Net Worth Advisory Group Reduces Stock Holdings in Trane Technologies plc (NYSE:TT)

Net Worth Advisory Group reduced its stake in Trane Technologies plc (NYSE:TT) by 1.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,876 shares of the company’s stock after selling 34 shares during the period. Net Worth Advisory Group’s holdings in Trane Technologies were worth $693,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Vista Investment Partners II LLC acquired a new stake in shares of Trane Technologies in the fourth quarter valued at approximately $332,000. Tortoise Investment Management LLC boosted its holdings in shares of Trane Technologies by 6.5% in the fourth quarter. Tortoise Investment Management LLC now owns 537 shares of the company’s stock valued at $198,000 after acquiring an additional 33 shares during the period. Independent Advisor Alliance boosted its holdings in shares of Trane Technologies by 17.9% in the fourth quarter. Independent Advisor Alliance now owns 6,298 shares of the company’s stock valued at $2,326,000 after acquiring an additional 954 shares during the period. Marvin & Palmer Associates Inc. boosted its holdings in shares of Trane Technologies by 58.4% in the fourth quarter. Marvin & Palmer Associates Inc. now owns 13,017 shares of the company’s stock valued at $4,808,000 after acquiring an additional 4,799 shares during the period. Finally, Johnson Investment Counsel Inc. boosted its holdings in shares of Trane Technologies by 14.7% in the fourth quarter. Johnson Investment Counsel Inc. now owns 1,287 shares of the company’s stock valued at $475,000 after acquiring an additional 165 shares during the period. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Christopher J. Kuehn sold 876 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $357.42, for a total value of $313,099.92. Following the completion of the transaction, the chief financial officer now owns 63,841 shares in the company, valued at $22,818,050.22. This trade represents a 1.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO David S. Regnery sold 2,754 shares of the firm’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total value of $984,114.36. Following the completion of the transaction, the chief executive officer now owns 132,969 shares of the company’s stock, valued at approximately $47,515,142.46. This represents a 2.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,234 shares of company stock worth $2,588,102 over the last 90 days. 0.38% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on TT shares. Melius Research reissued a “hold” rating and issued a $398.00 price objective on shares of Trane Technologies in a report on Tuesday, January 28th. Royal Bank of Canada increased their price objective on Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a report on Friday, January 3rd. Wells Fargo & Company decreased their price objective on Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a report on Friday, January 31st. Northcoast Research started coverage on Trane Technologies in a report on Friday, November 22nd. They set a “buy” rating and a $500.00 price target for the company. Finally, Barclays decreased their price target on Trane Technologies from $500.00 to $475.00 and set an “overweight” rating for the company in a report on Monday. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $413.69.

Trane Technologies Price Performance

Trane Technologies stock opened at $338.24 on Tuesday. Trane Technologies plc has a one year low of $279.00 and a one year high of $422.00. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21. The business has a fifty day moving average of $367.30 and a two-hundred day moving average of $380.52. The company has a market cap of $75.86 billion, a P/E ratio of 30.07, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08.

Trane Technologies (NYSE:TT) last released its earnings results on Thursday, January 30th. The company reported $2.61 EPS for the quarter, beating analysts’ consensus estimates of $2.52 by $0.09. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. As a group, analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be given a $0.94 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.11%. This is a boost from Trane Technologies’s previous quarterly dividend of $0.84. Trane Technologies’s dividend payout ratio (DPR) is currently 33.42%.

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.