Heritage Wealth Management Inc. Sells 65 Shares of Trane Technologies plc (NYSE:TT)

Heritage Wealth Management Inc. trimmed its holdings in Trane Technologies plc (NYSE:TT) by 9.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 635 shares of the company’s stock after selling 65 shares during the quarter. Heritage Wealth Management Inc.’s holdings in Trane Technologies were worth $235,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. MidAtlantic Capital Management Inc. bought a new stake in shares of Trane Technologies in the 3rd quarter worth approximately $27,000. Global Wealth Strategies & Associates bought a new stake in Trane Technologies during the 4th quarter valued at $26,000. Sound Income Strategies LLC raised its holdings in Trane Technologies by 1,314.3% during the 4th 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 last quarter. Pittenger & Anderson Inc. bought a new stake in Trane Technologies during the 3rd quarter valued at $39,000. Finally, Golden State Wealth Management LLC bought a new stake in Trane Technologies during the 4th quarter valued at $39,000. 82.97% of the stock is currently owned by institutional investors.

Trane Technologies Stock Up 2.9 %

NYSE:TT opened at $354.22 on Friday. The firm’s 50-day moving average price is $371.26 and its 200-day moving average price is $380.45. The company has a market capitalization of $79.45 billion, a PE ratio of 31.49, a P/E/G ratio of 2.50 and a beta of 1.05. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88. Trane Technologies plc has a 1-year low of $279.00 and a 1-year high of $422.00.

Trane Technologies (NYSE:TT) last released its earnings results on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, topping 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 analysts predict that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Increases Dividend

The company also recently disclosed 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. This represents a $3.76 annualized dividend and a yield of 1.06%. 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 dividend payout ratio is 29.87%.

Analyst Ratings Changes

A number of equities research analysts recently commented on TT shares. Northcoast Research started coverage on shares of Trane Technologies in a report on Friday, November 22nd. They set a “buy” rating and a $500.00 price target for the company. Melius Research reiterated a “hold” rating and set a $398.00 price target on shares of Trane Technologies in a report on Tuesday, January 28th. Wells Fargo & Company lowered their price target on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a report on Friday, January 31st. JPMorgan Chase & Co. upped their price target on shares of Trane Technologies from $387.00 to $396.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Finally, Royal Bank of Canada boosted their price objective on shares of Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a research report on Friday, January 3rd. One 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’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $415.25.

Insider Activity at Trane Technologies

In related news, CEO David S. Regnery sold 2,754 shares of the stock in a transaction dated 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 directly 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Mairead Magner sold 198 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total transaction of $70,806.78. Following the sale, the senior vice president now directly owns 13,401 shares in the company, valued at $4,792,331.61. This trade represents a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,563 shares of company stock valued at $4,388,966. 0.38% of the stock is owned by 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.