Centricity Wealth Management LLC Acquires Shares of 149 Trane Technologies plc (NYSE:TT)

Centricity Wealth Management LLC acquired a new stake in Trane Technologies plc (NYSE:TT) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 149 shares of the company’s stock, valued at approximately $55,000.

A number of other hedge funds have also modified their holdings of the business. MidAtlantic Capital Management Inc. acquired a new stake in Trane Technologies during the 3rd quarter worth $27,000. Global Wealth Strategies & Associates purchased a new stake in shares of Trane Technologies in the fourth quarter valued at about $26,000. DT Investment Partners LLC acquired a new stake in shares of Trane Technologies during the third quarter worth about $36,000. Sound Income Strategies LLC grew its holdings in shares of Trane Technologies by 1,314.3% during the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock worth $37,000 after buying an additional 92 shares during the last quarter. Finally, Pittenger & Anderson Inc. acquired a new position in Trane Technologies in the 3rd quarter valued at about $39,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Christopher J. Kuehn sold 876 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $357.42, for a total value of $313,099.92. Following the completion of the transaction, the chief financial officer now directly owns 63,841 shares in the company, valued at approximately $22,818,050.22. This represents a 1.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Mairead Magner sold 198 shares of the stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $357.61, for a total value of $70,806.78. Following the transaction, the senior vice president now owns 13,401 shares in the company, valued at $4,792,331.61. This trade represents a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,563 shares of company stock valued at $4,388,966 in the last ninety days. Insiders own 0.38% of the company’s stock.

Trane Technologies Trading Down 3.3 %

Shares of TT opened at $354.56 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88. Trane Technologies plc has a 1-year low of $279.00 and a 1-year high of $422.00. The stock has a market cap of $79.52 billion, a price-to-earnings ratio of 31.52, a price-to-earnings-growth ratio of 2.53 and a beta of 1.05. The firm has a 50 day simple moving average of $374.82 and a 200-day simple moving average of $379.44.

Trane Technologies (NYSE:TT) last released its quarterly earnings results 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%. Equities analysts forecast that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 1.06%. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.84. The ex-dividend date is Friday, March 7th. Trane Technologies’s dividend payout ratio is 29.87%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TT. Robert W. Baird decreased their price objective on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Barclays increased their price target on Trane Technologies from $440.00 to $500.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Melius cut shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price objective on the stock. in a research note on Tuesday, January 28th. HSBC cut shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 target price for the company. in a research note on Thursday, October 31st. Finally, Melius Research reiterated a “hold” rating and set a $398.00 price target on shares of Trane Technologies in a research note on Tuesday, January 28th. One equities 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $415.25.

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.