Savvy Advisors Inc. Makes New $301,000 Investment in Trane Technologies plc (NYSE:TT)

Savvy Advisors Inc. acquired a new position in shares of Trane Technologies plc (NYSE:TT) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 814 shares of the company’s stock, valued at approximately $301,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Global Wealth Strategies & Associates acquired a new stake in Trane Technologies during the fourth quarter worth $26,000. Sound Income Strategies LLC lifted its holdings in shares of Trane Technologies by 1,314.3% during the 4th quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock worth $37,000 after acquiring an additional 92 shares during the period. Flagship Wealth Advisors LLC bought a new position in shares of Trane Technologies during the 4th quarter worth about $37,000. Golden State Wealth Management LLC acquired a new stake in shares of Trane Technologies during the 4th quarter valued at about $39,000. Finally, BankPlus Trust Department bought a new stake in Trane Technologies in the fourth quarter valued at about $45,000. 82.97% of the stock is currently owned by institutional investors.

Trane Technologies Trading Up 0.4 %

TT stock opened at $347.21 on Tuesday. The business has a fifty day moving average of $346.92 and a 200-day moving average of $376.13. The company has a market cap of $77.88 billion, a P/E ratio of 30.86, a PEG ratio of 2.50 and a beta of 1.08. Trane Technologies plc has a twelve month low of $286.32 and a twelve month high of $422.00. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58.

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

Trane Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend is Friday, June 6th. Trane Technologies’s payout ratio is 33.42%.

Wall Street Analysts Forecast Growth

TT has been the subject of a number of analyst reports. JPMorgan Chase & Co. cut their price target on shares of Trane Technologies from $396.00 to $323.00 and set a “neutral” rating for the company in a research note on Tuesday, April 8th. Melius lowered Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price target on the stock. in a research note on Tuesday, January 28th. Royal Bank of Canada increased their price objective on Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a research note on Friday, January 3rd. Melius Research restated a “hold” rating and issued a $398.00 target price on shares of Trane Technologies in a research note on Tuesday, January 28th. Finally, Citigroup lowered their target price on shares of Trane Technologies from $476.00 to $415.00 and set a “buy” rating on the stock in a report on Monday. 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $405.31.

Insider Activity

In related news, CFO Christopher J. Kuehn sold 770 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $358.39, for a total value of $275,960.30. Following the sale, the chief financial officer now directly owns 62,221 shares in the company, valued at $22,299,384.19. This trade represents a 1.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO David S. Regnery sold 2,754 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 132,969 shares of the company’s stock, valued at approximately $47,515,142.46. This represents a 2.03 % 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 in the last 90 days. 0.38% of the stock is owned by company insiders.

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.