Spire Wealth Management Increases Holdings in Trane Technologies plc (NYSE:TT)

Spire Wealth Management grew its holdings in Trane Technologies plc (NYSE:TT) by 28.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 5,812 shares of the company’s stock after buying an additional 1,295 shares during the quarter. Spire Wealth Management’s holdings in Trane Technologies were worth $1,447,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in TT. Wellington Management Group LLP lifted its holdings in Trane Technologies by 36.4% in the third quarter. Wellington Management Group LLP now owns 1,639,058 shares of the company’s stock worth $332,581,000 after buying an additional 436,997 shares during the period. Xponance Inc. raised its position in shares of Trane Technologies by 18.6% in the 4th quarter. Xponance Inc. now owns 43,825 shares of the company’s stock worth $10,689,000 after acquiring an additional 6,869 shares in the last quarter. CHICAGO TRUST Co NA lifted its stake in shares of Trane Technologies by 2.1% in the 4th quarter. CHICAGO TRUST Co NA now owns 3,136 shares of the company’s stock valued at $765,000 after purchasing an additional 64 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Trane Technologies by 60.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 112,239 shares of the company’s stock valued at $27,375,000 after purchasing an additional 42,409 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in Trane Technologies by 4.6% in the fourth quarter. Victory Capital Management Inc. now owns 179,510 shares of the company’s stock worth $43,782,000 after purchasing an additional 7,874 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, SVP Keith A. Sultana sold 1,983 shares of the firm’s 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 transaction, the senior vice president now directly owns 42,575 shares in the company, valued at approximately $11,591,469.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Trane Technologies news, EVP Paul A. Camuti sold 508 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were 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 $24,449,442.98. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 transaction of $539,891.58. Following the transaction, the senior vice president now owns 42,575 shares in the company, valued at approximately $11,591,469.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,237 shares of company stock worth $8,024,534. 0.39% of the stock is owned by insiders.

Analysts Set New Price Targets

TT has been the subject of several recent research reports. Stephens raised their price objective on 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. lifted their price target on shares of Trane Technologies from $247.00 to $300.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. Robert W. Baird upped their price objective on shares of Trane Technologies from $315.00 to $344.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Citigroup lifted their target price 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. Finally, Mizuho upped their price target on Trane Technologies from $280.00 to $325.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $300.54.

Trane Technologies Stock Performance

Shares of TT opened at $325.89 on Wednesday. Trane Technologies plc has a 12 month low of $162.04 and a 12 month high of $327.47. The business’s fifty day simple moving average is $296.65 and its two-hundred day simple moving average is $259.66. The company has a current ratio of 1.13, a quick ratio of 0.74 and a debt-to-equity ratio of 0.58. The company has a market cap of $73.77 billion, a price-to-earnings ratio of 34.82, a P/E/G ratio of 2.54 and a beta of 1.01.

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

Trane Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be given 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 (DPR) 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.