Consolidated Planning Corp Grows Position in Trane Technologies plc (NYSE:TT)

Consolidated Planning Corp lifted its holdings in Trane Technologies plc (NYSE:TT) by 8.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 14,252 shares of the company’s stock after purchasing an additional 1,091 shares during the period. Consolidated Planning Corp’s holdings in Trane Technologies were worth $5,264,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ritholtz Wealth Management grew its holdings in Trane Technologies by 12.5% in the 3rd quarter. Ritholtz Wealth Management now owns 1,226 shares of the company’s stock valued at $477,000 after buying an additional 136 shares in the last quarter. Procyon Advisors LLC grew its holdings in shares of Trane Technologies by 4.0% in the third quarter. Procyon Advisors LLC now owns 927 shares of the company’s stock valued at $360,000 after purchasing an additional 36 shares during the period. Creative Planning increased its position in Trane Technologies by 5.8% during the third quarter. Creative Planning now owns 62,756 shares of the company’s stock worth $24,395,000 after purchasing an additional 3,446 shares during the last quarter. Swedbank AB raised its stake in Trane Technologies by 2.8% during the third quarter. Swedbank AB now owns 743,794 shares of the company’s stock worth $289,135,000 after purchasing an additional 20,400 shares during the period. Finally, Braun Bostich & Associates Inc. acquired a new position in Trane Technologies in the 3rd quarter valued at about $208,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Robert W. Baird cut their price target on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Hsbc Global Res cut Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Barclays upped their price target on Trane Technologies from $440.00 to $500.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Mizuho raised their price objective on Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Finally, Melius Research reaffirmed a “hold” rating and issued a $398.00 target price on shares of Trane Technologies in a research report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $415.25.

Insider Buying and Selling

In other Trane Technologies news, SVP Mairead Magner sold 4,329 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $416.00, for a total value of $1,800,864.00. Following the sale, the senior vice president now directly owns 12,893 shares in the company, valued at $5,363,488. This trade represents a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Evan M. Turtz sold 318 shares of the company’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $358.12, for a total value of $113,882.16. Following the transaction, the senior vice president now directly owns 20,513 shares of the company’s stock, valued at approximately $7,346,115.56. This represents a 1.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,563 shares of company stock worth $4,388,966. Company insiders own 0.38% of the company’s stock.

Trane Technologies Price Performance

Trane Technologies stock opened at $361.80 on Thursday. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. Trane Technologies plc has a 52-week low of $265.37 and a 52-week high of $422.00. The firm has a market cap of $81.41 billion, a PE ratio of 32.16, a price-to-earnings-growth ratio of 2.44 and a beta of 1.05. The company’s 50 day moving average is $381.60 and its two-hundred day moving average is $378.14.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) 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%. On average, research analysts expect that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Increases Dividend

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

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.