Wealthspire Advisors LLC Sells 515 Shares of Trane Technologies plc (NYSE:TT)

Wealthspire Advisors LLC trimmed its stake in Trane Technologies plc (NYSE:TT) by 17.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,486 shares of the company’s stock after selling 515 shares during the period. Wealthspire Advisors LLC’s holdings in Trane Technologies were worth $918,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Global Wealth Strategies & Associates purchased a new stake in Trane Technologies during the fourth quarter worth $26,000. MidAtlantic Capital Management Inc. acquired a new position in Trane Technologies in the 3rd quarter worth about $27,000. Sound Income Strategies LLC boosted its position in 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 purchasing an additional 92 shares in the last quarter. Pittenger & Anderson Inc. acquired a new stake in Trane Technologies in the third quarter valued at approximately $39,000. Finally, Golden State Wealth Management LLC purchased a new stake in shares of Trane Technologies in the fourth quarter valued at approximately $39,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Melius Research reiterated a “hold” rating and set a $398.00 target price on shares of Trane Technologies in a research report on Tuesday, January 28th. UBS Group dropped 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 report on Friday, January 31st. Wells Fargo & Company reduced 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 report on Friday, January 31st. HSBC cut Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price target for the company. in a research report on Thursday, October 31st. Finally, Barclays raised their price target on shares of Trane Technologies from $440.00 to $500.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $415.25.

Insider Transactions at Trane Technologies

In other news, CFO Christopher J. Kuehn sold 770 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $358.39, for a total value of $275,960.30. Following the completion of the transaction, the chief financial officer now owns 62,221 shares of the company’s stock, valued at approximately $22,299,384.19. This trade represents a 1.22 % 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 4,329 shares of Trane Technologies stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the completion of the transaction, the senior vice president now owns 12,893 shares of the company’s stock, valued at $5,363,488. This trade represents a 25.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,563 shares of company stock worth $4,388,966 over the last ninety days. Company insiders own 0.38% of the company’s stock.

Trane Technologies Stock Up 0.6 %

Shares of TT opened at $349.10 on Wednesday. The company’s 50-day moving average price is $372.93 and its 200 day moving average price is $380.47. Trane Technologies plc has a 12-month low of $279.00 and a 12-month high of $422.00. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. The firm has a market cap of $78.30 billion, a P/E ratio of 31.03, a price-to-earnings-growth ratio of 2.50 and a beta of 1.05.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) 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, sell-side analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 1.08%. This is a boost 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%.

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.