Confluence Wealth Services Inc. Boosts Stock Holdings in Trane Technologies plc (NYSE:TT)

Confluence Wealth Services Inc. raised its stake in shares of Trane Technologies plc (NYSE:TT) by 8.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,989 shares of the company’s stock after purchasing an additional 326 shares during the period. Confluence Wealth Services Inc.’s holdings in Trane Technologies were worth $1,597,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Czech National Bank boosted its stake in Trane Technologies by 6.6% during the third quarter. Czech National Bank now owns 45,971 shares of the company’s stock valued at $17,870,000 after buying an additional 2,837 shares during the last quarter. Azzad Asset Management Inc. ADV raised its holdings in shares of Trane Technologies by 1.1% during the 3rd quarter. Azzad Asset Management Inc. ADV now owns 6,388 shares of the company’s stock worth $2,483,000 after acquiring an additional 68 shares in the last quarter. Diversified Trust Co boosted its position in shares of Trane Technologies by 4.5% during the 3rd quarter. Diversified Trust Co now owns 3,310 shares of the company’s stock valued at $1,287,000 after acquiring an additional 144 shares during the last quarter. Chapin Davis Inc. grew its holdings in shares of Trane Technologies by 4.9% in the third quarter. Chapin Davis Inc. now owns 6,599 shares of the company’s stock valued at $2,565,000 after purchasing an additional 308 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC increased its position in Trane Technologies by 0.8% in the third quarter. Dynamic Advisor Solutions LLC now owns 5,041 shares of the company’s stock worth $1,959,000 after purchasing an additional 40 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on TT shares. Melius cut shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price objective for the company. in a research note on Tuesday, January 28th. UBS Group dropped their price target on Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Mizuho upped their price objective on Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. The Goldman Sachs Group raised their price objective on Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Finally, Barclays increased their price target on Trane Technologies from $440.00 to $500.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $415.25.

Trane Technologies Stock Performance

Shares of NYSE:TT opened at $355.41 on Wednesday. The firm’s 50 day simple moving average is $387.21 and its 200-day simple moving average is $377.24. 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 one year low of $265.37 and a one year high of $422.00. The firm has a market cap of $79.97 billion, a PE ratio of 31.59, a price-to-earnings-growth ratio of 2.18 and a beta of 1.05.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Thursday, January 30th. The company reported $2.61 EPS for the quarter, topping the consensus estimate of $2.52 by $0.09. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. As a group, equities analysts predict that Trane Technologies plc will post 12.79 EPS for the current year.

Trane Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be given a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 1.06%. This is a boost from Trane Technologies’s previous quarterly dividend of $0.84. Trane Technologies’s dividend payout ratio is presently 29.87%.

Insider Activity

In other Trane Technologies news, SVP Mairead Magner sold 4,329 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the completion of the sale, the senior vice president now owns 12,893 shares in the company, valued at $5,363,488. This represents a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.38% of the company’s stock.

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.