NWK Group Inc. Sells 72 Shares of Trane Technologies plc (NYSE:TT)

NWK Group Inc. lowered its stake in shares of Trane Technologies plc (NYSE:TT) by 1.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,330 shares of the company’s stock after selling 72 shares during the quarter. NWK Group Inc.’s holdings in Trane Technologies were worth $1,599,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. World Investment Advisors LLC raised its position in shares of Trane Technologies by 5,253.1% in the third quarter. World Investment Advisors LLC now owns 34,581 shares of the company’s stock valued at $13,443,000 after purchasing an additional 33,935 shares during the period. Sfmg LLC boosted its holdings in shares of Trane Technologies by 1.5% in the third quarter. Sfmg LLC now owns 2,441 shares of the company’s stock worth $949,000 after acquiring an additional 36 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in Trane Technologies during the 3rd quarter valued at about $3,916,000. Tidal Investments LLC boosted its holdings in Trane Technologies by 22.2% in the 3rd quarter. Tidal Investments LLC now owns 15,827 shares of the company’s stock valued at $6,152,000 after purchasing an additional 2,874 shares during the period. Finally, Synovus Financial Corp raised its position in shares of Trane Technologies by 16.8% in the third quarter. Synovus Financial Corp now owns 8,828 shares of the company’s stock worth $3,431,000 after buying an additional 1,271 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling

In other news, CFO Christopher J. Kuehn sold 876 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $357.42, for a total value of $313,099.92. Following the transaction, the chief financial officer now owns 63,841 shares in the company, valued at approximately $22,818,050.22. This represents a 1.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO David S. Regnery sold 2,754 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total value of $984,114.36. Following the sale, the chief executive officer now owns 132,969 shares in the company, valued at approximately $47,515,142.46. This represents a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,234 shares of company stock valued at $2,588,102 over the last quarter. Corporate insiders own 0.38% of the company’s stock.

Trane Technologies Trading Up 0.8 %

Shares of TT opened at $333.33 on Friday. Trane Technologies plc has a 1-year low of $286.32 and a 1-year high of $422.00. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. The firm’s 50-day moving average price is $344.98 and its 200-day moving average price is $374.84. The firm has a market capitalization of $74.76 billion, a price-to-earnings ratio of 29.63, a PEG ratio of 2.50 and a beta of 1.08.

Trane Technologies (NYSE:TT) last posted 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 return on equity of 35.37% and a net margin of 12.94%. Sell-side analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be paid a $0.94 dividend. The ex-dividend date is Friday, June 6th. This represents a $3.76 annualized dividend and a dividend yield of 1.13%. Trane Technologies’s payout ratio is 33.42%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TT. Barclays dropped their price target on Trane Technologies from $500.00 to $475.00 and set an “overweight” rating for the company in a research report on Monday, March 10th. JPMorgan Chase & Co. dropped their price objective on shares of Trane Technologies from $396.00 to $323.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. Melius Research reaffirmed a “hold” rating and set a $398.00 price target on shares of Trane Technologies in a research note on Tuesday, January 28th. Citigroup cut their target price on Trane Technologies from $476.00 to $415.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Finally, Royal Bank of Canada boosted their price objective on shares of Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a report on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $405.31.

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.