Heritage Wealth Management Inc. Sells 65 Shares of Trane Technologies plc (NYSE:TT)

Heritage Wealth Management Inc. lowered its stake in shares of Trane Technologies plc (NYSE:TT) by 9.3% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 635 shares of the company’s stock after selling 65 shares during the period. Heritage Wealth Management Inc.’s holdings in Trane Technologies were worth $235,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Jacobi Capital Management LLC lifted its stake in shares of Trane Technologies by 9.7% in the 4th quarter. Jacobi Capital Management LLC now owns 3,055 shares of the company’s stock worth $1,129,000 after purchasing an additional 271 shares during the period. Bank OZK lifted its stake in shares of Trane Technologies by 7.5% in the 4th quarter. Bank OZK now owns 6,888 shares of the company’s stock worth $2,544,000 after purchasing an additional 478 shares during the period. SVB Wealth LLC bought a new position in shares of Trane Technologies in the 4th quarter worth approximately $1,362,000. Flputnam Investment Management Co. lifted its stake in shares of Trane Technologies by 4.1% in the 4th quarter. Flputnam Investment Management Co. now owns 20,229 shares of the company’s stock worth $7,471,000 after purchasing an additional 795 shares during the period. Finally, Fortress Financial Group LLC bought a new position in shares of Trane Technologies in the 4th quarter worth approximately $208,000. Institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TT. Wells Fargo & Company lowered their price objective on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating on the stock in a research note on Friday, January 31st. Royal Bank of Canada increased their price objective on shares of Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a research note on Friday, January 3rd. Northcoast Research began coverage on shares of Trane Technologies in a report on Friday, November 22nd. They issued a “buy” rating and a $500.00 target price for the company. Melius Research reissued a “hold” rating and issued a $398.00 target price on shares of Trane Technologies in a report on Tuesday, January 28th. Finally, Barclays increased their target price on shares of Trane Technologies from $440.00 to $500.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $415.25.

Insider Activity at Trane Technologies

In related news, SVP Mairead Magner sold 4,329 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $416.00, for a total value of $1,800,864.00. Following the completion of the sale, the senior vice president now directly owns 12,893 shares in the company, valued at $5,363,488. This trade represents a 25.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David S. Regnery sold 2,754 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $357.34, for a total value of $984,114.36. Following the completion of the sale, the chief executive officer now owns 132,969 shares of the company’s stock, valued at approximately $47,515,142.46. This represents a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,563 shares of company stock valued at $4,388,966. 0.38% of the stock is owned by corporate insiders.

Trane Technologies Trading Up 2.9 %

Shares of TT opened at $354.22 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 company has a 50 day simple moving average of $371.26 and a two-hundred day simple moving average of $380.45. The firm has a market cap of $79.45 billion, a P/E ratio of 31.49, a price-to-earnings-growth ratio of 2.50 and a beta of 1.05.

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

Trane Technologies Increases Dividend

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

Trane Technologies Company 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.