Global Wealth Strategies & Associates Invests $26,000 in Trane Technologies plc (NYSE:TT)

Global Wealth Strategies & Associates purchased a new position in shares of Trane Technologies plc (NYSE:TT) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 70 shares of the company’s stock, valued at approximately $26,000.

Other hedge funds have also bought and sold shares of the company. Old Port Advisors boosted its stake in Trane Technologies by 12.6% in the fourth quarter. Old Port Advisors now owns 713 shares of the company’s stock valued at $263,000 after acquiring an additional 80 shares during the period. Lord Abbett & CO. LLC boosted its position in Trane Technologies by 24.7% during the 3rd quarter. Lord Abbett & CO. LLC now owns 203,047 shares of the company’s stock valued at $78,930,000 after purchasing an additional 40,221 shares during the period. Oddo BHF Asset Management Sas bought a new position in Trane Technologies during the 3rd quarter worth $634,000. American Trust acquired a new stake in Trane Technologies in the third quarter worth $264,000. Finally, Peapack Gladstone Financial Corp lifted its stake in Trane Technologies by 3.4% in the third quarter. Peapack Gladstone Financial Corp now owns 99,734 shares of the company’s stock valued at $38,770,000 after buying an additional 3,313 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Trane Technologies Stock Up 0.9 %

Shares of Trane Technologies stock traded up $3.23 during midday trading on Thursday, reaching $372.58. 682,211 shares of the company’s stock traded hands, compared to its average volume of 1,115,477. Trane Technologies plc has a 52 week low of $233.76 and a 52 week high of $422.00. The company’s 50 day simple moving average is $397.09 and its 200 day simple moving average is $369.43. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.92 and a current ratio of 1.22. The company has a market cap of $83.84 billion, a price-to-earnings ratio of 34.56, a price-to-earnings-growth ratio of 2.38 and a beta of 1.03.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, beating analysts’ consensus estimates of $3.23 by $0.14. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The business had revenue of $5.44 billion for the quarter, compared to analyst estimates of $5.32 billion. During the same quarter in the prior year, the firm posted $2.79 EPS. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. Equities analysts expect that Trane Technologies plc will post 11.13 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th were paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date was Friday, December 6th. Trane Technologies’s payout ratio is 31.17%.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on TT shares. Robert W. Baird decreased their target price on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Barclays raised their target price on Trane Technologies from $440.00 to $500.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Hsbc Global Res lowered Trane Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. HSBC lowered Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price target on the stock. in a report on Thursday, October 31st. Finally, Citigroup upped their price objective on shares of Trane Technologies from $457.00 to $478.00 and gave the stock a “buy” rating in a report on Monday, December 9th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $409.93.

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.