Consolidated Planning Corp Boosts Stock Position in Trane Technologies plc (NYSE:TT)

Consolidated Planning Corp raised its position in shares of Trane Technologies plc (NYSE:TT) by 8.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 14,252 shares of the company’s stock after buying an additional 1,091 shares during the quarter. Consolidated Planning Corp’s holdings in Trane Technologies were worth $5,264,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of TT. Tidal Investments LLC boosted its stake in Trane Technologies by 22.2% in the third quarter. Tidal Investments LLC now owns 15,827 shares of the company’s stock valued at $6,152,000 after acquiring an additional 2,874 shares in the last quarter. Synovus Financial Corp lifted its holdings in shares of Trane Technologies by 16.8% during the 3rd 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 last quarter. Ameritas Advisory Services LLC acquired a new stake in shares of Trane Technologies in the 4th quarter worth $468,000. HB Wealth Management LLC grew its stake in Trane Technologies by 14.3% during the 4th quarter. HB Wealth Management LLC now owns 5,689 shares of the company’s stock worth $2,101,000 after buying an additional 711 shares during the last quarter. Finally, GDS Wealth Management increased its position in Trane Technologies by 4.3% during the 3rd quarter. GDS Wealth Management now owns 51,767 shares of the company’s stock valued at $20,123,000 after buying an additional 2,124 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors.

Insider Activity

In related news, SVP Evan M. Turtz sold 318 shares of Trane Technologies stock in a transaction on Monday, February 10th. The shares were sold at an average price of $358.12, for a total value of $113,882.16. Following the sale, the senior vice president now owns 20,513 shares of the company’s stock, valued at approximately $7,346,115.56. This trade represents a 1.53 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David S. Regnery sold 2,318 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $358.17, for a total transaction of $830,238.06. Following the transaction, the chief executive officer now owns 126,831 shares of the company’s stock, valued at $45,427,059.27. This represents a 1.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,563 shares of company stock worth $4,388,966 in the last ninety days. Company insiders own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on TT. Wells Fargo & Company lowered 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. Melius Research reissued a “hold” rating and set a $398.00 target price on shares of Trane Technologies in a research report on Tuesday, January 28th. UBS Group cut their price target on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Robert W. Baird lowered their price objective on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Finally, Northcoast Research initiated coverage on Trane Technologies in a research report on Friday, November 22nd. They issued a “buy” rating and a $500.00 target price on the stock. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $415.25.

Trane Technologies Stock Down 0.8 %

Shares of TT stock opened at $361.80 on Thursday. Trane Technologies plc has a twelve month low of $265.37 and a twelve month high of $422.00. The stock has a market cap of $81.41 billion, a P/E ratio of 32.16, a P/E/G ratio of 2.44 and a beta of 1.05. The stock has a 50 day moving average of $381.60 and a 200 day moving average of $378.14. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58.

Trane Technologies (NYSE:TT) last posted its earnings results on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, beating 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, sell-side analysts expect that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be paid a dividend of $0.94 per share. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 annualized dividend and a dividend yield of 1.04%. The ex-dividend date is Friday, March 7th. Trane Technologies’s dividend payout ratio is presently 29.87%.

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.