Fortress Wealth Group LLC Reduces Stock Position in Trane Technologies plc (NYSE:TT)

Fortress Wealth Group LLC lessened its position in shares of Trane Technologies plc (NYSE:TT) by 6.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,744 shares of the company’s stock after selling 179 shares during the quarter. Fortress Wealth Group LLC’s holdings in Trane Technologies were worth $572,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Wintrust Investments LLC purchased a new stake in Trane Technologies during the 2nd quarter valued at about $627,000. Beverly Hills Private Wealth LLC boosted its stake in shares of Trane Technologies by 104.6% in the second quarter. Beverly Hills Private Wealth LLC now owns 17,860 shares of the company’s stock worth $3,647,000 after buying an additional 9,130 shares during the last quarter. Cetera Investment Advisers boosted its stake in shares of Trane Technologies by 1.3% in the second quarter. Cetera Investment Advisers now owns 10,993 shares of the company’s stock worth $2,102,000 after buying an additional 141 shares during the last quarter. Burney Co. boosted its stake in shares of Trane Technologies by 8.2% in the second quarter. Burney Co. now owns 3,945 shares of the company’s stock worth $755,000 after buying an additional 300 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC purchased a new stake in shares of Trane Technologies in the second quarter worth about $2,222,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Analysts Set New Price Targets

TT has been the topic of a number of recent research reports. HSBC initiated coverage on Trane Technologies in a research note on Friday, September 15th. They issued a “buy” rating and a $256.00 target price on the stock. Mizuho upped their target price on Trane Technologies from $185.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, August 3rd. Wells Fargo & Company reduced their price target on Trane Technologies from $195.00 to $190.00 in a report on Monday, October 9th. Citigroup upped their price target on Trane Technologies from $218.00 to $237.00 in a report on Thursday, August 3rd. Finally, Bank of America raised Trane Technologies from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $187.00 to $210.00 in a report on Thursday, October 5th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $207.31.

Insider Buying and Selling

In related news, CEO David S. Regnery sold 17,585 shares of the stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $220.00, for a total value of $3,868,700.00. Following the completion of the transaction, the chief executive officer now directly owns 93,081 shares in the company, valued at $20,477,820. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO David S. Regnery sold 17,585 shares of the firm’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $220.00, for a total transaction of $3,868,700.00. Following the completion of the transaction, the chief executive officer now directly owns 93,081 shares in the company, valued at $20,477,820. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Raymond D. Pittard sold 13,144 shares of the firm’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $218.24, for a total value of $2,868,546.56. Following the transaction, the executive vice president now owns 82,235 shares of the company’s stock, valued at $17,946,966.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 32,366 shares of company stock worth $7,093,065. Company insiders own 0.39% of the company’s stock.

Trane Technologies Price Performance

Shares of NYSE:TT traded down $0.78 during midday trading on Wednesday, hitting $228.27. The company had a trading volume of 75,665 shares, compared to its average volume of 1,341,524. Trane Technologies plc has a twelve month low of $162.04 and a twelve month high of $229.94. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.29 and a quick ratio of 0.87. The stock has a market cap of $51.95 billion, a price-to-earnings ratio of 26.98, a price-to-earnings-growth ratio of 1.84 and a beta of 1.01. The business’s 50-day simple moving average is $204.00 and its 200-day simple moving average is $194.10.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Wednesday, November 1st. The company reported $2.79 EPS for the quarter, beating the consensus estimate of $2.66 by $0.13. The firm had revenue of $4.95 billion during the quarter, compared to analysts’ expectations of $4.80 billion. Trane Technologies had a return on equity of 31.97% and a net margin of 11.30%. The business’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same quarter last year, the firm earned $2.27 earnings per share. On average, research analysts predict that Trane Technologies plc will post 9.01 earnings per share for the current year.

Trane Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 1st will be given a $0.75 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $3.00 annualized dividend and a yield of 1.31%. Trane Technologies’s payout ratio is 35.34%.

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.