OneAscent Wealth Management LLC Has $628,000 Position in Trane Technologies plc (NYSE:TT)

OneAscent Wealth Management LLC decreased its stake in Trane Technologies plc (NYSE:TT) by 23.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,700 shares of the company’s stock after selling 534 shares during the period. OneAscent Wealth Management LLC’s holdings in Trane Technologies were worth $628,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in TT. Allstate Corp bought a new position in Trane Technologies during the fourth quarter worth $2,438,000. DnB Asset Management AS raised its position in shares of Trane Technologies by 2.3% in the 4th quarter. DnB Asset Management AS now owns 58,966 shares of the company’s stock worth $21,779,000 after acquiring an additional 1,305 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in shares of Trane Technologies by 2.7% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 68,336 shares of the company’s stock valued at $25,240,000 after purchasing an additional 1,825 shares during the period. New Age Alpha Advisors LLC bought a new stake in shares of Trane Technologies during the 4th quarter valued at about $74,000. Finally, Norges Bank acquired a new stake in Trane Technologies during the fourth quarter worth approximately $1,117,816,000. 82.97% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Trane Technologies news, SVP Mairead Magner sold 198 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $357.61, for a total value of $70,806.78. Following the completion of the sale, the senior vice president now directly owns 13,401 shares of the company’s stock, valued at $4,792,331.61. This trade represents a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO David S. Regnery sold 2,754 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total value of $984,114.36. Following the transaction, the chief executive officer now directly owns 132,969 shares in the company, valued at $47,515,142.46. This represents a 2.03 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,234 shares of company stock valued at $2,588,102. Company insiders own 0.38% of the company’s stock.

Analyst Ratings Changes

TT has been the topic of a number of research analyst reports. Citigroup cut their price target on Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a report on Monday, January 13th. UBS Group cut their target price on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Wells Fargo & Company decreased their price target on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a research note on Friday, January 31st. Melius Research reissued a “hold” rating and set a $398.00 price objective on shares of Trane Technologies in a research report on Tuesday, January 28th. Finally, Royal Bank of Canada raised their target price on Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a research note on Friday, January 3rd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $413.69.

Trane Technologies Price Performance

Shares of NYSE TT opened at $331.69 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $74.40 billion, a PE ratio of 29.48, a PEG ratio of 2.50 and a beta of 1.08. The stock’s 50 day moving average price is $357.83 and its 200-day moving average price is $379.73. Trane Technologies plc has a twelve month low of $286.32 and a twelve month high of $422.00.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, topping the consensus estimate of $2.52 by $0.09. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. On average, equities analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date is Friday, March 7th. This is an increase from Trane Technologies’s previous quarterly dividend of $0.84. Trane Technologies’s dividend payout ratio (DPR) is 33.42%.

Trane Technologies Profile

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.