 200 day moving average is $336.95. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.84 and a current ratio of 1.17. Trane Technologies plc has a 52 week low of $184.02 and a 52 week high of $406.96. The stock has a market cap of $89.97 billion, a price-to-earnings ratio of 42.83, a P/E/G ratio of 2.75 and a beta of 1.01.

Trane Technologies (NYSE:TT – Get Free Report) last posted its quarterly earnings data 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 for the quarter, compared to analyst estimates of $5.13 billion. Trane Technologies had a net margin of 12.33% and a return on equity of 33.97%. The company’s quarterly revenue was up 12.8% on a year-over-year basis. During the same period in the prior year, the firm posted $2.68 EPS. As a group, equities analysts forecast that Trane Technologies plc will post 10.88 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently disclosed 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 is Friday, December 6th. This represents a $3.36 annualized dividend and a yield of 0.85%. Trane Technologies’s payout ratio is 35.90%.

Analyst Ratings Changes

TT has been the topic of several research reports. Barclays lifted their price target on shares of Trane Technologies from $394.00 to $425.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Morgan Stanley initiated coverage on shares of Trane Technologies in a report on Friday, September 6th. They set an “overweight” rating and a $425.00 price target on the stock. Robert W. Baird lifted their price target on shares of Trane Technologies from $360.00 to $365.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Stephens reaffirmed an “equal weight” rating and set a $350.00 price target on shares of Trane Technologies in a report on Monday, August 5th. Finally, The Goldman Sachs Group lifted their price target on shares of Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Trane Technologies currently has a consensus rating of “Hold” and an average price target of $367.33.

View Our Latest Stock Report on TT

Trane Technologies Company Profile

(Free Report)

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.