WealthShield Partners LLC Sells 3,957 Shares of Trane Technologies plc (NYSE:TT)

WealthShield Partners LLC lowered its holdings in shares of Trane Technologies plc (NYSE:TTFree Report) by 28.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,826 shares of the company’s stock after selling 3,957 shares during the period. WealthShield Partners LLC’s holdings in Trane Technologies were worth $2,403,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Trane Technologies by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 18,133,851 shares of the company’s stock worth $2,769,040,000 after purchasing an additional 77,924 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Trane Technologies by 5.4% in the third quarter. JPMorgan Chase & Co. now owns 17,085,662 shares of the company’s stock valued at $3,466,852,000 after buying an additional 880,583 shares during the period. State Street Corp increased its stake in shares of Trane Technologies by 2.2% in the second quarter. State Street Corp now owns 9,832,534 shares of the company’s stock valued at $1,880,570,000 after buying an additional 210,171 shares during the period. FMR LLC increased its stake in shares of Trane Technologies by 12.4% in the third quarter. FMR LLC now owns 5,743,154 shares of the company’s stock valued at $1,165,343,000 after buying an additional 632,598 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Trane Technologies by 1.7% during the 1st quarter. Geode Capital Management LLC now owns 4,765,976 shares of the company’s stock valued at $874,863,000 after purchasing an additional 80,607 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Stock Performance

Shares of TT traded up $4.17 on Wednesday, reaching $301.68. 454,783 shares of the company’s stock traded hands, compared to its average volume of 1,026,361. The company has a current ratio of 1.13, a quick ratio of 0.78 and a debt-to-equity ratio of 0.57. The stock has a market cap of $68.50 billion, a PE ratio of 34.30, a PEG ratio of 2.32 and a beta of 1.05. The stock’s 50 day simple moving average is $280.99 and its two-hundred day simple moving average is $242.82. Trane Technologies plc has a 52-week low of $162.04 and a 52-week high of $305.00.

Trane Technologies (NYSE:TTGet Free Report) last issued its quarterly earnings results on Thursday, February 1st. The company reported $2.17 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 company had revenue of $4.42 billion during the quarter, compared to the consensus estimate of $4.43 billion. During the same period last year, the business posted $1.82 earnings per share. Trane Technologies’s revenue was up 8.6% on a year-over-year basis. On average, analysts forecast that Trane Technologies plc will post 10.19 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 1st were given a $0.84 dividend. This is an increase from Trane Technologies’s previous quarterly dividend of $0.75. This represents a $3.36 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date was Thursday, February 29th. Trane Technologies’s dividend payout ratio (DPR) is currently 38.23%.

Insiders Place Their Bets

In other Trane Technologies news, CFO Christopher J. Kuehn sold 3,762 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $286.48, for a total value of $1,077,737.76. Following the completion of the sale, the chief financial officer now directly owns 61,691 shares of the company’s stock, valued at $17,673,237.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Christopher J. Kuehn sold 3,762 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $286.48, for a total value of $1,077,737.76. Following the completion of the transaction, the chief financial officer now directly owns 61,691 shares of the company’s stock, valued at $17,673,237.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction, the chief executive officer now directly owns 113,874 shares of the company’s stock, valued at $32,589,600.06. The disclosure for this sale can be found here. Insiders sold 29,874 shares of company stock valued at $8,462,825 over the last ninety days. 0.39% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on TT. Barclays upped their target price on Trane Technologies from $286.00 to $325.00 and gave the company an “overweight” rating in a research report on Tuesday. Wells Fargo & Company increased their price target on Trane Technologies from $200.00 to $246.00 and gave the stock an “underweight” rating in a report on Tuesday, December 19th. Royal Bank of Canada increased their price target on Trane Technologies from $231.00 to $246.00 and gave the stock a “sector perform” rating in a report on Friday, February 2nd. The Goldman Sachs Group increased their price target on Trane Technologies from $253.00 to $287.00 and gave the stock a “neutral” rating in a report on Monday, February 5th. Finally, Citigroup increased their price target on Trane Technologies from $246.00 to $269.00 and gave the stock a “buy” rating in a report on Monday, December 11th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Trane Technologies currently has an average rating of “Hold” and a consensus price target of $239.92.

Read Our Latest Report on TT

About Trane Technologies

(Free Report)

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.

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Institutional Ownership by Quarter for Trane Technologies (NYSE:TT)

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