King Wealth Management Group Boosts Stock Position in Trane Technologies plc (NYSE:TT)

King Wealth Management Group boosted its position in Trane Technologies plc (NYSE:TT - Free Report) by 140.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,637 shares of the company's stock after buying an additional 6,803 shares during the quarter. King Wealth Management Group's holdings in Trane Technologies were worth $4,298,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of TT. Raymond James Financial Inc. purchased a new position in shares of Trane Technologies in the fourth quarter valued at $611,322,000. Massachusetts Financial Services Co. MA grew its position in shares of Trane Technologies by 35.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,550,511 shares of the company's stock valued at $991,460,000 after purchasing an additional 671,691 shares in the last quarter. FMR LLC grew its position in shares of Trane Technologies by 4.0% in the third quarter. FMR LLC now owns 10,337,672 shares of the company's stock valued at $4,018,563,000 after purchasing an additional 397,537 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich grew its position in shares of Trane Technologies by 455.2% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 427,226 shares of the company's stock valued at $167,977,000 after purchasing an additional 350,277 shares in the last quarter. Finally, Nordea Investment Management AB grew its position in shares of Trane Technologies by 42.9% in the fourth quarter. Nordea Investment Management AB now owns 978,275 shares of the company's stock valued at $361,874,000 after purchasing an additional 293,916 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

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Trane Technologies Trading Down 1.9 %

Shares of NYSE TT traded down $6.67 during midday trading on Tuesday, reaching $344.27. The company had a trading volume of 1,502,763 shares, compared to its average volume of 1,158,893. Trane Technologies plc has a one year low of $286.32 and a one year high of $422.00. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. The firm's fifty day moving average price is $364.02 and its 200-day moving average price is $380.16. The stock has a market cap of $77.22 billion, a PE ratio of 30.60, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08.

Trane Technologies (NYSE:TT - Get Free Report) last released its earnings results on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, beating 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%. On average, equities research analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date is Friday, March 7th. This is an increase from Trane Technologies's previous quarterly dividend of $0.84. Trane Technologies's payout ratio is currently 33.42%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on TT shares. Melius cut Trane Technologies from a "buy" rating to a "hold" rating and set a $398.00 target price for the company. in a research report on Tuesday, January 28th. Melius Research restated a "hold" rating and set a $398.00 target price on shares of Trane Technologies in a research report on Tuesday, January 28th. Northcoast Research started coverage on Trane Technologies in a research report on Friday, November 22nd. They set a "buy" rating and a $500.00 target price for the company. Citigroup reduced their target price on Trane Technologies from $478.00 to $476.00 and set a "buy" rating for the company in a research report on Monday, January 13th. Finally, UBS Group reduced their target price on Trane Technologies from $500.00 to $470.00 and set a "buy" rating for the company 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 given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $413.69.

Insider Activity at Trane Technologies

In other Trane Technologies news, CEO David S. Regnery sold 2,754 shares of the company's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $357.34, for a total transaction of $984,114.36. Following the transaction, the chief executive officer now owns 132,969 shares in the company, valued at approximately $47,515,142.46. This represents a 2.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Christopher J. Kuehn sold 770 shares of the company's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $358.39, for a total value of $275,960.30. Following the transaction, the chief financial officer now owns 62,221 shares in the company, valued at $22,299,384.19. This trade represents a 1.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,234 shares of company stock worth $2,588,102 in the last 90 days. Company insiders own 0.38% of the company's stock.

Trane Technologies Company 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.