McKinley Carter Wealth Services Inc. Acquires New Shares in Trane Technologies plc (NYSE:TT)

McKinley Carter Wealth Services Inc. acquired a new stake in shares of Trane Technologies plc (NYSE:TT) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 550 shares of the company’s stock, valued at approximately $214,000.

Other hedge funds also recently modified their holdings of the company. SeaCrest Wealth Management LLC lifted its holdings in Trane Technologies by 3.6% during the 3rd quarter. SeaCrest Wealth Management LLC now owns 1,394 shares of the company’s stock worth $542,000 after buying an additional 48 shares during the period. Safeguard Financial LLC acquired a new position in Trane Technologies during the 3rd quarter worth about $313,000. Braun Bostich & Associates Inc. acquired a new position in Trane Technologies during the 3rd quarter worth about $208,000. First Pacific Financial lifted its holdings in Trane Technologies by 1.1% during the 3rd quarter. First Pacific Financial now owns 2,674 shares of the company’s stock worth $1,039,000 after buying an additional 28 shares during the period. Finally, Lockerman Financial Group Inc. lifted its holdings in Trane Technologies by 9.6% during the 3rd quarter. Lockerman Financial Group Inc. now owns 1,143 shares of the company’s stock worth $444,000 after buying an additional 100 shares during the period. 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 business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total transaction of $593,213.25. Following the completion of the sale, the executive vice president now directly owns 83,517 shares of the company’s stock, valued at approximately $27,447,862.05. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO David S. Regnery sold 29,450 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 132,946 shares in the company, valued at $42,708,902.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Raymond D. Pittard sold 1,805 shares of the business’s stock in a transaction that occurred on 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 owns 83,517 shares in the company, valued at $27,447,862.05. The trade was 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.

Analyst Upgrades and Downgrades

Several research analysts have commented on TT shares. Wells Fargo & Company lifted their target price on Trane Technologies from $320.00 to $360.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. Robert W. Baird boosted their price objective on Trane Technologies from $360.00 to $365.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. The Goldman Sachs Group boosted their price objective on Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Barclays boosted their price objective on Trane Technologies from $394.00 to $425.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Finally, Stephens reissued an “equal weight” rating and issued a $350.00 price objective on shares of Trane Technologies in a research note on Monday, August 5th. One analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $367.33.

Trane Technologies Stock Performance

Shares of Trane Technologies stock opened at $395.37 on Thursday. Trane Technologies plc has a one year low of $184.02 and a one year high of $406.96. The firm has a market capitalization of $89.49 billion, a price-to-earnings ratio of 42.24, a PEG ratio of 2.75 and a beta of 1.01. The business has a 50-day simple moving average of $366.53 and a 200 day simple moving average of $338.04. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.17 and a quick ratio of 0.84.

Trane Technologies (NYSE:TT) last issued 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 business had revenue of $5.31 billion during the quarter, compared to analyst estimates 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 was up 12.8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.68 EPS. On average, research analysts anticipate that Trane Technologies plc will post 10.88 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The business 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. This represents a $3.36 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date of this dividend is Friday, December 6th. Trane Technologies’s dividend payout ratio is currently 35.90%.

About Trane Technologies

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.