Golden State Wealth Management LLC Makes New Investment in Trane Technologies plc (NYSE:TT)

Golden State Wealth Management LLC acquired a new position in shares of Trane Technologies plc (NYSE:TT) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 106 shares of the company’s stock, valued at approximately $39,000.

Other hedge funds have also bought and sold shares of the company. MidAtlantic Capital Management Inc. bought a new position in Trane Technologies during the third quarter worth $27,000. Global Wealth Strategies & Associates bought a new position in shares of Trane Technologies during the 4th quarter worth about $26,000. DT Investment Partners LLC acquired a new stake in shares of Trane Technologies in the 3rd quarter valued at about $36,000. Sound Income Strategies LLC increased its position in Trane Technologies by 1,314.3% in the 4th quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock valued at $37,000 after buying an additional 92 shares in the last quarter. Finally, Pittenger & Anderson Inc. acquired a new position in Trane Technologies during the 3rd quarter worth approximately $39,000. Institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling at Trane Technologies

In related news, SVP Mairead Magner sold 4,329 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the sale, the senior vice president now directly owns 12,893 shares in the company, valued at approximately $5,363,488. This represents a 25.14 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Christopher J. Kuehn sold 876 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $357.42, for a total transaction of $313,099.92. Following the sale, the chief financial officer now directly owns 63,841 shares in the company, valued at $22,818,050.22. The trade was a 1.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,563 shares of company stock worth $4,388,966 over the last ninety days. 0.38% of the stock is currently owned by company insiders.

Analyst Ratings Changes

TT has been the subject of several recent research reports. UBS Group decreased their price objective on Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a report on Friday, January 31st. Citigroup lowered their price objective on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a report on Monday, January 13th. 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 report on Tuesday, January 28th. Barclays upped their target price on shares of Trane Technologies from $440.00 to $500.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Finally, Robert W. Baird cut their price target on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $415.25.

Trane Technologies Trading Up 1.1 %

Shares of Trane Technologies stock opened at $364.55 on Wednesday. The firm has a market cap of $82.03 billion, a PE ratio of 32.40, a P/E/G ratio of 2.44 and a beta of 1.05. Trane Technologies plc has a 1 year low of $265.37 and a 1 year high of $422.00. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88. The stock has a fifty day moving average price of $382.56 and a 200-day moving average price of $377.89.

Trane Technologies (NYSE:TT) last announced 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 net margin of 12.94% and a return on equity of 35.37%. Equities research analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 1.03%. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.84. The ex-dividend date is Friday, March 7th. Trane Technologies’s dividend payout ratio is 29.87%.

Trane Technologies 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.