Trane Technologies plc (NYSE:TT) Stock Holdings Lifted by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC grew its holdings in Trane Technologies plc (NYSE:TT - Free Report) by 176.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,445 shares of the company's stock after purchasing an additional 922 shares during the quarter. Axxcess Wealth Management LLC's holdings in Trane Technologies were worth $534,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in TT. Global Wealth Strategies & Associates purchased a new position in Trane Technologies in the fourth quarter valued at approximately $26,000. Sound Income Strategies LLC boosted its holdings in shares of Trane Technologies by 1,314.3% in the 4th quarter. Sound Income Strategies LLC now owns 99 shares of the company's stock valued at $37,000 after buying an additional 92 shares in the last quarter. Flagship Wealth Advisors LLC purchased a new position in shares of Trane Technologies in the 4th quarter valued at $37,000. Golden State Wealth Management LLC acquired a new stake in Trane Technologies during the 4th quarter worth $39,000. Finally, Legacy Investment Solutions LLC purchased a new stake in Trane Technologies in the third quarter valued at $44,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Melius cut Trane Technologies from a "buy" rating to a "hold" rating and set a $398.00 target price on the stock. in a research report on Tuesday, January 28th. Wells Fargo & Company reduced their price objective on Trane Technologies from $380.00 to $360.00 and set an "underweight" rating for the company in a research note on Friday, January 31st. Citigroup lowered their target price on shares of Trane Technologies from $478.00 to $476.00 and set a "buy" rating on the stock in a research report on Monday, January 13th. JPMorgan Chase & Co. upped their price target on shares of Trane Technologies from $387.00 to $396.00 and gave the company a "neutral" rating in a research report on Friday, January 31st. Finally, UBS Group lowered their price objective on shares of Trane Technologies from $500.00 to $470.00 and set a "buy" rating on the stock in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, Trane Technologies has an average rating of "Hold" and an average target price of $413.69.

Remove Ads

Insider Activity

In related news, SVP Evan M. Turtz sold 318 shares of the business'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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Mairead Magner sold 198 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $357.61, for a total value of $70,806.78. Following the sale, the senior vice president now owns 13,401 shares in the company, valued at $4,792,331.61. The trade was a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,234 shares of company stock worth $2,588,102 over the last ninety days. Corporate insiders own 0.38% of the company's stock.

Trane Technologies Price Performance

Shares of Trane Technologies stock traded down $11.71 during trading on Wednesday, reaching $352.29. The company's stock had a trading volume of 2,686,815 shares, compared to its average volume of 1,176,119. The business has a 50 day moving average price of $360.50 and a 200-day moving average price of $380.25. The company has a market capitalization of $79.01 billion, a P/E ratio of 31.31, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08. 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 12-month low of $286.32 and a 12-month high of $422.00.

Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly 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%. As a group, sell-side analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be paid a dividend of $0.94 per share. This is an increase from Trane Technologies's previous quarterly dividend of $0.84. The ex-dividend date is Friday, March 7th. This represents a $3.76 annualized dividend and a yield of 1.07%. Trane Technologies's payout ratio is 33.42%.

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.