Modern Wealth Management LLC Boosts Position in Trane Technologies plc (NYSE:TT)

Modern Wealth Management LLC lifted its holdings in Trane Technologies plc (NYSE:TT) by 59.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,060 shares of the company’s stock after acquiring an additional 1,146 shares during the quarter. Modern Wealth Management LLC’s holdings in Trane Technologies were worth $1,103,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of Trane Technologies by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 19,235,570 shares of the company’s stock worth $7,104,658,000 after purchasing an additional 152,353 shares during the period. State Street Corp grew its position in Trane Technologies by 0.8% during the third quarter. State Street Corp now owns 9,769,161 shares of the company’s stock valued at $3,797,565,000 after buying an additional 77,830 shares during the period. Geode Capital Management LLC grew its position in Trane Technologies by 1.4% during the third quarter. Geode Capital Management LLC now owns 4,638,914 shares of the company’s stock valued at $1,797,700,000 after buying an additional 65,991 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Trane Technologies by 0.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,142,081 shares of the company’s stock valued at $832,691,000 after buying an additional 20,151 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Trane Technologies in the fourth quarter worth about $611,322,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Trading Down 3.2 %

Shares of TT opened at $352.29 on Thursday. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. The firm has a 50-day moving average price of $359.83 and a 200 day moving average price of $380.06. Trane Technologies plc has a 12-month low of $286.32 and a 12-month high of $422.00. The firm has a market capitalization of $79.01 billion, a P/E ratio of 31.31, a P/E/G ratio of 2.50 and a beta of 1.08.

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, topping analysts’ consensus estimates of $2.52 by $0.09. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. Sell-side analysts forecast that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be issued a $0.94 dividend. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend is Friday, March 7th. Trane Technologies’s payout ratio is 33.42%.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, CFO Christopher J. Kuehn sold 770 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $358.39, for a total transaction of $275,960.30. Following the transaction, the chief financial officer now directly owns 62,221 shares in the company, valued at $22,299,384.19. This represents a 1.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David S. Regnery sold 2,318 shares of Trane Technologies stock in a transaction on Monday, February 10th. The shares were sold at an average price of $358.17, for a total value of $830,238.06. Following the completion of the sale, the chief executive officer now directly owns 126,831 shares of the company’s stock, valued at $45,427,059.27. The trade was a 1.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,234 shares of company stock valued at $2,588,102 over the last 90 days. 0.38% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on TT. Melius Research reaffirmed a “hold” rating and issued a $398.00 price target on shares of Trane Technologies in a report on Tuesday, January 28th. Melius downgraded Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 target price for the company. in a research note on Tuesday, January 28th. 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 note on Friday, January 31st. UBS Group reduced their price objective on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Finally, Royal Bank of Canada lifted their target price on shares of Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a research report on Friday, January 3rd. One equities research 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’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $413.69.

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.