Trane Technologies plc $TT Stock Holdings Lessened by Moran Wealth Management LLC

Moran Wealth Management LLC reduced its position in shares of Trane Technologies plc (NYSE:TT) by 3.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 115,374 shares of the company’s stock after selling 3,775 shares during the quarter. Trane Technologies comprises approximately 1.5% of Moran Wealth Management LLC’s holdings, making the stock its 4th largest holding. Moran Wealth Management LLC owned 0.05% of Trane Technologies worth $48,081,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Tucker Asset Management LLC bought a new position in Trane Technologies during the fourth quarter valued at $25,000. JPL Wealth Management LLC bought a new stake in shares of Trane Technologies in the 3rd quarter worth about $32,000. Physician Wealth Advisors Inc. raised its position in shares of Trane Technologies by 192.6% during the 1st quarter. Physician Wealth Advisors Inc. now owns 79 shares of the company’s stock valued at $33,000 after buying an additional 52 shares in the last quarter. Hilton Head Capital Partners LLC purchased a new stake in shares of Trane Technologies during the 4th quarter valued at about $32,000. Finally, Kemnay Advisory Services Inc. bought a new position in shares of Trane Technologies in the 4th quarter valued at about $34,000. Institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on TT shares. JPMorgan Chase & Co. lifted their price target on Trane Technologies from $460.00 to $476.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Evercore assumed coverage on Trane Technologies in a research report on Monday, April 13th. They set an “outperform” rating and a $535.00 price objective on the stock. KeyCorp raised their price objective on Trane Technologies from $525.00 to $555.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Citigroup lifted their target price on Trane Technologies from $525.00 to $570.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Finally, Royal Bank Of Canada boosted their target price on Trane Technologies from $440.00 to $501.00 and gave the company a “sector perform” rating in a research report on Friday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Trane Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $509.12.

Insider Buying and Selling at Trane Technologies

In other news, insider Donald E. Simmons sold 4,593 shares of the business’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $500.00, for a total transaction of $2,296,500.00. Following the completion of the sale, the insider directly owned 3,819 shares of the company’s stock, valued at approximately $1,909,500. The trade was a 54.60% 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 this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Christopher J. Kuehn sold 8,619 shares of the company’s stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $450.00, for a total transaction of $3,878,550.00. Following the completion of the transaction, the chief financial officer owned 60,576 shares in the company, valued at approximately $27,259,200. The trade was a 12.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is currently owned by company insiders.

Trane Technologies Trading Down 0.1%

TT opened at $477.76 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.10. The stock’s 50 day moving average price is $470.69 and its 200-day moving average price is $440.93. Trane Technologies plc has a one year low of $348.06 and a one year high of $505.87. The stock has a market cap of $105.61 billion, a price-to-earnings ratio of 36.95, a P/E/G ratio of 2.20 and a beta of 1.19.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Friday, May 1st. The company reported $2.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.10. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The firm had revenue of $4.97 billion during the quarter, compared to analyst estimates of $4.81 billion. During the same period last year, the company earned $2.45 EPS. Trane Technologies’s quarterly revenue was up 6.0% compared to the same quarter last year. On average, equities analysts forecast that Trane Technologies plc will post 14.9 EPS for the current year.

Trane Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 4th will be given a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, September 4th. Trane Technologies’s dividend payout ratio (DPR) is 32.48%.

About Trane Technologies

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.