Wealthfront Advisers LLC Buys 1,661 Shares of Trane Technologies plc (NYSE:TT)

Wealthfront Advisers LLC grew its stake in Trane Technologies plc (NYSE:TT) by 6.1% during the fourth quarter, Holdings Channel reports. The firm owned 29,049 shares of the company’s stock after purchasing an additional 1,661 shares during the period. Wealthfront Advisers LLC’s holdings in Trane Technologies were worth $10,729,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of TT. Swedbank AB lifted its holdings in shares of Trane Technologies by 2.8% in the third quarter. Swedbank AB now owns 743,794 shares of the company’s stock valued at $289,135,000 after purchasing an additional 20,400 shares in the last quarter. CWA Asset Management Group LLC bought a new position in shares of Trane Technologies in the third quarter valued at approximately $386,000. Assetmark Inc. lifted its holdings in shares of Trane Technologies by 1.8% in the third quarter. Assetmark Inc. now owns 18,801 shares of the company’s stock valued at $7,309,000 after purchasing an additional 327 shares in the last quarter. Sigma Planning Corp lifted its holdings in shares of Trane Technologies by 22.4% in the third quarter. Sigma Planning Corp now owns 4,890 shares of the company’s stock valued at $1,901,000 after purchasing an additional 896 shares in the last quarter. Finally, Ashton Thomas Securities LLC bought a new position in shares of Trane Technologies in the third quarter valued at approximately $84,000. Institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on TT. Barclays dropped their price target on Trane Technologies from $500.00 to $475.00 and set an “overweight” rating on the stock in a report on Monday. 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. Melius lowered Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price target on the stock. in a report on Tuesday, January 28th. UBS Group dropped their price target on Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Finally, Royal Bank of Canada lifted their price target on Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a report on Friday, January 3rd. 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 company’s stock. Based on data from MarketBeat, Trane Technologies presently has an average rating of “Hold” and a consensus price target of $413.69.

Insider Activity

In related news, SVP Mairead Magner sold 198 shares of the business’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $357.61, for a total transaction of $70,806.78. Following the completion of the transaction, the senior vice president now directly owns 13,401 shares in the company, valued at $4,792,331.61. The trade was a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David S. Regnery sold 2,754 shares of the business’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $357.34, for a total value of $984,114.36. Following the transaction, the chief executive officer now owns 132,969 shares of the company’s stock, valued at approximately $47,515,142.46. The trade was a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,234 shares of company stock worth $2,588,102. 0.38% of the stock is owned by corporate insiders.

Trane Technologies Price Performance

Shares of NYSE TT opened at $334.57 on Wednesday. The stock has a market cap of $75.04 billion, a PE ratio of 29.74, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08. Trane Technologies plc has a fifty-two week low of $281.46 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. The stock has a fifty day moving average of $366.61 and a 200-day moving average of $380.39.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, beating 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 anticipate that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be given a $0.94 dividend. 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. This represents a $3.76 annualized dividend and a dividend yield of 1.12%. Trane Technologies’s payout ratio is 33.42%.

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.