Barlow Wealth Partners Inc. Makes New Investment in Trane Technologies plc (NYSE:TT)

Barlow Wealth Partners Inc. bought a new stake in Trane Technologies plc (NYSE:TT) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 7,380 shares of the company’s stock, valued at approximately $1,800,000.

Several other large investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. raised its stake in Trane Technologies by 5.4% during the third quarter. JPMorgan Chase & Co. now owns 17,085,662 shares of the company’s stock worth $3,466,852,000 after purchasing an additional 880,583 shares during the period. FMR LLC grew its position in Trane Technologies by 12.4% in the third quarter. FMR LLC now owns 5,743,154 shares of the company’s stock worth $1,165,343,000 after acquiring an additional 632,598 shares during the period. Ameriprise Financial Inc. increased its stake in Trane Technologies by 2.6% during the third quarter. Ameriprise Financial Inc. now owns 4,050,779 shares of the company’s stock worth $821,952,000 after acquiring an additional 103,823 shares during the last quarter. Morgan Stanley raised its position in Trane Technologies by 0.6% in the third quarter. Morgan Stanley now owns 2,797,382 shares of the company’s stock valued at $567,617,000 after purchasing an additional 17,758 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of Trane Technologies by 4.3% in the 3rd quarter. Northern Trust Corp now owns 2,522,449 shares of the company’s stock valued at $511,830,000 after purchasing an additional 104,653 shares during the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TT has been the subject of a number of recent analyst reports. Stephens lifted their price target on shares of Trane Technologies from $310.00 to $320.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 1st. JPMorgan Chase & Co. boosted their target price on Trane Technologies from $247.00 to $300.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. Mizuho raised their price target on Trane Technologies from $280.00 to $325.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Barclays raised their target price on Trane Technologies from $286.00 to $325.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. Finally, The Goldman Sachs Group increased their price target on shares of Trane Technologies from $287.00 to $326.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $300.54.

Insider Buying and Selling at Trane Technologies

In related news, SVP Evan M. Turtz sold 2,821 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $288.33, for a total value of $813,378.93. Following the sale, the senior vice president now owns 20,729 shares of the company’s stock, valued at approximately $5,976,792.57. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CEO David S. Regnery sold 6,990 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $286.19, for a total transaction of $2,000,468.10. Following the sale, the chief executive officer now owns 113,874 shares in the company, valued at $32,589,600.06. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Evan M. Turtz sold 2,821 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $288.33, for a total value of $813,378.93. Following the completion of the transaction, the senior vice president now owns 20,729 shares of the company’s stock, valued at $5,976,792.57. The disclosure for this sale can be found here. In the last three months, insiders sold 28,237 shares of company stock worth $8,024,534. 0.39% of the stock is owned by corporate insiders.

Trane Technologies Price Performance

TT stock traded up $1.64 during trading on Wednesday, reaching $327.53. 647,371 shares of the company were exchanged, compared to its average volume of 1,022,589. Trane Technologies plc has a 52-week low of $162.04 and a 52-week high of $329.14. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.74 and a current ratio of 1.13. The company has a market cap of $74.14 billion, a P/E ratio of 35.00, a PEG ratio of 2.54 and a beta of 1.01. The stock’s 50 day moving average price is $297.50 and its 200 day moving average price is $260.63.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Tuesday, April 30th. The company reported $1.94 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.30. The business had revenue of $4.22 billion for the quarter, compared to analysts’ expectations of $3.99 billion. Trane Technologies had a return on equity of 32.78% and a net margin of 11.81%. The company’s revenue was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.41 EPS. As a group, analysts predict that Trane Technologies plc will post 10.48 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

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

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.