Wedbush Securities Inc. Grows Position in Trane Technologies plc (NYSE:TT)

Wedbush Securities Inc. boosted its stake in shares of Trane Technologies plc (NYSE:TT) by 0.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 6,539 shares of the company’s stock after buying an additional 43 shares during the period. Wedbush Securities Inc.’s holdings in Trane Technologies were worth $2,415,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. IHT Wealth Management LLC grew its position in shares of Trane Technologies by 55.3% during the third quarter. IHT Wealth Management LLC now owns 1,249 shares of the company’s stock valued at $485,000 after purchasing an additional 445 shares in the last quarter. Quantinno Capital Management LP grew its holdings in Trane Technologies by 40.6% during the 3rd quarter. Quantinno Capital Management LP now owns 10,991 shares of the company’s stock valued at $4,273,000 after buying an additional 3,174 shares in the last quarter. Wellington Management Group LLP grew its holdings in Trane Technologies by 4.3% during the 3rd quarter. Wellington Management Group LLP now owns 728,428 shares of the company’s stock valued at $283,162,000 after buying an additional 30,038 shares in the last quarter. Voya Financial Advisors Inc. bought a new stake in Trane Technologies in the 3rd quarter worth approximately $289,000. Finally, Kovitz Investment Group Partners LLC purchased a new stake in shares of Trane Technologies during the 3rd quarter worth approximately $1,438,000. 82.97% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TT has been the topic of several research reports. Melius cut shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price target on the stock. in a research report on Tuesday, January 28th. Royal Bank of Canada boosted their target price on shares of Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a report on Friday, January 3rd. Wells Fargo & Company lowered their price target on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a report on Friday, January 31st. UBS Group reduced their price objective on Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Finally, Barclays lowered their price objective on Trane Technologies from $500.00 to $475.00 and set an “overweight” rating for the company in a research note on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $413.69.

Insider Activity

In related news, CEO David S. Regnery sold 2,754 shares of Trane Technologies stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total transaction of $984,114.36. Following the transaction, the chief executive officer now directly owns 132,969 shares of the company’s stock, valued at $47,515,142.46. This trade represents a 2.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Mairead Magner sold 198 shares of the company’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 sale, the senior vice president now owns 13,401 shares of the company’s stock, valued at approximately $4,792,331.61. This represents a 1.46 % 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 worth $2,588,102. Company insiders own 0.38% of the company’s stock.

Trane Technologies Trading Down 3.9 %

NYSE TT opened at $318.18 on Friday. Trane Technologies plc has a 12 month low of $286.32 and a 12 month high of $422.00. The company’s 50-day moving average price is $351.63 and its 200-day moving average price is $378.95. The stock has a market cap of $71.36 billion, a PE ratio of 28.28, a PEG ratio of 2.50 and a beta of 1.08. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58.

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

Trane Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date is Friday, June 6th. Trane Technologies’s payout ratio is 33.42%.

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.