MOR Wealth Management LLC Makes New Investment in Trane Technologies plc $TT

MOR Wealth Management LLC acquired a new position in shares of Trane Technologies plc (NYSE:TT) during the 4th quarter, Holdings Channel.com reports. The fund acquired 1,454 shares of the company’s stock, valued at approximately $566,000.

A number of other institutional investors have also recently bought and sold shares of TT. Icon Advisers Inc. Co. acquired a new position in shares of Trane Technologies in the 2nd quarter valued at $26,000. Financial Consulate Inc. acquired a new position in Trane Technologies in the third quarter worth about $25,000. United Community Bank boosted its holdings in Trane Technologies by 134.4% during the third quarter. United Community Bank now owns 75 shares of the company’s stock valued at $32,000 after purchasing an additional 43 shares in the last quarter. JPL Wealth Management LLC bought a new stake in shares of Trane Technologies in the 3rd quarter valued at approximately $32,000. Finally, Halbert Hargrove Global Advisors LLC grew its stake in shares of Trane Technologies by 34.2% in the 3rd quarter. Halbert Hargrove Global Advisors LLC now owns 102 shares of the company’s stock valued at $43,000 after purchasing an additional 26 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Trading Up 0.0%

TT opened at $410.32 on Monday. The company has a current ratio of 1.25, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $90.82 billion, a PE ratio of 31.61, a PEG ratio of 2.16 and a beta of 1.19. Trane Technologies plc has a 1-year low of $298.15 and a 1-year high of $479.37. The firm has a 50-day moving average price of $433.62 and a two-hundred day moving average price of $417.64.

Trane Technologies (NYSE:TT) last announced its earnings results on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.81 by $0.05. The company had revenue of $5.14 billion for the quarter, compared to analyst estimates of $5.09 billion. Trane Technologies had a net margin of 13.69% and a return on equity of 36.34%. Trane Technologies’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period in the prior year, the business earned $2.61 earnings per share. As a group, equities analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 6th will be given a dividend of $1.05 per share. The ex-dividend date is Friday, March 6th. This is an increase from Trane Technologies’s previous quarterly dividend of $0.94. This represents a $4.20 dividend on an annualized basis and a dividend yield of 1.0%. Trane Technologies’s dividend payout ratio is presently 32.36%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on TT shares. JPMorgan Chase & Co. raised their target price on Trane Technologies from $434.00 to $460.00 and gave the stock a “neutral” rating in a research report on Friday, January 30th. UBS Group dropped their price objective on Trane Technologies from $544.00 to $520.00 and set a “buy” rating for the company in a research note on Monday, January 5th. Oppenheimer boosted their target price on shares of Trane Technologies from $460.00 to $468.00 and gave the company an “outperform” rating in a research note on Friday, January 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Trane Technologies in a report on Wednesday, January 21st. Finally, Citigroup upped their price objective on shares of Trane Technologies from $513.00 to $525.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Trane Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $484.67.

Insider Transactions at Trane Technologies

In related news, insider Donald E. Simmons sold 3,762 shares of Trane Technologies stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $422.70, for a total value of $1,590,197.40. Following the completion of the sale, the insider directly owned 3,819 shares in the company, valued at $1,614,291.30. This trade represents a 49.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David S. Regnery sold 36,045 shares of the company’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $422.69, for a total transaction of $15,235,861.05. Following the transaction, the chief executive officer owned 96,948 shares in the company, valued at approximately $40,978,950.12. The trade was a 27.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 49,378 shares of company stock worth $21,228,464. 0.14% of the stock is owned by insiders.

Trane Technologies Profile

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.