Axxcess Wealth Management LLC Has $534,000 Stake in Trane Technologies plc (NYSE:TT)

Axxcess Wealth Management LLC increased its position in shares of Trane Technologies plc (NYSE:TT) by 176.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,445 shares of the company’s stock after purchasing an additional 922 shares during the period. Axxcess Wealth Management LLC’s holdings in Trane Technologies were worth $534,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Flagship Wealth Advisors LLC bought a new position in shares of Trane Technologies during the fourth quarter worth approximately $37,000. Terra Alpha Investments LLC bought a new position in Trane Technologies during the 4th quarter worth $4,393,000. Parallel Advisors LLC raised its holdings in Trane Technologies by 5.8% in the 4th quarter. Parallel Advisors LLC now owns 2,918 shares of the company’s stock valued at $1,078,000 after acquiring an additional 161 shares in the last quarter. Cibc World Markets Corp lifted its position in shares of Trane Technologies by 15.8% during the 4th quarter. Cibc World Markets Corp now owns 35,515 shares of the company’s stock valued at $13,117,000 after acquiring an additional 4,844 shares during the period. Finally, Twin Tree Management LP acquired a new stake in shares of Trane Technologies during the 4th quarter worth $424,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Wells Fargo & Company cut their price objective on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a research report on Friday, January 31st. Melius lowered shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price target on the stock. in a research report on Tuesday, January 28th. UBS Group decreased their price objective on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Melius Research reaffirmed a “hold” rating and issued a $398.00 target price on shares of Trane Technologies in a report on Tuesday, January 28th. Finally, Northcoast Research started coverage on Trane Technologies in a research note on Friday, November 22nd. They issued a “buy” rating and a $500.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $413.69.

Insider Buying and Selling

In other news, SVP Evan M. Turtz sold 318 shares of Trane Technologies stock in a transaction dated 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 of the company’s stock, valued at approximately $7,346,115.56. This trade represents a 1.53 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Mairead Magner sold 198 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total value of $70,806.78. Following the sale, the senior vice president now owns 13,401 shares in the company, valued at approximately $4,792,331.61. The trade was a 1.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,234 shares of company stock valued at $2,588,102 over the last ninety days. 0.38% of the stock is owned by company insiders.

Trane Technologies Stock Down 0.6 %

Shares of NYSE TT opened at $347.30 on Friday. The company has a 50 day simple moving average of $361.24 and a 200 day simple moving average of $379.52. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88. Trane Technologies plc has a 1 year low of $286.32 and a 1 year high of $422.00. The firm has a market cap of $77.90 billion, a PE ratio of 30.87, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.52 by $0.09. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. On average, research analysts forecast that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.08%. This is an increase from Trane Technologies’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Friday, March 7th. Trane Technologies’s dividend payout ratio (DPR) is 33.42%.

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.