Trane Technologies plc (NYSE:TT) Shares Sold by Merit Financial Group LLC

Merit Financial Group LLC trimmed its holdings in Trane Technologies plc (NYSE:TT) by 1.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,269 shares of the company’s stock after selling 56 shares during the period. Merit Financial Group LLC’s holdings in Trane Technologies were worth $797,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Commonwealth Equity Services LLC lifted its stake in Trane Technologies by 1.9% during the third quarter. Commonwealth Equity Services LLC now owns 41,603 shares of the company’s stock worth $8,442,000 after purchasing an additional 793 shares during the last quarter. Stratos Wealth Partners LTD. lifted its stake in Trane Technologies by 2.6% during the third quarter. Stratos Wealth Partners LTD. now owns 4,586 shares of the company’s stock worth $931,000 after purchasing an additional 117 shares during the last quarter. J.W. Cole Advisors Inc. lifted its stake in Trane Technologies by 5.2% during the third quarter. J.W. Cole Advisors Inc. now owns 1,328 shares of the company’s stock worth $270,000 after purchasing an additional 66 shares during the last quarter. Brown Advisory Inc. lifted its stake in Trane Technologies by 69.7% during the third quarter. Brown Advisory Inc. now owns 36,340 shares of the company’s stock worth $7,374,000 after purchasing an additional 14,931 shares during the last quarter. Finally, Verdence Capital Advisors LLC lifted its stake in Trane Technologies by 6.3% during the third quarter. Verdence Capital Advisors LLC now owns 1,307 shares of the company’s stock worth $265,000 after purchasing an additional 78 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Trane Technologies

In related news, EVP Paul A. Camuti sold 508 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $273.34, for a total transaction of $138,856.72. Following the completion of the sale, the executive vice president now directly owns 89,447 shares of the company’s stock, valued at approximately $24,449,442.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Keith A. Sultana sold 1,983 shares of Trane Technologies stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $272.26, for a total value of $539,891.58. Following the completion of the sale, the senior vice president now directly owns 42,575 shares of the company’s stock, valued at approximately $11,591,469.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Paul A. Camuti sold 508 shares of Trane Technologies stock in a transaction on Friday, February 9th. The shares were sold at an average price of $273.34, for a total value of $138,856.72. Following the completion of the sale, the executive vice president now directly owns 89,447 shares of the company’s stock, valued at $24,449,442.98. The disclosure for this sale can be found here. Insiders sold 28,237 shares of company stock valued at $8,024,534 in the last three months. Corporate insiders own 0.39% of the company’s stock.

Trane Technologies Price Performance

Shares of NYSE:TT opened at $325.83 on Tuesday. The business has a 50 day moving average price of $296.65 and a 200 day moving average price of $259.66. Trane Technologies plc has a twelve month low of $162.04 and a twelve month high of $327.09. The company has a market cap of $73.75 billion, a price-to-earnings ratio of 34.81, a PEG ratio of 2.54 and a beta of 1.01. The company has a quick ratio of 0.74, a current ratio of 1.13 and a debt-to-equity ratio of 0.58.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $1.94 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.30. Trane Technologies had a return on equity of 32.78% and a net margin of 11.81%. The company had revenue of $4.22 billion during the quarter, compared to the consensus estimate of $3.99 billion. During the same quarter last year, the company earned $1.41 EPS. The company’s quarterly revenue was up 15.0% on a year-over-year basis. Research analysts predict that Trane Technologies plc will post 10.48 earnings per share for the current year.

Trane Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be issued a dividend of $0.84 per share. The ex-dividend date is Thursday, June 6th. This represents a $3.36 dividend on an annualized basis and a yield of 1.03%. Trane Technologies’s dividend payout ratio is 35.90%.

Analysts Set New Price Targets

TT has been the topic of a number of research analyst reports. The Goldman Sachs Group raised their price target on Trane Technologies from $287.00 to $326.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Mizuho increased their price objective on Trane Technologies from $280.00 to $325.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Stephens lifted their target price on Trane Technologies from $310.00 to $320.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 1st. Wells Fargo & Company boosted their target price on Trane Technologies from $281.00 to $295.00 and gave the stock an “underweight” rating in a research report on Thursday, May 2nd. Finally, Citigroup boosted their price target on shares of Trane Technologies from $355.00 to $366.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $300.54.

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.