Wealth Alliance Lowers Position in Trane Technologies plc (NYSE:TT)

Wealth Alliance cut its holdings in Trane Technologies plc (NYSE:TT) by 6.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,365 shares of the company’s stock after selling 224 shares during the quarter. Wealth Alliance’s holdings in Trane Technologies were worth $821,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. BKM Wealth Management LLC bought a new position in Trane Technologies in the fourth quarter worth about $25,000. Live Oak Investment Partners bought a new position in Trane Technologies in the fourth quarter worth about $30,000. Venturi Wealth Management LLC raised its holdings in Trane Technologies by 139.7% in the third quarter. Venturi Wealth Management LLC now owns 151 shares of the company’s stock worth $31,000 after purchasing an additional 88 shares in the last quarter. 1832 Asset Management L.P. bought a new position in Trane Technologies in the first quarter worth about $34,000. Finally, Avior Wealth Management LLC raised its holdings in Trane Technologies by 58.0% in the third quarter. Avior Wealth Management LLC now owns 177 shares of the company’s stock worth $36,000 after purchasing an additional 65 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Trading Up 0.6 %

Shares of NYSE:TT opened at $295.71 on Wednesday. Trane Technologies plc has a 1 year low of $162.04 and a 1 year high of $306.98. The firm has a market capitalization of $67.15 billion, a price-to-earnings ratio of 33.64, a price-to-earnings-growth ratio of 2.48 and a beta of 1.05. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.13 and a quick ratio of 0.78. The business’s 50 day moving average price is $288.63 and its 200-day moving average price is $249.71.

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

Trane Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be issued a $0.84 dividend. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $3.36 dividend on an annualized basis and a yield of 1.14%. Trane Technologies’s payout ratio is currently 38.23%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on TT. Stephens boosted their target price on shares of Trane Technologies from $235.00 to $280.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 6th. Barclays upped their price objective on shares of Trane Technologies from $286.00 to $325.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. Royal Bank of Canada upped their price objective on shares of Trane Technologies from $231.00 to $246.00 and gave the company a “sector perform” rating in a report on Friday, February 2nd. Citigroup increased their price target on shares of Trane Technologies from $309.00 to $355.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Finally, Wells Fargo & Company increased their price target on shares of Trane Technologies from $200.00 to $246.00 and gave the stock an “underweight” rating in a report on Tuesday, December 19th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Trane Technologies has a consensus rating of “Hold” and a consensus price target of $251.83.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, CEO David S. Regnery sold 6,990 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $286.19, for a total value of $2,000,468.10. Following the transaction, the chief executive officer now owns 113,874 shares in the company, valued at approximately $32,589,600.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Trane Technologies news, CEO David S. Regnery sold 6,990 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $286.19, for a total value of $2,000,468.10. Following the completion of the sale, the chief executive officer now directly owns 113,874 shares of the company’s stock, valued at approximately $32,589,600.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Keith A. Sultana sold 1,983 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $272.26, for a total value of $539,891.58. Following the completion of the sale, the senior vice president now directly owns 42,575 shares of the company’s stock, valued at $11,591,469.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,874 shares of company stock worth $8,462,825. Corporate insiders own 0.39% 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.