Spire Wealth Management Has $1.80 Million Stock Position in Trane Technologies plc (NYSE:TT)

Spire Wealth Management lessened its stake in Trane Technologies plc (NYSE:TT) by 10.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,484 shares of the company’s stock after selling 633 shares during the quarter. Spire Wealth Management’s holdings in Trane Technologies were worth $1,804,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in TT. International Assets Investment Management LLC raised its position in Trane Technologies by 1.6% in the 4th quarter. International Assets Investment Management LLC now owns 4,241 shares of the company’s stock valued at $1,034,000 after buying an additional 65 shares during the last quarter. Savant Capital LLC lifted its position in shares of Trane Technologies by 70.5% in the fourth quarter. Savant Capital LLC now owns 5,383 shares of the company’s stock worth $1,313,000 after purchasing an additional 2,226 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Trane Technologies by 4.6% during the fourth quarter. Victory Capital Management Inc. now owns 179,510 shares of the company’s stock worth $43,782,000 after purchasing an additional 7,874 shares during the last quarter. Great Valley Advisor Group Inc. bought a new position in Trane Technologies in the fourth quarter valued at $203,000. Finally, Wilbanks Smith & Thomas Asset Management LLC bought a new stake in Trane Technologies during the 4th quarter worth about $205,000. Institutional investors own 82.97% of the company’s stock.

Insider Transactions at Trane Technologies

In related news, EVP Raymond D. Pittard sold 1,805 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total transaction of $593,213.25. Following the sale, the executive vice president now owns 83,517 shares in the company, valued at approximately $27,447,862.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Christopher J. Kuehn sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $318.67, for a total value of $1,274,680.00. Following the sale, the chief financial officer now directly owns 61,293 shares in the company, valued at approximately $19,532,240.31. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Raymond D. Pittard sold 1,805 shares of Trane Technologies stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total transaction of $593,213.25. Following the sale, the executive vice president now directly owns 83,517 shares in the company, valued at $27,447,862.05. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,243 shares of company stock valued at $14,216,550. 0.38% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on TT. UBS Group lifted their target price on Trane Technologies from $330.00 to $375.00 and gave the company a “buy” rating in a research report on Monday, June 3rd. Barclays upped their price objective on Trane Technologies from $385.00 to $394.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Royal Bank of Canada raised their target price on shares of Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a research note on Thursday, August 1st. Stephens restated an “equal weight” rating and set a $350.00 target price on shares of Trane Technologies in a report on Monday, August 5th. Finally, Robert W. Baird lifted their price objective on shares of Trane Technologies from $360.00 to $365.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Trane Technologies currently has a consensus rating of “Hold” and a consensus price target of $323.29.

Trane Technologies Stock Performance

TT traded up $6.64 during trading on Friday, hitting $361.66. The stock had a trading volume of 2,192,458 shares, compared to its average volume of 1,020,909. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.17 and a quick ratio of 0.84. The firm has a market cap of $81.62 billion, a price-to-earnings ratio of 38.64, a P/E/G ratio of 2.51 and a beta of 1.01. The company has a 50 day moving average price of $337.00 and a 200-day moving average price of $317.41. Trane Technologies plc has a one year low of $184.02 and a one year high of $362.43.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Wednesday, July 31st. The company reported $3.30 EPS for the quarter, topping analysts’ consensus estimates of $3.08 by $0.22. The business had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.13 billion. Trane Technologies had a net margin of 12.33% and a return on equity of 33.97%. Trane Technologies’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same period last year, the firm earned $2.68 earnings per share. As a group, research analysts predict that Trane Technologies plc will post 10.82 EPS for the current year.

Trane Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be issued a $0.84 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $3.36 annualized dividend and a yield of 0.93%. Trane Technologies’s dividend payout ratio is presently 35.90%.

Trane Technologies Company 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.