Trane Technologies plc (NYSE:TT) Stock Position Decreased by NewEdge Wealth LLC

NewEdge Wealth LLC cut its stake in shares of Trane Technologies plc (NYSE:TT) by 7.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,890 shares of the company’s stock after selling 247 shares during the period. NewEdge Wealth LLC’s holdings in Trane Technologies were worth $1,067,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TT. Citigroup decreased their price objective on 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 lowered their price objective on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating on the stock in a research report on Friday, January 31st. Melius Research reissued a “hold” rating and set a $398.00 target price on shares of Trane Technologies in a research note on Tuesday, January 28th. UBS Group dropped their price target on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Finally, Northcoast Research assumed coverage on Trane Technologies in a research report on Friday, November 22nd. They set a “buy” rating and a $500.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $415.25.

Trane Technologies Trading Up 2.9 %

NYSE:TT opened at $354.22 on Monday. The company’s 50 day moving average is $371.26 and its 200-day moving average is $380.69. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. Trane Technologies plc has a 12 month low of $279.00 and a 12 month high of $422.00. The firm has a market cap of $79.45 billion, a price-to-earnings ratio of 31.49, a P/E/G ratio of 2.50 and a beta of 1.05.

Trane Technologies (NYSE:TT) last announced its earnings results on Thursday, January 30th. The company reported $2.61 EPS for the quarter, topping the consensus estimate of $2.52 by $0.09. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. Equities analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be paid a dividend of $0.94 per share. This is an increase from Trane Technologies’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Friday, March 7th. This represents a $3.76 annualized dividend and a yield of 1.06%. Trane Technologies’s dividend payout ratio is presently 29.87%.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, SVP Evan M. Turtz sold 318 shares of the firm’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $358.12, for a total value of $113,882.16. Following the sale, the senior vice president now directly owns 20,513 shares in the company, valued at $7,346,115.56. This trade represents a 1.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Christopher J. Kuehn sold 770 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were 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 of the company’s stock, valued at $22,299,384.19. This represents a 1.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,563 shares of company stock valued at $4,388,966 in the last 90 days. 0.38% of the stock is currently owned by insiders.

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.