LeClair Wealth Partners LLC Trims Stock Position in Trane Technologies plc $TT

LeClair Wealth Partners LLC trimmed its holdings in Trane Technologies plc (NYSE:TT) by 40.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,786 shares of the company’s stock after selling 1,236 shares during the period. LeClair Wealth Partners LLC’s holdings in Trane Technologies were worth $754,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. King Luther Capital Management Corp grew its holdings in Trane Technologies by 1.3% in the second quarter. King Luther Capital Management Corp now owns 1,942 shares of the company’s stock valued at $849,000 after purchasing an additional 24 shares during the period. Old Port Advisors boosted its holdings in shares of Trane Technologies by 3.2% in the 3rd quarter. Old Port Advisors now owns 778 shares of the company’s stock valued at $328,000 after purchasing an additional 24 shares during the last quarter. OneAscent Wealth Management LLC boosted its holdings in shares of Trane Technologies by 1.5% in the 3rd quarter. OneAscent Wealth Management LLC now owns 1,627 shares of the company’s stock valued at $686,000 after purchasing an additional 24 shares during the last quarter. Bridgewater Advisors Inc. grew its stake in shares of Trane Technologies by 3.7% during the 3rd quarter. Bridgewater Advisors Inc. now owns 670 shares of the company’s stock valued at $285,000 after buying an additional 24 shares during the period. Finally, West Family Investments Inc. increased its holdings in shares of Trane Technologies by 2.3% during the 3rd quarter. West Family Investments Inc. now owns 1,072 shares of the company’s stock worth $452,000 after buying an additional 24 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Trading Down 0.7%

NYSE TT opened at $456.65 on Friday. The stock has a market cap of $101.07 billion, a P/E ratio of 35.18, a PEG ratio of 2.42 and a beta of 1.21. The company’s fifty day simple moving average is $416.24 and its 200-day simple moving average is $416.48. The company has a current ratio of 1.25, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $479.37.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Thursday, January 29th. The company reported $2.86 EPS for the quarter, topping analysts’ consensus estimates of $2.81 by $0.05. The firm had revenue of $5.14 billion for the quarter, compared to analyst estimates of $5.09 billion. Trane Technologies had a net margin of 13.69% and a return on equity of 36.34%. The firm’s revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.61 EPS. Equities research analysts predict that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 6th will be paid a dividend of $1.05 per share. This is a boost from Trane Technologies’s previous quarterly dividend of $0.94. The ex-dividend date is Friday, March 6th. This represents a $4.20 dividend on an annualized basis and a yield of 0.9%. Trane Technologies’s payout ratio is 28.97%.

Analyst Ratings Changes

TT has been the topic of a number of research analyst reports. KeyCorp upgraded Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 target price on the stock in a report on Monday, December 15th. Citigroup raised their price objective on Trane Technologies from $513.00 to $525.00 and gave the stock a “buy” rating in a report on Friday, January 30th. UBS Group reduced their price objective on Trane Technologies from $544.00 to $520.00 and set a “buy” rating on the stock in a research note on Monday, January 5th. JPMorgan Chase & Co. increased their target price on shares of Trane Technologies from $434.00 to $460.00 and gave the stock a “neutral” rating in a research report on Friday, January 30th. Finally, Morgan Stanley cut their price target on shares of Trane Technologies from $550.00 to $535.00 and set an “overweight” rating on the stock in a report on Tuesday, January 13th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Trane Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $484.67.

Insiders Place Their Bets

In other news, CAO Elizabeth A. Elwell sold 137 shares of the firm’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $462.48, for a total transaction of $63,359.76. Following the completion of the sale, the chief accounting officer owned 7,100 shares of the company’s stock, valued at approximately $3,283,608. This trade represents a 1.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Donald E. Simmons sold 822 shares of the stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $462.57, for a total transaction of $380,232.54. Following the transaction, the insider owned 3,819 shares in the company, valued at $1,766,554.83. This trade represents a 17.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 8,936 shares of company stock valued at $4,133,991 over the last 90 days. 0.14% of the stock is owned by company insiders.

Trane Technologies Profile

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.