Trane Technologies plc (NYSE:TT) is Moran Wealth Management LLC’s Largest Position

Moran Wealth Management LLC grew its holdings in shares of Trane Technologies plc (NYSE:TT) by 10.8% during the 4th quarter, HoldingsChannel reports. The firm owned 187,093 shares of the company’s stock after buying an additional 18,273 shares during the period. Trane Technologies comprises approximately 2.2% of Moran Wealth Management LLC’s holdings, making the stock its biggest position. Moran Wealth Management LLC’s holdings in Trane Technologies were worth $69,103,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Raymond James Financial Inc. acquired a new position in shares of Trane Technologies during the 4th quarter valued at about $611,322,000. Massachusetts Financial Services Co. MA raised its stake in Trane Technologies by 35.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,550,511 shares of the company’s stock worth $991,460,000 after purchasing an additional 671,691 shares during the period. FMR LLC boosted its holdings in Trane Technologies by 4.0% in the 3rd quarter. FMR LLC now owns 10,337,672 shares of the company’s stock valued at $4,018,563,000 after purchasing an additional 397,537 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich grew its stake in shares of Trane Technologies by 455.2% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 427,226 shares of the company’s stock valued at $167,977,000 after buying an additional 350,277 shares during the period. Finally, Nordea Investment Management AB increased its holdings in shares of Trane Technologies by 42.9% during the 4th quarter. Nordea Investment Management AB now owns 978,275 shares of the company’s stock worth $361,874,000 after buying an additional 293,916 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

TT has been the subject of several analyst reports. Wells Fargo & Company lowered their price objective on Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a research report on Friday, January 31st. UBS Group cut their price objective on Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Barclays upped their target price on shares of Trane Technologies from $440.00 to $500.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Melius Research reiterated a “hold” rating and set a $398.00 price target on shares of Trane Technologies in a research report on Tuesday, January 28th. Finally, Citigroup decreased their price objective on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a report on Monday, January 13th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, Trane Technologies currently has an average rating of “Hold” and a consensus price target of $415.25.

Trane Technologies Stock Up 0.9 %

TT stock opened at $344.81 on Monday. The company’s 50 day moving average price is $367.96 and its 200 day moving average price is $380.61. The firm has a market capitalization of $77.34 billion, a price-to-earnings ratio of 30.65, a PEG ratio of 2.50 and a beta of 1.08. Trane Technologies plc has a fifty-two week low of $279.00 and a fifty-two week high of $422.00. 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 announced its quarterly earnings data on Thursday, January 30th. The company reported $2.61 EPS for the quarter, beating analysts’ consensus estimates of $2.52 by $0.09. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. On average, equities research analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 1.09%. This is an increase from Trane Technologies’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Friday, March 7th. Trane Technologies’s payout ratio is 33.42%.

Insider Transactions at Trane Technologies

In other news, SVP Mairead Magner sold 198 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total value of $70,806.78. Following the completion of the transaction, the senior vice president now owns 13,401 shares in the company, valued at approximately $4,792,331.61. This represents a 1.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Christopher J. Kuehn sold 876 shares of Trane Technologies stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $357.42, for a total transaction of $313,099.92. Following the sale, the chief financial officer now owns 63,841 shares in the company, valued at $22,818,050.22. This represents a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,234 shares of company stock valued at $2,588,102. 0.38% of the stock is currently owned by corporate insiders.

Trane Technologies Company 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.