Wealthcare Advisory Partners LLC Purchases New Shares in Trane Technologies plc (NYSE:TT)

Wealthcare Advisory Partners LLC acquired a new position in shares of Trane Technologies plc (NYSE:TT) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,488 shares of the company’s stock, valued at approximately $607,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its position in Trane Technologies by 5.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 17,085,662 shares of the company’s stock worth $3,466,852,000 after purchasing an additional 880,583 shares during the last quarter. FMR LLC lifted its stake in shares of Trane Technologies by 12.4% during the third quarter. FMR LLC now owns 5,743,154 shares of the company’s stock valued at $1,165,343,000 after acquiring an additional 632,598 shares during the period. Ameriprise Financial Inc. boosted its holdings in Trane Technologies by 2.6% in the third quarter. Ameriprise Financial Inc. now owns 4,050,779 shares of the company’s stock valued at $821,952,000 after acquiring an additional 103,823 shares during the last quarter. Morgan Stanley increased its position in Trane Technologies by 0.6% in the third quarter. Morgan Stanley now owns 2,797,382 shares of the company’s stock worth $567,617,000 after purchasing an additional 17,758 shares during the period. Finally, Northern Trust Corp raised its holdings in Trane Technologies by 4.3% during the 3rd quarter. Northern Trust Corp now owns 2,522,449 shares of the company’s stock worth $511,830,000 after purchasing an additional 104,653 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

TT has been the topic of several recent research reports. JPMorgan Chase & Co. raised their target price on shares of Trane Technologies from $247.00 to $300.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. Royal Bank of Canada lifted their target price on shares of Trane Technologies from $231.00 to $246.00 and gave the stock a “sector perform” rating in a report on Friday, February 2nd. Wells Fargo & Company increased their price target on Trane Technologies from $281.00 to $295.00 and gave the company an “underweight” rating in a research note on Thursday, May 2nd. Mizuho lifted their price objective on Trane Technologies from $280.00 to $325.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Finally, Robert W. Baird increased their target price on Trane Technologies from $315.00 to $344.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $300.54.

Trane Technologies Stock Up 0.5 %

Trane Technologies stock opened at $327.53 on Thursday. Trane Technologies plc has a twelve month low of $162.04 and a twelve month high of $329.14. The company has a quick ratio of 0.74, a current ratio of 1.13 and a debt-to-equity ratio of 0.58. The company has a 50 day moving average of $297.50 and a 200-day moving average of $260.63. The stock has a market capitalization of $74.14 billion, a PE ratio of 35.00, a price-to-earnings-growth ratio of 2.54 and a beta of 1.01.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Tuesday, April 30th. The company reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.30. The firm had revenue of $4.22 billion for the quarter, compared to the consensus estimate of $3.99 billion. Trane Technologies had a return on equity of 32.78% and a net margin of 11.81%. The company’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same quarter last year, the business posted $1.41 EPS. On average, equities research analysts anticipate that Trane Technologies plc will post 10.48 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be paid a dividend of $0.84 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $3.36 annualized dividend and a dividend yield of 1.03%. Trane Technologies’s dividend payout ratio is currently 35.90%.

Insider Activity

In other news, CEO David S. Regnery sold 6,990 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $286.19, for a total transaction of $2,000,468.10. Following the completion of the transaction, the chief executive officer now directly owns 113,874 shares in the company, valued at approximately $32,589,600.06. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO David S. Regnery sold 6,990 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now owns 113,874 shares of the company’s stock, valued at approximately $32,589,600.06. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Paul A. Camuti sold 508 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $273.34, for a total transaction of $138,856.72. Following the sale, the executive vice president now directly owns 89,447 shares in the company, valued at $24,449,442.98. The disclosure for this sale can be found here. Insiders have sold 26,254 shares of company stock worth $7,484,643 over the last ninety days. Insiders own 0.39% of the company’s stock.

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.