MorganRosel Wealth Management LLC Raises Stake in Trane Technologies plc (NYSE:TT)

MorganRosel Wealth Management LLC boosted its position in Trane Technologies plc (NYSE:TT) by 2.7% in the 4th quarter, Holdings Channel reports. The fund owned 3,695 shares of the company’s stock after purchasing an additional 98 shares during the period. MorganRosel Wealth Management LLC’s holdings in Trane Technologies were worth $1,365,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in TT. Global Wealth Strategies & Associates purchased a new position in shares of Trane Technologies during the 4th quarter worth about $26,000. MidAtlantic Capital Management Inc. purchased a new position in shares of Trane Technologies in the 3rd quarter worth about $27,000. Sound Income Strategies LLC raised its holdings in Trane Technologies by 1,314.3% in the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock valued at $37,000 after buying an additional 92 shares during the period. Pittenger & Anderson Inc. acquired a new stake in shares of Trane Technologies in the third quarter worth $39,000. Finally, Golden State Wealth Management LLC purchased a new position in shares of Trane Technologies in the 4th quarter valued at $39,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Trading Down 2.3 %

Shares of NYSE:TT opened at $346.49 on Tuesday. The company has a market cap of $77.72 billion, a P/E ratio of 30.80, a P/E/G ratio of 2.50 and a beta of 1.05. The stock’s 50-day moving average is $373.78 and its 200-day moving average is $380.36. 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 plc has a 52-week low of $279.00 and a 52-week high of $422.00.

Trane Technologies (NYSE:TT) last issued its earnings results on Thursday, January 30th. The company reported $2.61 EPS for the quarter, topping the consensus estimate of $2.52 by $0.09. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. Equities research analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend is Friday, March 7th. This is a boost from Trane Technologies’s previous quarterly dividend of $0.84. Trane Technologies’s dividend payout ratio is presently 29.87%.

Insider Buying and Selling at Trane Technologies

In other news, SVP Mairead Magner sold 4,329 shares of Trane Technologies stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the transaction, the senior vice president now directly owns 12,893 shares of the company’s stock, valued at $5,363,488. This trade represents a 25.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO David S. Regnery sold 2,754 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $357.34, for a total value of $984,114.36. Following the sale, the chief executive officer now directly owns 132,969 shares in the company, valued at $47,515,142.46. The trade was a 2.03 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,563 shares of company stock valued at $4,388,966. 0.38% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

TT has been the subject of several recent research reports. Hsbc Global Res downgraded Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. HSBC downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price objective for the company. in a research report on Thursday, October 31st. Barclays boosted their target price on shares of Trane Technologies from $440.00 to $500.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Wells Fargo & Company cut their price objective on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating on the stock in a report on Friday, January 31st. Finally, JPMorgan Chase & Co. raised their price objective on shares of Trane Technologies from $387.00 to $396.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Trane Technologies has an average rating of “Hold” and an average price target of $415.25.

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.