Valley Wealth Managers Inc. Raises Position in Trane Technologies plc (NYSE:TT)

Valley Wealth Managers Inc. increased its holdings in shares of Trane Technologies plc (NYSE:TT) by 840.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,458 shares of the company’s stock after buying an additional 1,303 shares during the quarter. Valley Wealth Managers Inc.’s holdings in Trane Technologies were worth $539,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Cobblestone Capital Advisors LLC NY grew its stake in shares of Trane Technologies by 1.8% during the third quarter. Cobblestone Capital Advisors LLC NY now owns 1,490 shares of the company’s stock worth $579,000 after acquiring an additional 27 shares during the last quarter. Wescott Financial Advisory Group LLC boosted its stake in Trane Technologies by 1.7% in the 3rd quarter. Wescott Financial Advisory Group LLC now owns 1,723 shares of the company’s stock worth $670,000 after purchasing an additional 28 shares in the last quarter. Secured Retirement Advisors LLC boosted its stake in Trane Technologies by 0.6% in the 4th quarter. Secured Retirement Advisors LLC now owns 4,628 shares of the company’s stock worth $1,709,000 after purchasing an additional 28 shares in the last quarter. Greenleaf Trust boosted its stake in Trane Technologies by 0.5% in the 3rd quarter. Greenleaf Trust now owns 5,852 shares of the company’s stock worth $2,275,000 after purchasing an additional 29 shares in the last quarter. Finally, First Citizens Financial Corp boosted its stake in Trane Technologies by 4.6% in the 4th quarter. First Citizens Financial Corp now owns 656 shares of the company’s stock worth $242,000 after purchasing an additional 29 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Trane Technologies Price Performance

Shares of NYSE TT opened at $362.54 on Wednesday. The firm has a market cap of $81.58 billion, a PE ratio of 32.23, a PEG ratio of 2.44 and a beta of 1.05. The firm has a fifty day moving average of $376.98 and a 200 day moving average of $379.31. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21. Trane Technologies plc has a one year low of $270.50 and a one year high of $422.00.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Thursday, January 30th. The company reported $2.61 EPS for the quarter, topping the consensus estimate of $2.52 by $0.09. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. As a group, research analysts predict that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be issued a dividend of $0.94 per share. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Friday, March 7th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.04%. Trane Technologies’s dividend payout ratio is presently 29.87%.

Insider Transactions at Trane Technologies

In related news, SVP Mairead Magner sold 198 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total value of $70,806.78. Following the completion of the sale, the senior vice president now owns 13,401 shares of the company’s stock, valued at approximately $4,792,331.61. This represents a 1.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Evan M. Turtz sold 318 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $358.12, for a total transaction of $113,882.16. Following the completion of the sale, the senior vice president now directly owns 20,513 shares of the company’s stock, valued at $7,346,115.56. This represents a 1.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,563 shares of company stock valued at $4,388,966 over the last 90 days. 0.38% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on TT shares. Royal Bank of Canada lifted their target price on shares of Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a research note on Friday, January 3rd. Robert W. Baird lowered their target price on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Melius Research reiterated a “hold” rating and issued a $398.00 target price on shares of Trane Technologies in a research note on Tuesday, January 28th. HSBC cut shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 target price for the company. in a research note on Thursday, October 31st. Finally, Wells Fargo & Company decreased their price objective on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $415.25.

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.