Institute for Wealth Management LLC. Makes New $234,000 Investment in Trane Technologies plc (NYSE:TT)

Institute for Wealth Management LLC. bought a new position in Trane Technologies plc (NYSE:TT) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 958 shares of the company’s stock, valued at approximately $234,000.

A number of other institutional investors have also recently added to or reduced their stakes in TT. Norges Bank acquired a new stake in shares of Trane Technologies during the 4th quarter valued at $526,026,000. Moneta Group Investment Advisors LLC lifted its position in shares of Trane Technologies by 109,668.5% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 1,963,758 shares of the company’s stock valued at $330,088,000 after acquiring an additional 1,961,969 shares during the last quarter. First Trust Advisors LP lifted its position in shares of Trane Technologies by 2,606.5% during the 1st quarter. First Trust Advisors LP now owns 1,081,171 shares of the company’s stock valued at $165,095,000 after acquiring an additional 1,041,224 shares during the last quarter. International Assets Investment Management LLC lifted its position in shares of Trane Technologies by 24,670.7% during the 4th quarter. International Assets Investment Management LLC now owns 1,034,423 shares of the company’s stock valued at $252,296,000 after acquiring an additional 1,030,247 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Trane Technologies by 5.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 17,085,662 shares of the company’s stock valued at $3,466,852,000 after acquiring an additional 880,583 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Trane Technologies Trading Down 0.4 %

NYSE TT opened at $288.27 on Friday. Trane Technologies plc has a 1-year low of $162.04 and a 1-year high of $306.98. 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 company has a market capitalization of $65.46 billion, a PE ratio of 32.80, a price-to-earnings-growth ratio of 2.43 and a beta of 1.05. The firm’s fifty day simple moving average is $289.67 and its 200-day simple moving average is $251.30.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Thursday, February 1st. The company reported $2.17 earnings per share for the quarter, topping analysts’ consensus estimates of $2.13 by $0.04. Trane Technologies had a net margin of 11.45% and a return on equity of 32.01%. The business had revenue of $4.42 billion for the quarter, compared to the consensus estimate of $4.43 billion. During the same period in the prior year, the business posted $1.82 earnings per share. Trane Technologies’s revenue for the quarter was up 8.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Trane Technologies plc will post 10.2 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 1.17%. The ex-dividend date is Thursday, June 6th. Trane Technologies’s payout ratio is 38.23%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on TT. Stephens increased their price objective on Trane Technologies from $235.00 to $280.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 6th. Citigroup increased their price objective on Trane Technologies from $309.00 to $355.00 and gave the company a “buy” rating in a research report on Monday, April 8th. The Goldman Sachs Group increased their target price on Trane Technologies from $253.00 to $287.00 and gave the company a “neutral” rating in a report on Monday, February 5th. Royal Bank of Canada increased their target price on Trane Technologies from $231.00 to $246.00 and gave the company a “sector perform” rating in a report on Friday, February 2nd. Finally, Barclays increased their target price on Trane Technologies from $286.00 to $325.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $251.83.

Insiders Place Their Bets

In other Trane Technologies news, SVP Evan M. Turtz sold 2,821 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $288.33, for a total transaction of $813,378.93. Following the transaction, the senior vice president now directly owns 20,729 shares of the company’s stock, valued at $5,976,792.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Trane Technologies news, SVP Evan M. Turtz sold 2,821 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $288.33, for a total transaction of $813,378.93. Following the transaction, the senior vice president now directly owns 20,729 shares of the company’s stock, valued at $5,976,792.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Keith A. Sultana sold 1,637 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $267.74, for a total transaction of $438,290.38. Following the transaction, the senior vice president now directly owns 42,374 shares in the company, valued at $11,345,214.76. The disclosure for this sale can be found here. Insiders have sold 29,874 shares of company stock valued at $8,462,825 over the last three months. 0.39% 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.