EPG Wealth Management LLC Reduces Stock Position in Trane Technologies plc (NYSE:TT)

EPG Wealth Management LLC lessened its holdings in shares of Trane Technologies plc (NYSE:TT) by 5.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 702 shares of the company’s stock after selling 38 shares during the period. EPG Wealth Management LLC’s holdings in Trane Technologies were worth $259,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of TT. Vanguard Group Inc. lifted its stake in Trane Technologies by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 19,235,570 shares of the company’s stock worth $7,104,658,000 after acquiring an additional 152,353 shares during the period. Geode Capital Management LLC grew its stake in Trane Technologies by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 4,775,263 shares of the company’s stock worth $1,760,549,000 after purchasing an additional 136,349 shares during the period. Ameriprise Financial Inc. raised its holdings in Trane Technologies by 4.1% in the fourth quarter. Ameriprise Financial Inc. now owns 3,343,390 shares of the company’s stock worth $1,234,908,000 after purchasing an additional 130,867 shares in the last quarter. Norges Bank bought a new stake in shares of Trane Technologies during the 4th quarter valued at $1,117,816,000. Finally, Northern Trust Corp grew its position in shares of Trane Technologies by 20.1% in the 4th quarter. Northern Trust Corp now owns 2,567,527 shares of the company’s stock worth $948,316,000 after buying an additional 429,953 shares during the period. Institutional investors own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on TT. JPMorgan Chase & Co. boosted their price objective on shares of Trane Technologies from $323.00 to $334.00 and gave the stock a “neutral” rating in a research note on Thursday, May 1st. Melius downgraded 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. Barclays lowered their price objective on Trane Technologies from $500.00 to $475.00 and set an “overweight” rating for the company in a research note on Monday, March 10th. Robert W. Baird increased their target price on Trane Technologies from $360.00 to $396.00 and gave the stock a “neutral” rating in a research note on Thursday, May 1st. Finally, Melius Research reaffirmed a “hold” rating and issued a $398.00 price target on shares of Trane Technologies in a research report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Trane Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $421.07.

Insider Activity

In other news, insider Donald E. Simmons sold 3,571 shares of the company’s stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $380.00, for a total value of $1,356,980.00. Following the completion of the transaction, the insider now owns 3,593 shares of the company’s stock, valued at $1,365,340. This represents a 49.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Evan M. Turtz sold 318 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $358.12, for a total value of $113,882.16. Following the completion of the transaction, the senior vice president now directly owns 20,513 shares in the company, valued at approximately $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 sold a total of 6,977 shares of company stock valued at $2,577,061 in the last 90 days. Company insiders own 0.38% of the company’s stock.

Trane Technologies Price Performance

Shares of TT opened at $406.59 on Thursday. 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 plc has a 1-year low of $298.15 and a 1-year high of $422.00. The firm has a market cap of $90.68 billion, a PE ratio of 36.14, a P/E/G ratio of 2.50 and a beta of 1.14. The firm has a fifty day simple moving average of $347.60 and a two-hundred day simple moving average of $372.33.

Trane Technologies (NYSE:TT) last announced its earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $0.25. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. The business had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $4.46 billion. During the same period last year, the firm posted $1.94 earnings per share. The business’s revenue for the quarter was up 11.2% on a year-over-year basis. On average, equities analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 0.92%. The ex-dividend date is Friday, June 6th. Trane Technologies’s dividend payout ratio is presently 31.28%.

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.