Wedmont Private Capital Buys Shares of 1,733 Trane Technologies plc (NYSE:TT)

Wedmont Private Capital purchased a new position in Trane Technologies plc (NYSE:TT – Get Rating) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 1,733 shares of the company’s stock, valued at approximately $309,000.

Other large investors also recently modified their holdings of the company. Corient Capital Partners LLC increased its holdings in shares of Trane Technologies by 7.2% in the second quarter. Corient Capital Partners LLC now owns 3,525 shares of the company’s stock worth $458,000 after acquiring an additional 236 shares in the last quarter. WCG Wealth Advisors LLC bought a new stake in shares of Trane Technologies in the second quarter worth about $507,000. Welch & Forbes LLC increased its holdings in shares of Trane Technologies by 15.9% in the third quarter. Welch & Forbes LLC now owns 2,277 shares of the company’s stock worth $329,000 after acquiring an additional 312 shares in the last quarter. Greenleaf Trust increased its holdings in shares of Trane Technologies by 19.0% in the third quarter. Greenleaf Trust now owns 5,631 shares of the company’s stock worth $815,000 after acquiring an additional 901 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its holdings in shares of Trane Technologies by 60.4% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 13,692 shares of the company’s stock worth $1,983,000 after acquiring an additional 5,156 shares in the last quarter. 81.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on TT shares. UBS Group increased their price target on Trane Technologies from $200.00 to $224.00 and gave the stock a “buy” rating in a report on Tuesday, March 7th. The Goldman Sachs Group increased their price objective on Trane Technologies from $178.00 to $203.00 and gave the stock a “neutral” rating in a report on Monday, February 6th. Wells Fargo & Company increased their price objective on Trane Technologies from $163.00 to $176.00 and gave the stock an “underweight” rating in a report on Friday, February 3rd. BMO Capital Markets downgraded Trane Technologies from an “outperform” rating to a “market perform” rating and set a $180.00 price objective for the company. in a report on Wednesday, December 21st. Finally, Citigroup increased their price objective on Trane Technologies from $204.00 to $218.00 and gave the stock a “buy” rating in a report on Friday, February 3rd. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $183.78.

Trane Technologies Stock Performance

TT opened at $177.53 on Friday. Trane Technologies plc has a 12-month low of $120.64 and a 12-month high of $196.22. The stock has a market cap of $40.67 billion, a price-to-earnings ratio of 23.70, a PEG ratio of 2.19 and a beta of 1.00. The business has a 50 day moving average of $181.96 and a 200-day moving average of $169.74. The company has a quick ratio of 0.77, a current ratio of 1.12 and a debt-to-equity ratio of 0.62.

Trane Technologies (NYSE:TT – Get Rating) last released its quarterly earnings data on Thursday, February 2nd. The company reported $1.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.18. Trane Technologies had a return on equity of 29.14% and a net margin of 10.98%. The company had revenue of $4.07 billion during the quarter, compared to analysts’ expectations of $3.94 billion. During the same period last year, the firm posted $1.36 earnings per share. The business’s revenue was up 14.1% on a year-over-year basis. On average, equities research analysts expect that Trane Technologies plc will post 8.34 earnings per share for the current year.

Trane Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Friday, March 3rd will be given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.69%. This is a boost from Trane Technologies’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Thursday, March 2nd. Trane Technologies’s dividend payout ratio (DPR) is presently 40.05%.

Insider Buying and Selling

In related news, EVP Raymond D. Pittard sold 23,003 shares of Trane Technologies stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $170.42, for a total transaction of $3,920,171.26. Following the completion of the sale, the executive vice president now directly owns 87,718 shares of the company’s stock, valued at approximately $14,948,901.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, EVP Paul A. Camuti sold 434 shares of Trane Technologies stock in a transaction that occurred on Friday, February 3rd. The stock was sold at an average price of $185.98, for a total transaction of $80,715.32. Following the completion of the sale, the executive vice president now directly owns 89,053 shares of the company’s stock, valued at approximately $16,562,076.94. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Raymond D. Pittard sold 23,003 shares of Trane Technologies stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $170.42, for a total value of $3,920,171.26. Following the sale, the executive vice president now directly owns 87,718 shares of the company’s stock, valued at $14,948,901.56. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,970 shares of company stock valued at $6,927,921. Insiders own 0.74% of the company’s stock.

Trane Technologies Profile

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Trane Technologies Plc engages in providing solutions to buildings, homes, and transportation. It operates through the following business segments: Americas, EMEA, and Asia Pacific. The Americas segment encompasses commercial heating and cooling systems, building controls, and energy services and solutions, residential heating and cooling, and transport refrigeration systems, and solutions in North America and Latin America regions.