Diversify Wealth Management LLC Makes New $1.46 Million Investment in Trane Technologies plc $TT

Diversify Wealth Management LLC bought a new position in shares of Trane Technologies plc (NYSE:TT) during the first quarter, HoldingsChannel reports. The institutional investor bought 3,510 shares of the company’s stock, valued at approximately $1,463,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Tucker Asset Management LLC bought a new position in Trane Technologies in the fourth quarter worth approximately $25,000. JPL Wealth Management LLC bought a new stake in Trane Technologies during the 3rd quarter valued at $32,000. Physician Wealth Advisors Inc. raised its position in Trane Technologies by 192.6% during the 1st quarter. Physician Wealth Advisors Inc. now owns 79 shares of the company’s stock valued at $33,000 after purchasing an additional 52 shares in the last quarter. Hilton Head Capital Partners LLC purchased a new stake in shares of Trane Technologies in the 4th quarter worth $32,000. Finally, Kemnay Advisory Services Inc. purchased a new stake in shares of Trane Technologies in the 4th quarter worth $34,000. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Up 0.7%

Shares of NYSE TT opened at $483.42 on Wednesday. Trane Technologies plc has a 12-month low of $348.06 and a 12-month high of $505.87. The stock’s fifty day simple moving average is $469.89 and its two-hundred day simple moving average is $445.63. The stock has a market capitalization of $106.86 billion, a PE ratio of 37.39, a price-to-earnings-growth ratio of 2.21 and a beta of 1.19. The company has a current ratio of 1.10, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Friday, May 1st. The company reported $2.63 EPS for the quarter, topping the consensus estimate of $2.53 by $0.10. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The firm had revenue of $4.97 billion during the quarter, compared to analyst estimates of $4.81 billion. During the same period in the previous year, the company posted $2.45 EPS. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, analysts expect that Trane Technologies plc will post 14.89 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, September 4th will be issued a $1.05 dividend. The ex-dividend date is Friday, September 4th. This represents a $4.20 dividend on an annualized basis and a yield of 0.9%. Trane Technologies’s payout ratio is currently 32.48%.

Wall Street Analyst Weigh In

TT has been the topic of several research reports. Weiss Ratings restated a “buy (b)” rating on shares of Trane Technologies in a research note on Monday, April 20th. Royal Bank Of Canada upped their price objective on shares of Trane Technologies from $440.00 to $501.00 and gave the stock a “sector perform” rating in a research note on Friday, May 1st. BNP Paribas Exane began coverage on shares of Trane Technologies in a report on Tuesday, April 14th. They set an “outperform” rating and a $550.00 target price on the stock. KeyCorp raised their target price on shares of Trane Technologies from $525.00 to $555.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Finally, Sanford C. Bernstein set a $555.00 price target on shares of Trane Technologies in a report on Thursday, July 9th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $512.50.

Insider Activity at Trane Technologies

In other Trane Technologies news, insider Donald E. Simmons sold 4,593 shares of the stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $500.00, for a total transaction of $2,296,500.00. Following the completion of the sale, the insider directly owned 3,819 shares of the company’s stock, valued at approximately $1,909,500. This represents a 54.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.43% of the company’s stock.

About Trane Technologies

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.