Gray Wealth Management Inc. Decreases Stock Holdings in Trane Technologies plc (NYSE:TT)

Gray Wealth Management Inc. reduced its position in Trane Technologies plc (NYSE:TT) by 13.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,395 shares of the company’s stock after selling 225 shares during the quarter. Gray Wealth Management Inc.’s holdings in Trane Technologies were worth $340,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Acadian Asset Management LLC acquired a new position in Trane Technologies during the 1st quarter valued at approximately $178,000. Blair William & Co. IL grew its holdings in shares of Trane Technologies by 3.0% during the first quarter. Blair William & Co. IL now owns 16,727 shares of the company’s stock valued at $2,554,000 after buying an additional 495 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new position in shares of Trane Technologies in the 1st quarter valued at $219,000. Vanguard Group Inc. raised its stake in Trane Technologies by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 18,133,851 shares of the company’s stock worth $2,769,040,000 after acquiring an additional 77,924 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its position in Trane Technologies by 3.8% during the 1st quarter. Mackenzie Financial Corp now owns 956,177 shares of the company’s stock worth $146,008,000 after acquiring an additional 34,591 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Barclays increased their price objective on Trane Technologies from $286.00 to $325.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. Citigroup raised their price target on shares of Trane Technologies from $309.00 to $355.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. The Goldman Sachs Group upped their price objective on shares of Trane Technologies from $253.00 to $287.00 and gave the company a “neutral” rating in a report on Monday, February 5th. Royal Bank of Canada raised their target price on shares of Trane Technologies from $231.00 to $246.00 and gave the stock a “sector perform” rating in a report on Friday, February 2nd. Finally, Stephens upped their price target on shares of Trane Technologies from $235.00 to $280.00 and gave the company an “equal weight” rating in a report on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $251.83.

Trane Technologies Price Performance

NYSE TT traded down $3.53 during trading hours on Thursday, reaching $289.56. The company’s stock had a trading volume of 646,295 shares, compared to its average volume of 997,287. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.13 and a quick ratio of 0.78. Trane Technologies plc has a 1-year low of $162.04 and a 1-year high of $306.98. The company’s 50-day moving average is $289.02 and its two-hundred day moving average is $250.01. The firm has a market capitalization of $65.75 billion, a price-to-earnings ratio of 33.34, a P/E/G ratio of 2.49 and a beta of 1.05.

Trane Technologies (NYSE:TT) last announced its earnings results on Thursday, February 1st. The company reported $2.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.13 by $0.04. Trane Technologies had a return on equity of 32.01% and a net margin of 11.45%. The firm had revenue of $4.42 billion for the quarter, compared to analyst estimates of $4.43 billion. During the same quarter last year, the firm posted $1.82 EPS. The business’s revenue was up 8.6% on a year-over-year basis. On average, equities analysts predict that Trane Technologies plc will post 10.2 EPS for the current year.

Trane Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be given a $0.84 dividend. The ex-dividend date is Thursday, June 6th. This represents a $3.36 annualized dividend and a dividend yield of 1.16%. Trane Technologies’s dividend payout ratio (DPR) is 38.23%.

Insider Transactions at Trane Technologies

In related news, CFO Christopher J. Kuehn sold 3,762 shares of Trane Technologies stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $286.48, for a total value of $1,077,737.76. Following the sale, the chief financial officer now directly owns 61,691 shares in the company, valued at approximately $17,673,237.68. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CFO Christopher J. Kuehn sold 3,762 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $286.48, for a total transaction of $1,077,737.76. Following the completion of the transaction, the chief financial officer now directly owns 61,691 shares in the company, valued at approximately $17,673,237.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David S. Regnery sold 6,990 shares of Trane Technologies stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $286.19, for a total value of $2,000,468.10. Following the completion of the transaction, the chief executive officer now directly owns 113,874 shares of the company’s stock, valued at $32,589,600.06. The disclosure for this sale can be found here. Insiders sold 29,874 shares of company stock valued at $8,462,825 over the last 90 days. Corporate insiders own 0.39% of the company’s stock.

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.