Valley Wealth Managers Inc. Acquires 1,303 Shares of Trane Technologies plc (NYSE:TT)

Valley Wealth Managers Inc. grew its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 840.6% in the 4th quarter, according to the company in its most recent 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 institutional investors have also made changes to their positions in the company. International Assets Investment Management LLC lifted its holdings in shares of Trane Technologies by 35,914.4% during the third quarter. International Assets Investment Management LLC now owns 1,645,137 shares of the company's stock worth $639,514,000 after buying an additional 1,640,569 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Trane Technologies by 35.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,550,511 shares of the company's stock worth $991,460,000 after buying an additional 671,691 shares during the last quarter. FMR LLC increased its position in shares of Trane Technologies by 4.0% during 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 during the period. Nordea Investment Management AB increased its position in shares of Trane Technologies by 42.9% during 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 during the period. Finally, Assenagon Asset Management S.A. increased its position in shares of Trane Technologies by 76.9% during the third quarter. Assenagon Asset Management S.A. now owns 417,193 shares of the company's stock valued at $162,175,000 after purchasing an additional 181,335 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Trane Technologies news, SVP Mairead Magner sold 4,329 shares of the stock in a transaction dated 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 transaction, the senior vice president now owns 12,893 shares of the company's stock, valued at approximately $5,363,488. This represents a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Christopher J. Kuehn sold 876 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.42, for a total value of $313,099.92. Following the completion of the transaction, the chief financial officer now directly owns 63,841 shares in the company, valued at $22,818,050.22. The trade was a 1.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,563 shares of company stock valued at $4,388,966 over the last 90 days. 0.38% of the stock is owned by company insiders.

Trane Technologies Price Performance

Shares of TT stock traded down $12.08 during trading hours on Friday, hitting $354.56. 1,163,504 shares of the company's stock were exchanged, compared to its average volume of 1,485,568. The stock's 50-day moving average is $375.72 and its 200-day moving average is $379.16. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88. The stock has a market cap of $79.52 billion, a price-to-earnings ratio of 31.52, a price-to-earnings-growth ratio of 2.53 and a beta of 1.05. Trane Technologies plc has a 52 week low of $279.00 and a 52 week high of $422.00.

Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly earnings results 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%. As a group, research analysts forecast 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. Stockholders of record on Friday, March 7th will be paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 1.06%. The ex-dividend date of this dividend is Friday, March 7th. This is a positive change from Trane Technologies's previous quarterly dividend of $0.84. Trane Technologies's dividend payout ratio is 29.87%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Barclays boosted their price objective on Trane Technologies from $440.00 to $500.00 and gave the company an "overweight" rating in a research report on Thursday, December 5th. Hsbc Global Res cut Trane Technologies from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 31st. Melius cut Trane Technologies from a "buy" rating to a "hold" rating and set a $398.00 price objective on the stock. in a research report on Tuesday, January 28th. Citigroup lowered their price objective on Trane Technologies from $478.00 to $476.00 and set a "buy" rating on the stock in a research report on Monday, January 13th. Finally, Wells Fargo & Company lowered their price target on Trane Technologies from $380.00 to $360.00 and set an "underweight" 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. According to MarketBeat, Trane Technologies currently has an average rating of "Hold" and an average price target of $415.25.

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.