MorganRosel Wealth Management LLC Increases Stake in Trane Technologies plc (NYSE:TT)

MorganRosel Wealth Management LLC increased its holdings in Trane Technologies plc (NYSE:TT) by 2.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,695 shares of the company’s stock after acquiring an additional 98 shares during the quarter. MorganRosel Wealth Management LLC’s holdings in Trane Technologies were worth $1,365,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TT. MidAtlantic Capital Management Inc. bought a new position in Trane Technologies in the third quarter worth approximately $27,000. Global Wealth Strategies & Associates bought a new position in Trane Technologies in the fourth quarter worth about $26,000. Sound Income Strategies LLC boosted its holdings in shares of Trane Technologies by 1,314.3% in the 4th quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock valued at $37,000 after buying an additional 92 shares in the last quarter. Pittenger & Anderson Inc. bought a new position in shares of Trane Technologies during the 3rd quarter worth approximately $39,000. Finally, Golden State Wealth Management LLC purchased a new stake in Trane Technologies during the fourth quarter valued at approximately $39,000. 82.97% of the stock is currently owned by institutional investors.

Trane Technologies Stock Performance

Shares of TT stock opened at $346.49 on Tuesday. The firm has a fifty day moving average price of $373.78 and a 200 day moving average price of $380.36. The company has a market cap of $77.72 billion, a P/E ratio of 30.80, a PEG ratio of 2.50 and a beta of 1.05. Trane Technologies plc has a 12 month low of $279.00 and a 12 month high of $422.00. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Thursday, January 30th. The company reported $2.61 earnings per share (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%. Sell-side analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be given a $0.94 dividend. This is an increase from Trane Technologies’s previous quarterly dividend of $0.84. The ex-dividend date is Friday, March 7th. This represents a $3.76 annualized dividend and a yield of 1.09%. Trane Technologies’s dividend payout ratio is 29.87%.

Analysts Set New Price Targets

TT has been the subject of several research analyst reports. Citigroup decreased their price objective on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Wells Fargo & Company decreased their price objective on Trane Technologies from $380.00 to $360.00 and set an “underweight” rating on the stock in a report on Friday, January 31st. HSBC downgraded Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price objective for the company. in a research report on Thursday, October 31st. Barclays upped their target price on shares of Trane Technologies from $440.00 to $500.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Trane Technologies from $387.00 to $396.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $415.25.

Insider Transactions at Trane Technologies

In related news, CEO David S. Regnery sold 2,754 shares of the business’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total transaction of $984,114.36. Following the sale, the chief executive officer now owns 132,969 shares of the company’s stock, valued at approximately $47,515,142.46. The trade was a 2.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Mairead Magner sold 198 shares of the company’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $357.61, for a total transaction of $70,806.78. Following the transaction, the senior vice president now owns 13,401 shares in the company, valued at $4,792,331.61. The trade was a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 11,563 shares of company stock valued at $4,388,966. Corporate insiders own 0.38% of the company’s stock.

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.