Oak Harbor Wealth Partners LLC Sells 684 Shares of Trane Technologies plc (NYSE:TT)

Oak Harbor Wealth Partners LLC lessened its position in shares of Trane Technologies plc (NYSE:TT) by 18.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,035 shares of the company’s stock after selling 684 shares during the period. Oak Harbor Wealth Partners LLC’s holdings in Trane Technologies were worth $740,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. US Bancorp DE grew its holdings in Trane Technologies by 2.6% in the third quarter. US Bancorp DE now owns 64,425 shares of the company’s stock worth $13,073,000 after purchasing an additional 1,610 shares during the period. MGO One Seven LLC boosted its holdings in Trane Technologies by 3.2% during the third quarter. MGO One Seven LLC now owns 3,981 shares of the company’s stock worth $808,000 after purchasing an additional 123 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in Trane Technologies by 17.5% during the third quarter. Nomura Asset Management Co. Ltd. now owns 67,975 shares of the company’s stock worth $13,793,000 after purchasing an additional 10,116 shares during the last quarter. Corient Private Wealth LLC boosted its holdings in Trane Technologies by 1.2% during the third quarter. Corient Private Wealth LLC now owns 239,557 shares of the company’s stock worth $48,609,000 after purchasing an additional 2,769 shares during the last quarter. Finally, Signaturefd LLC boosted its holdings in Trane Technologies by 7.4% during the third quarter. Signaturefd LLC now owns 5,346 shares of the company’s stock worth $1,085,000 after purchasing an additional 368 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

TT has been the topic of several research reports. The Goldman Sachs Group lifted their price objective on shares of Trane Technologies from $287.00 to $326.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. TD Cowen lifted their price objective on shares of Trane Technologies from $325.00 to $360.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Wells Fargo & Company lifted their price objective on shares of Trane Technologies from $281.00 to $295.00 and gave the stock an “underweight” rating in a research report on Thursday, May 2nd. Mizuho lifted their price objective on shares of Trane Technologies from $280.00 to $325.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Finally, Barclays boosted their price target on shares of Trane Technologies from $286.00 to $325.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Trane Technologies has an average rating of “Hold” and a consensus target price of $300.54.

Trane Technologies Trading Up 0.3 %

Shares of NYSE:TT traded up $1.14 on Thursday, hitting $334.67. The company had a trading volume of 330,564 shares, compared to its average volume of 999,492. The firm’s 50-day simple moving average is $307.42 and its two-hundred day simple moving average is $270.56. Trane Technologies plc has a 1 year low of $162.04 and a 1 year high of $336.66. The company has a quick ratio of 0.74, a current ratio of 1.13 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $75.75 billion, a price-to-earnings ratio of 35.92, a P/E/G ratio of 2.67 and a beta of 1.01.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $1.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.30. Trane Technologies had a net margin of 11.81% and a return on equity of 32.78%. The company had revenue of $4.22 billion during the quarter, compared to analysts’ expectations of $3.99 billion. During the same period last year, the company posted $1.41 EPS. Trane Technologies’s revenue was up 15.0% on a year-over-year basis. Equities analysts anticipate that Trane Technologies plc will post 10.48 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be paid a dividend of $0.84 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $3.36 dividend on an annualized basis and a yield of 1.00%. Trane Technologies’s dividend payout ratio is currently 35.90%.

Insider Buying and Selling at Trane Technologies

In other news, CEO David S. Regnery sold 6,990 shares of Trane Technologies stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $286.19, for a total value of $2,000,468.10. Following the completion of the sale, the chief executive officer now directly owns 113,874 shares in the company, valued at $32,589,600.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Trane Technologies news, SVP Evan M. Turtz sold 2,821 shares of Trane Technologies stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $288.33, for a total transaction of $813,378.93. Following the transaction, the senior vice president now owns 20,729 shares of the company’s stock, valued at $5,976,792.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David S. Regnery sold 6,990 shares of the business’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $286.19, for a total transaction of $2,000,468.10. Following the completion of the transaction, the chief executive officer now directly owns 113,874 shares in the company, valued at approximately $32,589,600.06. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,979 shares of company stock worth $6,603,372. 0.39% of the stock is owned by corporate insiders.

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.