Confluence Wealth Services Inc. Increases Stock Holdings in Trane Technologies plc (NYSE:TT)

Confluence Wealth Services Inc. grew its holdings in Trane Technologies plc (NYSE:TT) by 8.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,989 shares of the company’s stock after acquiring an additional 326 shares during the quarter. Confluence Wealth Services Inc.’s holdings in Trane Technologies were worth $1,597,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of TT. Massachusetts Wealth Management boosted its stake in Trane Technologies by 2.0% in the 4th quarter. Massachusetts Wealth Management now owns 6,390 shares of the company’s stock worth $2,360,000 after purchasing an additional 125 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Trane Technologies by 37.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 33,417 shares of the company’s stock worth $12,448,000 after buying an additional 9,093 shares during the last quarter. Stratos Wealth Partners LTD. lifted its stake in shares of Trane Technologies by 0.5% during the fourth quarter. Stratos Wealth Partners LTD. now owns 5,538 shares of the company’s stock worth $2,046,000 after buying an additional 29 shares during the period. Yousif Capital Management LLC grew its holdings in shares of Trane Technologies by 1.3% during the fourth quarter. Yousif Capital Management LLC now owns 29,496 shares of the company’s stock valued at $10,894,000 after buying an additional 381 shares during the last quarter. Finally, Old North State Wealth Management LLC raised its stake in Trane Technologies by 12.1% in the 4th quarter. Old North State Wealth Management LLC now owns 1,245 shares of the company’s stock worth $461,000 after acquiring an additional 134 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Performance

NYSE TT opened at $355.41 on Wednesday. The stock has a market capitalization of $79.97 billion, a price-to-earnings ratio of 31.59, a PEG ratio of 2.18 and a beta of 1.05. The stock has a 50-day moving average of $387.21 and a 200 day moving average of $377.24. 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 twelve month low of $265.37 and a twelve month high of $422.00.

Trane Technologies (NYSE:TT) last announced 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 return on equity of 35.37% and a net margin of 12.94%. Sell-side analysts anticipate that Trane Technologies plc will post 12.79 EPS for the current fiscal year.

Trane Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be paid a $0.94 dividend. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 dividend on an annualized basis and a yield of 1.06%. Trane Technologies’s dividend payout ratio (DPR) is currently 29.87%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Citigroup dropped their price target on Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Royal Bank of Canada increased their price target on shares of Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a report on Friday, January 3rd. Mizuho lifted their price objective on shares of Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Hsbc Global Res downgraded shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Finally, Wells Fargo & Company reduced their target price on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $415.25.

Insider Buying and Selling

In other Trane Technologies news, SVP Mairead Magner sold 4,329 shares of Trane Technologies stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the sale, the senior vice president now owns 12,893 shares of the company’s stock, valued at $5,363,488. The trade was a 25.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.38% of the stock is currently owned by insiders.

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.