Net Worth Advisory Group Reduces Stock Position in Trane Technologies plc (NYSE:TT)

Net Worth Advisory Group lessened its stake in shares of Trane Technologies plc (NYSE:TT) by 1.8% in the fourth quarter, HoldingsChannel reports. The firm owned 1,876 shares of the company’s stock after selling 34 shares during the quarter. Net Worth Advisory Group’s holdings in Trane Technologies were worth $693,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TT. Swedbank AB increased its position in Trane Technologies by 2.8% during the 3rd quarter. Swedbank AB now owns 743,794 shares of the company’s stock worth $289,135,000 after purchasing an additional 20,400 shares in the last quarter. Equitable Trust Co. purchased a new stake in Trane Technologies during the 3rd quarter worth about $220,000. CWA Asset Management Group LLC purchased a new stake in Trane Technologies during the 3rd quarter worth about $386,000. Verdence Capital Advisors LLC grew its holdings in Trane Technologies by 5.0% in the 3rd quarter. Verdence Capital Advisors LLC now owns 1,362 shares of the company’s stock valued at $529,000 after buying an additional 65 shares during the period. Finally, Assetmark Inc. grew its holdings in Trane Technologies by 1.8% in the 3rd quarter. Assetmark Inc. now owns 18,801 shares of the company’s stock valued at $7,309,000 after buying an additional 327 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Performance

Trane Technologies stock opened at $338.24 on Tuesday. The stock’s 50 day moving average price is $367.30 and its 200 day moving average price is $380.52. The firm has a market capitalization of $75.86 billion, a PE ratio of 30.07, a price-to-earnings-growth 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 plc has a one year low of $279.00 and a one year high of $422.00.

Trane Technologies (NYSE:TT) last released its quarterly 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%. As a group, sell-side analysts expect that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be given a dividend of $0.94 per share. The ex-dividend date is Friday, March 7th. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 annualized dividend and a yield of 1.11%. Trane Technologies’s payout ratio is 33.42%.

Insider Buying and Selling

In other Trane Technologies news, CEO David S. Regnery sold 2,754 shares of Trane Technologies stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $357.34, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Christopher J. Kuehn sold 770 shares of Trane Technologies stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $358.39, for a total value of $275,960.30. Following the sale, the chief financial officer now owns 62,221 shares in the company, valued at $22,299,384.19. This represents a 1.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,234 shares of company stock valued at $2,588,102. Corporate insiders own 0.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. UBS Group lowered their price target on Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a report on Friday, January 31st. Wells Fargo & Company lowered their price target on Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a report on Friday, January 31st. Melius cut Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price target for the company. in a report on Tuesday, January 28th. Barclays lowered their price target on Trane Technologies from $500.00 to $475.00 and set an “overweight” rating for the company in a report on Monday. Finally, Melius Research restated a “hold” rating and issued a $398.00 price target on shares of Trane Technologies in a report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $413.69.

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.