OneAscent Financial Services LLC Increases Position in Trane Technologies plc (NYSE:TT)

OneAscent Financial Services LLC increased its holdings in Trane Technologies plc (NYSE:TT) by 13.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 2,567 shares of the company’s stock after buying an additional 305 shares during the period. OneAscent Financial Services LLC’s holdings in Trane Technologies were worth $948,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Tidal Investments LLC increased its stake in shares of Trane Technologies by 22.2% during the 3rd quarter. Tidal Investments LLC now owns 15,827 shares of the company’s stock worth $6,152,000 after purchasing an additional 2,874 shares during the last quarter. Synovus Financial Corp grew its holdings in Trane Technologies by 16.8% during the third quarter. Synovus Financial Corp now owns 8,828 shares of the company’s stock valued at $3,431,000 after purchasing an additional 1,271 shares during the period. Ameritas Advisory Services LLC purchased a new stake in Trane Technologies in the fourth quarter worth $468,000. HB Wealth Management LLC raised its stake in shares of Trane Technologies by 14.3% in the fourth quarter. HB Wealth Management LLC now owns 5,689 shares of the company’s stock valued at $2,101,000 after buying an additional 711 shares during the period. Finally, Crossmark Global Holdings Inc. lifted its position in shares of Trane Technologies by 31.2% during the 4th quarter. Crossmark Global Holdings Inc. now owns 29,057 shares of the company’s stock valued at $10,733,000 after buying an additional 6,910 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Trane Technologies

In other news, CEO David S. Regnery sold 2,318 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $358.17, for a total value of $830,238.06. Following the completion of the sale, the chief executive officer now directly owns 126,831 shares in the company, valued at approximately $45,427,059.27. The trade was a 1.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Christopher J. Kuehn sold 770 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $358.39, for a total transaction of $275,960.30. Following the transaction, the chief financial officer now directly owns 62,221 shares in the company, valued at approximately $22,299,384.19. This represents a 1.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,234 shares of company stock valued at $2,588,102 over the last 90 days. 0.38% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Melius cut Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price objective on the stock. in a research note on Tuesday, January 28th. Barclays lowered their price target on shares of Trane Technologies from $500.00 to $475.00 and set an “overweight” rating on the stock in a research report on Monday, March 10th. UBS Group cut their price objective on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a report on Friday, January 31st. Melius Research reissued a “hold” rating and set a $398.00 target price on shares of Trane Technologies in a report on Tuesday, January 28th. Finally, Wells Fargo & Company cut their price target on Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $413.69.

Trane Technologies Price Performance

Shares of NYSE TT opened at $348.45 on Thursday. The firm has a market capitalization of $78.15 billion, a P/E ratio of 30.97, a P/E/G ratio of 2.50 and a beta of 1.08. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. The stock’s 50-day simple moving average is $354.67 and its two-hundred day simple moving average is $379.61. Trane Technologies plc has a twelve month low of $286.32 and a twelve month high of $422.00.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, topping the consensus estimate of $2.52 by $0.09. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. As a group, equities analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 7th were given a $0.94 dividend. The ex-dividend date was Friday, March 7th. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 annualized dividend and a yield of 1.08%. Trane Technologies’s payout ratio is 33.42%.

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.