MWA Asset Management Acquires 47 Shares of Trane Technologies plc (NYSE:TT)

MWA Asset Management boosted its holdings in shares of Trane Technologies plc (NYSE:TT) by 2.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,763 shares of the company’s stock after acquiring an additional 47 shares during the period. MWA Asset Management’s holdings in Trane Technologies were worth $651,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in TT. Tidal Investments LLC grew its position 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 buying an additional 2,874 shares during the period. 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 bought a new stake in Trane Technologies in the fourth quarter valued at approximately $468,000. HB Wealth Management LLC raised its holdings in Trane Technologies by 14.3% in the fourth quarter. HB Wealth Management LLC now owns 5,689 shares of the company’s stock worth $2,101,000 after purchasing an additional 711 shares during the period. Finally, GDS Wealth Management boosted its position in shares of Trane Technologies by 4.3% during the third quarter. GDS Wealth Management now owns 51,767 shares of the company’s stock worth $20,123,000 after purchasing an additional 2,124 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on TT shares. 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. Citigroup lowered their price target on Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a report on Monday, January 13th. Northcoast Research started coverage on Trane Technologies in a report on Friday, November 22nd. They set a “buy” rating and a $500.00 price objective on the stock. Hsbc Global Res cut Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Finally, Barclays lifted their price target on shares of Trane Technologies from $440.00 to $500.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. 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. According to data from MarketBeat, Trane Technologies has an average rating of “Hold” and a consensus target price of $415.25.

Trane Technologies Price Performance

Shares of NYSE TT opened at $356.07 on Friday. Trane Technologies plc has a fifty-two week low of $265.37 and a fifty-two week high of $422.00. The stock has a market capitalization of $80.12 billion, a price-to-earnings ratio of 31.65, a PEG ratio of 2.18 and a beta of 1.05. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88. The business has a 50-day moving average of $384.85 and a 200-day moving average of $376.96.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results 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 return on equity of 35.37% and a net margin of 12.94%. As a group, sell-side analysts predict that Trane Technologies plc will post 12.79 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

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

Insider Activity

In other Trane Technologies news, CFO Christopher J. Kuehn sold 876 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $357.42, for a total transaction of $313,099.92. Following the completion of the sale, the chief financial officer now owns 63,841 shares of the company’s stock, valued at $22,818,050.22. This trade represents a 1.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO David S. Regnery sold 2,754 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total transaction of $984,114.36. Following the completion of the transaction, the chief executive officer now owns 132,969 shares in the company, valued at approximately $47,515,142.46. This represents a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,157 shares of company stock valued at $3,168,885 in the last quarter. Company insiders own 0.38% of the company’s stock.

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.