Spire Wealth Management Acquires 1,295 Shares of Trane Technologies plc (NYSE:TT)

Spire Wealth Management boosted its holdings in Trane Technologies plc (NYSE:TT) by 28.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,812 shares of the company’s stock after acquiring an additional 1,295 shares during the quarter. Spire Wealth Management’s holdings in Trane Technologies were worth $1,447,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BKM Wealth Management LLC acquired a new position in shares of Trane Technologies in the 4th quarter worth approximately $25,000. Venturi Wealth Management LLC raised its stake in Trane Technologies by 139.7% during the third quarter. Venturi Wealth Management LLC now owns 151 shares of the company’s stock worth $31,000 after acquiring an additional 88 shares in the last quarter. Ancora Advisors LLC bought a new position in shares of Trane Technologies during the third quarter valued at $40,000. Rosenberg Matthew Hamilton boosted its stake in shares of Trane Technologies by 27.2% in the 4th quarter. Rosenberg Matthew Hamilton now owns 192 shares of the company’s stock valued at $47,000 after purchasing an additional 41 shares in the last quarter. Finally, Operose Advisors LLC acquired a new stake in shares of Trane Technologies in the 3rd quarter valued at $53,000. Institutional investors own 82.97% of the company’s stock.

Insider Transactions at Trane Technologies

In other Trane Technologies news, SVP Keith A. Sultana sold 1,983 shares of Trane Technologies stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $272.26, for a total transaction of $539,891.58. Following the transaction, the senior vice president now directly owns 42,575 shares in the company, valued at $11,591,469.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO David S. Regnery sold 6,990 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $286.19, for a total transaction of $2,000,468.10. Following the completion of the sale, the chief executive officer now owns 113,874 shares of the company’s stock, valued at $32,589,600.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Keith A. Sultana sold 1,983 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $272.26, for a total transaction of $539,891.58. Following the completion of the sale, the senior vice president now directly owns 42,575 shares in the company, valued at $11,591,469.50. The disclosure for this sale can be found here. Insiders have sold a total of 28,237 shares of company stock valued at $8,024,534 over the last three months. 0.39% of the stock is currently owned by corporate insiders.

Trane Technologies Price Performance

TT opened at $325.89 on Wednesday. The company has a fifty day moving average price of $296.65 and a two-hundred day moving average price of $259.66. The firm has a market capitalization of $73.77 billion, a PE ratio of 34.82, a P/E/G ratio of 2.54 and a beta of 1.01. Trane Technologies plc has a 52 week low of $162.04 and a 52 week high of $327.47. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.74 and a current ratio of 1.13.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $1.94 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.30. The business had revenue of $4.22 billion during the quarter, compared to analysts’ expectations of $3.99 billion. Trane Technologies had a return on equity of 32.78% and a net margin of 11.81%. The firm’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.41 earnings per share. As a group, analysts anticipate that Trane Technologies plc will post 10.48 earnings per share for the current year.

Trane Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be issued a $0.84 dividend. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $3.36 annualized dividend and a yield of 1.03%. Trane Technologies’s dividend payout ratio (DPR) is presently 35.90%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on TT shares. The Goldman Sachs Group increased their target price on shares of Trane Technologies from $287.00 to $326.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Robert W. Baird lifted their target price on shares of Trane Technologies from $315.00 to $344.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Mizuho increased their price target on Trane Technologies from $280.00 to $325.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Stephens lifted their price objective on Trane Technologies from $310.00 to $320.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 1st. Finally, Royal Bank of Canada increased their target price on Trane Technologies from $231.00 to $246.00 and gave the stock a “sector perform” rating in a report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Trane Technologies currently has an average rating of “Hold” and an average target price of $300.54.

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.