Old North State Wealth Management LLC Purchases 146 Shares of Trane Technologies plc (NYSE:TT)

Old North State Wealth Management LLC grew its position in Trane Technologies plc (NYSE:TT) by 15.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,111 shares of the company’s stock after purchasing an additional 146 shares during the period. Old North State Wealth Management LLC’s holdings in Trane Technologies were worth $433,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. DT Investment Partners LLC acquired a new stake in shares of Trane Technologies in the third quarter valued at about $36,000. Fortitude Family Office LLC lifted its stake in Trane Technologies by 63.2% during the second quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock worth $37,000 after purchasing an additional 43 shares during the last quarter. Triad Wealth Partners LLC acquired a new position in shares of Trane Technologies during the second quarter worth $39,000. Quarry LP acquired a new position in shares of Trane Technologies during the second quarter worth $39,000. Finally, Valley Wealth Managers Inc. acquired a new stake in Trane Technologies in the second quarter valued at $51,000. 82.97% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Trane Technologies

In other news, CEO David S. Regnery sold 29,450 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $321.25, for a total value of $9,460,812.50. Following the sale, the chief executive officer now owns 132,946 shares in the company, valued at $42,708,902.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Raymond D. Pittard sold 1,805 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total transaction of $593,213.25. Following the completion of the sale, the executive vice president now directly owns 83,517 shares in the company, valued at approximately $27,447,862.05. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David S. Regnery sold 29,450 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $321.25, for a total transaction of $9,460,812.50. Following the sale, the chief executive officer now owns 132,946 shares of the company’s stock, valued at approximately $42,708,902.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Stephens reissued an “equal weight” rating and issued a $350.00 price objective on shares of Trane Technologies in a research report on Monday, August 5th. Barclays lifted their price target on Trane Technologies from $425.00 to $440.00 and gave the company an “overweight” rating in a research note on Thursday. The Goldman Sachs Group boosted their target price on Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Morgan Stanley started coverage on shares of Trane Technologies in a report on Friday, September 6th. They issued an “overweight” rating and a $425.00 price target on the stock. Finally, Mizuho lifted their price target on shares of Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $380.15.

Trane Technologies Stock Up 1.6 %

Shares of TT stock opened at $376.15 on Monday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.84. The company has a market capitalization of $84.64 billion, a price-to-earnings ratio of 34.89, a PEG ratio of 2.51 and a beta of 1.02. The company’s fifty day moving average price is $377.83 and its 200-day moving average price is $346.08. Trane Technologies plc has a one year low of $211.31 and a one year high of $406.96.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, beating the consensus estimate of $3.23 by $0.14. The business had revenue of $5.44 billion during the quarter, compared to analyst estimates of $5.32 billion. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The company’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.79 EPS. Sell-side analysts expect that Trane Technologies plc will post 11.06 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th will be paid a dividend of $0.84 per share. The ex-dividend date is Friday, December 6th. This represents a $3.36 dividend on an annualized basis and a yield of 0.89%. Trane Technologies’s payout ratio is 31.17%.

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.