Williams Jones Wealth Management LLC. Has $855,000 Position in Trane Technologies plc (NYSE:TT)

Williams Jones Wealth Management LLC. reduced its holdings in Trane Technologies plc (NYSE:TT) by 15.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,315 shares of the company’s stock after selling 412 shares during the quarter. Williams Jones Wealth Management LLC.’s holdings in Trane Technologies were worth $855,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ameritas Advisory Services LLC acquired a new stake in shares of Trane Technologies in the fourth quarter valued at about $468,000. Crossmark Global Holdings Inc. grew its position in Trane Technologies by 31.2% during the fourth quarter. Crossmark Global Holdings Inc. now owns 29,057 shares of the company’s stock worth $10,733,000 after buying an additional 6,910 shares in the last quarter. Stonegate Investment Group LLC grew its position in Trane Technologies by 11.9% during the fourth quarter. Stonegate Investment Group LLC now owns 15,378 shares of the company’s stock worth $5,680,000 after buying an additional 1,633 shares in the last quarter. U.S. Capital Wealth Advisors LLC grew its position in Trane Technologies by 1,490.3% during the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 19,417 shares of the company’s stock worth $7,172,000 after buying an additional 18,196 shares in the last quarter. Finally, Longboard Asset Management LP acquired a new stake in Trane Technologies during the fourth quarter worth about $257,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Trane Technologies Stock Performance

NYSE:TT opened at $429.78 on Wednesday. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $431.69. The firm has a 50 day moving average of $361.71 and a 200-day moving average of $374.22. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $95.85 billion, a P/E ratio of 38.20, a price-to-earnings-growth ratio of 2.50 and a beta of 1.14.

Trane Technologies (NYSE:TT) last posted its earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.20 by $0.25. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. The company had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.46 billion. During the same quarter in the previous year, the company posted $1.94 earnings per share. Trane Technologies’s quarterly revenue was up 11.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date is Friday, June 6th. Trane Technologies’s dividend payout ratio (DPR) is currently 31.28%.

Insider Activity

In related news, insider Donald E. Simmons sold 3,571 shares of the business’s stock in a transaction that occurred on Wednesday, April 30th. The shares were 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 in the company, valued at $1,365,340. The trade was a 49.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.38% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Melius downgraded Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 target price on the stock. in a research report on Tuesday, January 28th. Robert W. Baird lifted their target price on Trane Technologies from $360.00 to $396.00 and gave the stock a “neutral” rating in a research report on Thursday, May 1st. Royal Bank of Canada lifted their target price on Trane Technologies from $363.00 to $408.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 1st. Melius Research reaffirmed a “hold” rating and set a $398.00 price objective on shares of Trane Technologies in a report on Tuesday, January 28th. Finally, UBS Group decreased their price objective on Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $425.47.

About Trane Technologies

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.