Axxcess Wealth Management LLC Buys 922 Shares of Trane Technologies plc (NYSE:TT)

Axxcess Wealth Management LLC lifted its stake in shares of Trane Technologies plc (NYSE:TT) by 176.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,445 shares of the company’s stock after purchasing an additional 922 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Trane Technologies were worth $534,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in TT. Tidal Investments LLC increased its stake in Trane Technologies by 22.2% during the 3rd quarter. Tidal Investments LLC now owns 15,827 shares of the company’s stock valued at $6,152,000 after purchasing an additional 2,874 shares in the last quarter. Synovus Financial Corp raised its holdings in shares of Trane Technologies by 16.8% in the 3rd quarter. Synovus Financial Corp now owns 8,828 shares of the company’s stock worth $3,431,000 after acquiring an additional 1,271 shares during the last quarter. Ameritas Advisory Services LLC bought a new position in Trane Technologies in the 4th quarter valued at about $468,000. HB Wealth Management LLC boosted its stake in Trane Technologies by 14.3% during the 4th quarter. HB Wealth Management LLC now owns 5,689 shares of the company’s stock valued at $2,101,000 after purchasing an additional 711 shares during the last quarter. Finally, Crossmark Global Holdings Inc. raised its stake in shares of Trane Technologies by 31.2% in the fourth quarter. Crossmark Global Holdings Inc. now owns 29,057 shares of the company’s stock worth $10,733,000 after purchasing an additional 6,910 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Trane Technologies

In related news, CEO David S. Regnery sold 2,754 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total transaction of $984,114.36. Following the sale, the chief executive officer now owns 132,969 shares of the company’s stock, valued at approximately $47,515,142.46. This represents a 2.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Mairead Magner sold 198 shares of the firm’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total transaction of $70,806.78. Following the completion of the transaction, the senior vice president now directly owns 13,401 shares of the company’s stock, valued at approximately $4,792,331.61. The trade was a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,234 shares of company stock worth $2,588,102. 0.38% of the stock is owned by company insiders.

Analysts Set New Price Targets

TT has been the topic of several analyst reports. Melius Research reaffirmed a “hold” rating and set a $398.00 target price on shares of Trane Technologies in a research report on Tuesday, January 28th. UBS Group reduced their target price on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Citigroup lowered their target price on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a report on Monday, January 13th. Barclays reduced their price objective on shares of Trane Technologies from $500.00 to $475.00 and set an “overweight” rating for the company in a research report on Monday, March 10th. Finally, Wells Fargo & Company dropped their target price on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating on the stock in a research report on Friday, January 31st. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $413.69.

Trane Technologies Stock Down 0.6 %

TT stock opened at $347.30 on Friday. Trane Technologies plc has a fifty-two week low of $286.32 and a fifty-two week high of $422.00. The stock has a fifty day moving average of $361.24 and a 200-day moving average of $379.52. The company has a market capitalization of $77.90 billion, a price-to-earnings ratio of 30.87, a PEG ratio of 2.50 and a beta of 1.08. 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 (NYSE:TT) last posted its earnings results on Thursday, January 30th. The company reported $2.61 earnings per share 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%. As a group, equities research analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be issued a $0.94 dividend. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date is Friday, March 7th. Trane Technologies’s dividend payout ratio (DPR) is presently 33.42%.

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.