1,454 Shares in Trane Technologies plc $TT Purchased by MOR Wealth Management LLC

MOR Wealth Management LLC bought a new stake in Trane Technologies plc (NYSE:TT) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,454 shares of the company’s stock, valued at approximately $566,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TT. Brighton Jones LLC boosted its stake in shares of Trane Technologies by 60.0% during the 4th quarter. Brighton Jones LLC now owns 6,194 shares of the company’s stock valued at $2,288,000 after buying an additional 2,323 shares during the period. Sivia Capital Partners LLC grew its stake in Trane Technologies by 22.4% in the second quarter. Sivia Capital Partners LLC now owns 1,665 shares of the company’s stock valued at $728,000 after purchasing an additional 305 shares in the last quarter. Schnieders Capital Management LLC. acquired a new position in Trane Technologies in the 2nd quarter worth about $227,000. Laurel Wealth Advisors LLC raised its stake in shares of Trane Technologies by 43,700.0% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 438 shares of the company’s stock worth $192,000 after purchasing an additional 437 shares in the last quarter. Finally, Scotia Capital Inc. lifted its holdings in shares of Trane Technologies by 2.7% during the 2nd quarter. Scotia Capital Inc. now owns 10,021 shares of the company’s stock valued at $4,382,000 after buying an additional 261 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Stock Performance

NYSE:TT opened at $410.32 on Monday. The firm has a market capitalization of $90.82 billion, a PE ratio of 31.61, a PEG ratio of 2.16 and a beta of 1.19. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $479.37. The company has a current ratio of 1.25, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. The firm’s fifty day simple moving average is $433.62 and its 200 day simple moving average is $417.64.

Trane Technologies (NYSE:TT) last released its earnings results on Thursday, January 29th. The company reported $2.86 earnings per share for the quarter, topping analysts’ consensus estimates of $2.81 by $0.05. Trane Technologies had a net margin of 13.69% and a return on equity of 36.34%. The firm had revenue of $5.14 billion during the quarter, compared to analyst estimates of $5.09 billion. During the same quarter in the previous year, the business earned $2.61 EPS. The business’s revenue was up 5.6% on a year-over-year basis. On average, sell-side analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 6th will be given a dividend of $1.05 per share. The ex-dividend date of this dividend is Friday, March 6th. This represents a $4.20 annualized dividend and a dividend yield of 1.0%. This is a boost from Trane Technologies’s previous quarterly dividend of $0.94. Trane Technologies’s payout ratio is presently 32.36%.

Insiders Place Their Bets

In other news, insider Donald E. Simmons sold 3,762 shares of the firm’s stock in a transaction on Friday, March 6th. The shares were sold at an average price of $422.70, for a total value of $1,590,197.40. Following the sale, the insider owned 3,819 shares in the company, valued at approximately $1,614,291.30. This trade represents a 49.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Elizabeth A. Elwell sold 635 shares of the company’s stock in a transaction on Friday, March 6th. The shares were sold at an average price of $422.70, for a total transaction of $268,414.50. Following the transaction, the chief accounting officer owned 7,100 shares of the company’s stock, valued at approximately $3,001,170. The trade was a 8.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 49,378 shares of company stock worth $21,228,464 in the last 90 days. 0.14% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on TT. Barclays increased their price objective on Trane Technologies from $505.00 to $507.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. Melius Research raised shares of Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 target price for the company in a research report on Wednesday, January 7th. UBS Group cut their price target on shares of Trane Technologies from $544.00 to $520.00 and set a “buy” rating on the stock in a report on Monday, January 5th. Citigroup upped their price objective on shares of Trane Technologies from $513.00 to $525.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Trane Technologies in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $484.67.

About Trane Technologies

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.