Harbour Wealth Management Group Inc. Invests $1.31 Million in Trane Technologies plc $TT

Harbour Wealth Management Group Inc. acquired a new position in shares of Trane Technologies plc (NYSE:TT) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 3,364 shares of the company’s stock, valued at approximately $1,309,000. Trane Technologies makes up approximately 1.0% of Harbour Wealth Management Group Inc.’s holdings, making the stock its 23rd biggest position.

Several other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC lifted its position in shares of Trane Technologies by 60.0% in the fourth quarter. Brighton Jones LLC now owns 6,194 shares of the company’s stock worth $2,288,000 after purchasing an additional 2,323 shares in the last quarter. Sivia Capital Partners LLC lifted its position in Trane Technologies by 22.4% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,665 shares of the company’s stock worth $728,000 after buying an additional 305 shares in the last quarter. Schnieders Capital Management LLC. acquired a new position in shares of Trane Technologies during the 2nd quarter worth about $227,000. Nebula Research & Development LLC increased its position in shares of Trane Technologies by 178.0% in the second quarter. Nebula Research & Development LLC now owns 2,371 shares of the company’s stock valued at $1,037,000 after acquiring an additional 1,518 shares during the last quarter. Finally, Treasurer of the State of North Carolina raised its holdings in Trane Technologies by 0.5% during the second quarter. Treasurer of the State of North Carolina now owns 104,140 shares of the company’s stock worth $45,552,000 after acquiring an additional 497 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on TT shares. BNP Paribas Exane assumed coverage on Trane Technologies in a research report on Tuesday, April 14th. They set an “outperform” rating and a $550.00 price target on the stock. Barclays increased their price objective on Trane Technologies from $507.00 to $585.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Sanford C. Bernstein began coverage on shares of Trane Technologies in a research report on Tuesday, June 9th. They set an “outperform” rating and a $550.00 price target on the stock. Evercore started coverage on shares of Trane Technologies in a research note on Monday, April 13th. They issued an “outperform” rating and a $535.00 price target for the company. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Trane Technologies from $460.00 to $476.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $509.12.

Trane Technologies Trading Up 2.4%

Shares of Trane Technologies stock opened at $483.88 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.10. The firm has a 50-day moving average of $467.20 and a 200-day moving average of $434.88. Trane Technologies plc has a 52-week low of $348.06 and a 52-week high of $503.47. The stock has a market cap of $106.96 billion, a PE ratio of 37.42, a PEG ratio of 2.18 and a beta of 1.20.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Friday, May 1st. The company reported $2.63 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.10. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The business had revenue of $4.97 billion for the quarter, compared to analyst estimates of $4.81 billion. During the same period last year, the firm earned $2.45 earnings per share. Trane Technologies’s revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Trane Technologies plc will post 14.88 EPS for the current year.

Trane Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 4th will be issued a dividend of $1.05 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $4.20 annualized dividend and a dividend yield of 0.9%. Trane Technologies’s dividend payout ratio (DPR) is currently 32.48%.

Insider Buying and Selling

In other Trane Technologies news, insider Donald E. Simmons sold 4,593 shares of the firm’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $500.00, for a total transaction of $2,296,500.00. Following the transaction, the insider owned 3,819 shares in the company, valued at $1,909,500. This trade represents a 54.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Christopher J. Kuehn sold 8,619 shares of Trane Technologies stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $450.00, for a total value of $3,878,550.00. Following the completion of the transaction, the chief financial officer directly owned 60,576 shares of the company’s stock, valued at $27,259,200. This represents a 12.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is currently owned by insiders.

Trane Technologies Company Profile

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.