Focus Partners Wealth Has $4.02 Million Stock Position in Trane Technologies plc (NYSE:TT)

Focus Partners Wealth raised its holdings in Trane Technologies plc (NYSE:TT) by 28.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,887 shares of the company’s stock after buying an additional 2,412 shares during the quarter. Focus Partners Wealth’s holdings in Trane Technologies were worth $4,021,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Sound Income Strategies LLC grew its holdings in shares of Trane Technologies by 1,314.3% during the 4th quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock worth $37,000 after purchasing an additional 92 shares in the last quarter. Flagship Wealth Advisors LLC acquired a new stake in shares of Trane Technologies during the 4th quarter worth approximately $37,000. Golden State Wealth Management LLC acquired a new stake in shares of Trane Technologies during the 4th quarter worth approximately $39,000. BankPlus Trust Department acquired a new stake in shares of Trane Technologies during the 4th quarter worth approximately $45,000. Finally, Centricity Wealth Management LLC acquired a new stake in shares of Trane Technologies during the 4th quarter worth approximately $55,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Melius lowered Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price objective on the stock. in a report on Tuesday, January 28th. HSBC raised Trane Technologies from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $405.00 to $415.00 in a report on Friday, April 25th. Melius Research reaffirmed a “hold” rating and issued a $398.00 price target on shares of Trane Technologies in a research note on Tuesday, January 28th. Barclays decreased their price target on Trane Technologies from $500.00 to $475.00 and set an “overweight” rating on the stock in a research note on Monday, March 10th. Finally, Robert W. Baird boosted their price target on Trane Technologies from $360.00 to $396.00 and gave the company a “neutral” rating in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Trane Technologies has an average rating of “Moderate Buy” and an average price target of $421.07.

Trane Technologies Trading Down 0.6%

Shares of TT opened at $419.16 on Thursday. The stock has a fifty day moving average price of $354.49 and a two-hundred day moving average price of $372.98. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21. Trane Technologies plc has a 52-week low of $298.15 and a 52-week high of $424.46. The company has a market cap of $93.48 billion, a price-to-earnings ratio of 37.26, a PEG ratio of 2.50 and a beta of 1.14.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $0.25. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. The firm had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.46 billion. During the same quarter in the previous year, the company posted $1.94 EPS. The business’s revenue for the quarter was up 11.2% compared to the same quarter last year. Analysts predict 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 given a dividend of $0.94 per share. The ex-dividend date is Friday, June 6th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.90%. Trane Technologies’s payout ratio is currently 31.28%.

Insider Transactions at Trane Technologies

In other news, insider Donald E. Simmons sold 3,571 shares of the business’s stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $380.00, for a total transaction of $1,356,980.00. Following the completion of the sale, the insider now owns 3,593 shares in the company, valued at $1,365,340. The trade was a 49.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.38% of the stock is currently owned by corporate 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.