Global Wealth Strategies & Associates Invests $26,000 in Trane Technologies plc (NYSE:TT)

Global Wealth Strategies & Associates bought a new position in Trane Technologies plc (NYSE:TT) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 70 shares of the company’s stock, valued at approximately $26,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. FMR LLC lifted its holdings in shares of Trane Technologies by 4.0% during the third quarter. FMR LLC now owns 10,337,672 shares of the company’s stock valued at $4,018,563,000 after acquiring an additional 397,537 shares during the period. State Street Corp boosted its position in Trane Technologies by 0.8% in the third quarter. State Street Corp now owns 9,769,161 shares of the company’s stock valued at $3,797,565,000 after buying an additional 77,830 shares in the last quarter. Geode Capital Management LLC grew its stake in Trane Technologies by 1.4% during the third quarter. Geode Capital Management LLC now owns 4,638,914 shares of the company’s stock worth $1,797,700,000 after buying an additional 65,991 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Trane Technologies by 35.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,550,511 shares of the company’s stock worth $991,460,000 after buying an additional 671,691 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Trane Technologies by 0.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,142,081 shares of the company’s stock valued at $832,691,000 after acquiring an additional 20,151 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling

In other news, SVP Mairead Magner sold 4,329 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $416.00, for a total value of $1,800,864.00. Following the completion of the transaction, the senior vice president now owns 12,893 shares in the company, valued at $5,363,488. This represents a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.38% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on TT. Mizuho raised their price target on Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. HSBC cut Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price target for the company. in a report on Thursday, October 31st. Morgan Stanley initiated coverage on shares of Trane Technologies in a research report on Friday, September 6th. They issued an “overweight” rating and a $425.00 price objective for the company. Robert W. Baird reduced their target price on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Finally, Hsbc Global Res lowered shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $409.93.

Trane Technologies Trading Up 0.9 %

TT traded up $3.23 during midday trading on Thursday, reaching $372.58. 682,211 shares of the company were exchanged, compared to its average volume of 1,115,477. The stock has a market capitalization of $83.84 billion, a P/E ratio of 34.56, a PEG ratio of 2.38 and a beta of 1.03. Trane Technologies plc has a one year low of $233.76 and a one year high of $422.00. The stock’s 50-day simple moving average is $397.09 and its 200 day simple moving average is $369.43. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.92 and a current ratio of 1.22.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 earnings per share for the quarter, topping the consensus estimate of $3.23 by $0.14. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The business had revenue of $5.44 billion for the quarter, compared to analyst estimates of $5.32 billion. During the same quarter last year, the firm earned $2.79 EPS. Trane Technologies’s quarterly revenue was up 10.0% compared to the same quarter last year. As a group, analysts forecast that Trane Technologies plc will post 11.13 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 6th were given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend was Friday, December 6th. Trane Technologies’s dividend payout ratio is currently 31.17%.

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.