NewEdge Wealth LLC Has $1.07 Million Stock Holdings in Trane Technologies plc (NYSE:TT)

NewEdge Wealth LLC reduced its stake in Trane Technologies plc (NYSE:TT) by 7.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,890 shares of the company’s stock after selling 247 shares during the period. NewEdge Wealth LLC’s holdings in Trane Technologies were worth $1,067,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of TT. Swedbank AB increased its position in shares of Trane Technologies by 2.8% during the 3rd quarter. Swedbank AB now owns 743,794 shares of the company’s stock worth $289,135,000 after purchasing an additional 20,400 shares in the last quarter. Gladstone Institutional Advisory LLC acquired a new stake in shares of Trane Technologies during the third quarter worth approximately $632,000. Farther Finance Advisors LLC raised its stake in shares of Trane Technologies by 34.0% in the third quarter. Farther Finance Advisors LLC now owns 2,716 shares of the company’s stock valued at $1,056,000 after acquiring an additional 689 shares during the last quarter. Chicago Partners Investment Group LLC boosted its holdings in shares of Trane Technologies by 7.1% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 2,782 shares of the company’s stock worth $1,101,000 after acquiring an additional 185 shares in the last quarter. Finally, Prossimo Advisors LLC grew its position in Trane Technologies by 5.3% during the 3rd quarter. Prossimo Advisors LLC now owns 4,431 shares of the company’s stock worth $1,722,000 after acquiring an additional 225 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Trane Technologies

In other news, SVP Mairead Magner sold 198 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total transaction of $70,806.78. Following the completion of the sale, the senior vice president now owns 13,401 shares of the company’s stock, valued at $4,792,331.61. This represents a 1.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Evan M. Turtz sold 318 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $358.12, for a total transaction of $113,882.16. Following the completion of the sale, the senior vice president now directly owns 20,513 shares in the company, valued at $7,346,115.56. This represents a 1.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,563 shares of company stock valued at $4,388,966 over the last 90 days. 0.38% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on TT shares. UBS Group reduced their price objective on Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. JPMorgan Chase & Co. upped their price target on shares of Trane Technologies from $387.00 to $396.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Melius cut shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price objective for the company. in a research report on Tuesday, January 28th. Wells Fargo & Company dropped their target price on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a research note on Friday, January 31st. Finally, Barclays raised their price target on shares of Trane Technologies from $440.00 to $500.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $415.25.

Trane Technologies Stock Performance

Shares of NYSE:TT opened at $354.22 on Monday. The company has a market capitalization of $79.45 billion, a price-to-earnings ratio of 31.49, a P/E/G ratio of 2.50 and a beta of 1.05. The firm’s 50 day simple moving average is $371.26 and its 200 day simple moving average is $380.69. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88. Trane Technologies plc has a fifty-two week low of $279.00 and a fifty-two week high of $422.00.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, topping analysts’ consensus estimates 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, sell-side analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be issued a $0.94 dividend. This is an increase from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 annualized dividend and a dividend yield of 1.06%. The ex-dividend date of this dividend is Friday, March 7th. Trane Technologies’s dividend payout ratio is 29.87%.

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.