Institute for Wealth Management LLC. Makes New Investment in Trane Technologies plc (NYSE:TT)

Institute for Wealth Management LLC. bought a new position in shares of Trane Technologies plc (NYSE:TT) in the fourth quarter, Holdings Channel reports. The firm bought 958 shares of the company’s stock, valued at approximately $234,000.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Trane Technologies by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 18,133,851 shares of the company’s stock worth $2,769,040,000 after acquiring an additional 77,924 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Trane Technologies by 5.4% during the third quarter. JPMorgan Chase & Co. now owns 17,085,662 shares of the company’s stock worth $3,466,852,000 after purchasing an additional 880,583 shares in the last quarter. FMR LLC boosted its position in shares of Trane Technologies by 12.4% during the third quarter. FMR LLC now owns 5,743,154 shares of the company’s stock worth $1,165,343,000 after purchasing an additional 632,598 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Trane Technologies by 1.7% during the first quarter. Geode Capital Management LLC now owns 4,765,976 shares of the company’s stock worth $874,863,000 after purchasing an additional 80,607 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its position in shares of Trane Technologies by 2.6% during the third quarter. Ameriprise Financial Inc. now owns 4,050,779 shares of the company’s stock worth $821,952,000 after purchasing an additional 103,823 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Transactions at Trane Technologies

In other news, SVP Keith A. Sultana sold 1,983 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $272.26, for a total transaction of $539,891.58. Following the transaction, the senior vice president now directly owns 42,575 shares in the company, valued at approximately $11,591,469.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Paul A. Camuti sold 508 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $273.34, for a total transaction of $138,856.72. Following the transaction, the executive vice president now directly owns 89,447 shares in the company, valued at approximately $24,449,442.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Keith A. Sultana sold 1,983 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $272.26, for a total transaction of $539,891.58. Following the transaction, the senior vice president now owns 42,575 shares in the company, valued at $11,591,469.50. The disclosure for this sale can be found here. Insiders have sold 29,874 shares of company stock worth $8,462,825 in the last ninety days. Insiders own 0.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on TT shares. Stephens lifted their price target on shares of Trane Technologies from $235.00 to $280.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 6th. Royal Bank of Canada lifted their price target on shares of Trane Technologies from $231.00 to $246.00 and gave the stock a “sector perform” rating in a research report on Friday, February 2nd. Barclays lifted their price target on shares of Trane Technologies from $286.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. The Goldman Sachs Group lifted their price target on shares of Trane Technologies from $253.00 to $287.00 and gave the stock a “neutral” rating in a research report on Monday, February 5th. Finally, Citigroup boosted their price objective on shares of Trane Technologies from $309.00 to $355.00 and gave the company a “buy” rating in a research report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $251.83.

Trane Technologies Trading Down 0.4 %

Shares of NYSE:TT opened at $288.27 on Friday. The company’s 50-day moving average price is $289.67 and its two-hundred day moving average price is $251.30. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.13 and a quick ratio of 0.78. Trane Technologies plc has a one year low of $162.04 and a one year high of $306.98. The stock has a market capitalization of $65.46 billion, a PE ratio of 32.80, a price-to-earnings-growth ratio of 2.43 and a beta of 1.05.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Thursday, February 1st. The company reported $2.17 EPS for the quarter, topping the consensus estimate of $2.13 by $0.04. Trane Technologies had a net margin of 11.45% and a return on equity of 32.01%. The firm had revenue of $4.42 billion for the quarter, compared to analysts’ expectations of $4.43 billion. During the same period in the previous year, the firm posted $1.82 EPS. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, equities analysts forecast that Trane Technologies plc will post 10.2 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be paid a dividend of $0.84 per share. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $3.36 annualized dividend and a dividend yield of 1.17%. Trane Technologies’s dividend payout ratio is presently 38.23%.

Trane Technologies 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.