AMJ Financial Wealth Management Lowers Stock Holdings in Trane Technologies plc $TT

AMJ Financial Wealth Management decreased its position in shares of Trane Technologies plc (NYSE:TT) by 36.1% during the fourth quarter, HoldingsChannel reports. The firm owned 12,121 shares of the company’s stock after selling 6,847 shares during the period. AMJ Financial Wealth Management’s holdings in Trane Technologies were worth $4,717,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in TT. Brighton Jones LLC grew its stake in shares of Trane Technologies by 60.0% during the fourth quarter. Brighton Jones LLC now owns 6,194 shares of the company’s stock valued at $2,288,000 after buying an additional 2,323 shares during the last quarter. Sivia Capital Partners LLC grew its stake in shares of Trane Technologies by 22.4% during the second quarter. Sivia Capital Partners LLC now owns 1,665 shares of the company’s stock valued at $728,000 after buying an additional 305 shares during the last quarter. Schnieders Capital Management LLC. bought a new position in shares of Trane Technologies during the second quarter valued at about $227,000. Nebula Research & Development LLC grew its stake in shares of Trane Technologies by 178.0% during the second quarter. Nebula Research & Development LLC now owns 2,371 shares of the company’s stock valued at $1,037,000 after buying an additional 1,518 shares during the last quarter. Finally, Treasurer of the State of North Carolina grew its stake in shares of Trane Technologies by 0.5% during the second quarter. Treasurer of the State of North Carolina now owns 104,140 shares of the company’s stock valued at $45,552,000 after buying an additional 497 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling at Trane Technologies

In other news, insider Donald E. Simmons sold 4,593 shares of Trane Technologies stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $500.00, for a total transaction of $2,296,500.00. Following the completion of the transaction, the insider directly owned 3,819 shares in the company, valued at approximately $1,909,500. This trade represents a 54.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Elizabeth A. Elwell sold 635 shares of Trane Technologies stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $422.70, for a total transaction of $268,414.50. Following the transaction, the chief accounting officer owned 7,100 shares of the company’s stock, valued at $3,001,170. The trade was a 8.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 53,654 shares of company stock valued at $23,269,523 over the last ninety days. Company insiders own 0.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TT. Barclays raised their price objective on Trane Technologies from $507.00 to $585.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Evercore began coverage on Trane Technologies in a research note on Monday, April 13th. They set an “outperform” rating and a $535.00 price objective on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Trane Technologies in a research note on Monday, April 20th. JPMorgan Chase & Co. raised their target price on Trane Technologies from $460.00 to $476.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, Oppenheimer raised their target price on Trane Technologies from $460.00 to $468.00 and gave the stock an “outperform” rating in a research note on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $506.56.

Trane Technologies Stock Performance

Shares of TT opened at $466.65 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.10 and a quick ratio of 0.77. Trane Technologies plc has a one year low of $348.06 and a one year high of $503.47. The company has a 50-day simple moving average of $450.17 and a two-hundred day simple moving average of $428.86. The firm has a market capitalization of $103.15 billion, a PE ratio of 36.09, a price-to-earnings-growth ratio of 2.22 and a beta of 1.25.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Friday, May 1st. The company reported $2.63 EPS for the quarter, topping the consensus estimate of $2.53 by $0.10. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The business had revenue of $4.97 billion during the quarter, compared to analyst estimates of $4.81 billion. During the same period last year, the business posted $2.45 earnings per share. Trane Technologies’s quarterly revenue was up 6.0% compared to the same quarter last year. On average, analysts anticipate that Trane Technologies plc will post 14.87 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th will be issued a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, June 5th. Trane Technologies’s dividend payout ratio (DPR) is presently 32.48%.

About Trane Technologies

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.