Confluence Wealth Services Inc. Has $675,000 Holdings in Trane Technologies plc (NYSE:TT)

Confluence Wealth Services Inc. lessened its position in Trane Technologies plc (NYSE:TT) by 3.7% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 2,248 shares of the company’s stock after selling 86 shares during the period. Confluence Wealth Services Inc.’s holdings in Trane Technologies were worth $675,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in TT. Avior Wealth Management LLC boosted its position in shares of Trane Technologies by 58.0% during the third quarter. Avior Wealth Management LLC now owns 177 shares of the company’s stock valued at $36,000 after buying an additional 65 shares during the last quarter. Caprock Group LLC boosted its position in shares of Trane Technologies by 15.8% during the third quarter. Caprock Group LLC now owns 1,528 shares of the company’s stock valued at $310,000 after buying an additional 208 shares during the last quarter. Handelsbanken Fonder AB boosted its position in shares of Trane Technologies by 5.8% during the third quarter. Handelsbanken Fonder AB now owns 37,311 shares of the company’s stock valued at $7,571,000 after buying an additional 2,037 shares during the last quarter. Ballentine Partners LLC boosted its position in shares of Trane Technologies by 3.6% during the third quarter. Ballentine Partners LLC now owns 1,802 shares of the company’s stock valued at $366,000 after buying an additional 62 shares during the last quarter. Finally, U.S. Capital Wealth Advisors LLC purchased a new position in shares of Trane Technologies during the third quarter valued at approximately $208,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Buying and Selling at Trane Technologies

In related news, SVP Keith A. Sultana sold 1,637 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $267.74, for a total transaction of $438,290.38. Following the sale, the senior vice president now directly owns 42,374 shares in the company, valued at approximately $11,345,214.76. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, SVP Keith A. Sultana sold 1,637 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $267.74, for a total transaction of $438,290.38. Following the sale, the senior vice president now directly owns 42,374 shares in the company, valued at approximately $11,345,214.76. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Christopher J. Kuehn sold 2,767 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $268.31, for a total value of $742,413.77. Following the sale, the chief financial officer now owns 54,788 shares in the company, valued at $14,700,168.28. The disclosure for this sale can be found here. Insiders have sold a total of 29,874 shares of company stock worth $8,462,825 over the last ninety days. 0.39% of the stock is currently owned by company insiders.

Trane Technologies Stock Performance

Shares of TT traded up $16.50 during mid-day trading on Tuesday, hitting $317.36. The stock had a trading volume of 2,419,606 shares, compared to its average volume of 1,027,150. The firm has a market cap of $72.06 billion, a P/E ratio of 36.10, a PEG ratio of 2.57 and a beta of 1.05. The business has a fifty day moving average price of $293.61 and a 200-day moving average price of $256.33. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.13 and a quick ratio of 0.78. Trane Technologies plc has a 52 week low of $162.04 and a 52 week high of $327.09.

Trane Technologies (NYSE:TT) last issued its earnings results on Thursday, February 1st. The company reported $2.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.13 by $0.04. The firm had revenue of $4.42 billion for the quarter, compared to analyst estimates of $4.43 billion. Trane Technologies had a return on equity of 32.01% and a net margin of 11.45%. The business’s revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.82 earnings per share. On average, equities research analysts expect that Trane Technologies plc will post 10.2 EPS for the current year.

Trane Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be paid a $0.84 dividend. The ex-dividend date is Thursday, June 6th. This represents a $3.36 annualized dividend and a dividend yield of 1.06%. Trane Technologies’s payout ratio is presently 38.23%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Stephens lifted their target price on Trane Technologies from $235.00 to $280.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 6th. Royal Bank of Canada lifted their target price on Trane Technologies from $231.00 to $246.00 and gave the company a “sector perform” rating in a research report on Friday, February 2nd. Barclays lifted their target price on Trane Technologies from $286.00 to $325.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. The Goldman Sachs Group lifted their price target on Trane Technologies from $253.00 to $287.00 and gave the stock a “neutral” rating in a report on Monday, February 5th. Finally, Citigroup lifted their price target on Trane Technologies from $309.00 to $355.00 and gave the stock a “buy” rating in a report on Monday, April 8th. One analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Trane Technologies has a consensus rating of “Hold” and an average price target of $251.83.

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.