Liberty Wealth Management LLC Cuts Position in Trane Technologies plc (NYSE:TT)

Liberty Wealth Management LLC lowered its position in shares of Trane Technologies plc (NYSE:TT) by 4.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 888 shares of the company’s stock after selling 37 shares during the period. Liberty Wealth Management LLC’s holdings in Trane Technologies were worth $328,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in TT. Swedbank AB grew its position in shares of 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 buying an additional 20,400 shares in the last quarter. CWA Asset Management Group LLC bought a new stake in shares of Trane Technologies during the third quarter valued at about $386,000. Assetmark Inc. lifted its holdings in Trane Technologies by 1.8% in the third quarter. Assetmark Inc. now owns 18,801 shares of the company’s stock worth $7,309,000 after purchasing an additional 327 shares during the period. Sigma Planning Corp lifted its holdings in Trane Technologies by 22.4% in the third quarter. Sigma Planning Corp now owns 4,890 shares of the company’s stock worth $1,901,000 after purchasing an additional 896 shares during the period. Finally, Ashton Thomas Securities LLC acquired a new stake in Trane Technologies in the third quarter worth about $84,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Stock Performance

Shares of NYSE:TT opened at $334.57 on Wednesday. The firm has a 50 day moving average of $366.61 and a 200 day moving average of $380.39. The company has a market capitalization of $75.04 billion, a price-to-earnings ratio of 29.74, 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 52 week low of $281.46 and a 52 week high of $422.00.

Trane Technologies (NYSE:TT) last posted 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 net margin of 12.94% and a return on equity of 35.37%. On average, sell-side analysts predict that Trane Technologies plc will post 12.83 earnings per share 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. Shareholders of record on Friday, March 7th will be issued a dividend of $0.94 per share. This is an increase from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend is Friday, March 7th. Trane Technologies’s dividend payout ratio (DPR) is 33.42%.

Analysts Set New Price Targets

A number of analysts have commented on TT shares. Royal Bank of Canada upped their price objective on shares of Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a research note on Friday, January 3rd. Wells Fargo & Company lowered their target price 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. Melius Research restated a “hold” rating and set a $398.00 target price on shares of Trane Technologies in a report on Tuesday, January 28th. JPMorgan Chase & Co. boosted their target price on Trane Technologies from $387.00 to $396.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Finally, UBS Group lowered their price target on 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 issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $413.69.

Insider Transactions at Trane Technologies

In other news, SVP Evan M. Turtz sold 318 shares of Trane Technologies stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $358.12, for a total value of $113,882.16. Following the transaction, the senior vice president now owns 20,513 shares of the company’s stock, valued at $7,346,115.56. The trade was a 1.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Christopher J. Kuehn sold 876 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $357.42, for a total transaction of $313,099.92. Following the completion of the transaction, the chief financial officer now owns 63,841 shares of the company’s stock, valued at approximately $22,818,050.22. The trade was a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,234 shares of company stock worth $2,588,102 over the last ninety days. 0.38% of the stock is currently owned by corporate insiders.

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.