Moran Wealth Management LLC Has $48.08 Million Stock Holdings in Trane Technologies plc $TT

Moran Wealth Management LLC decreased its position in shares of Trane Technologies plc (NYSE:TT) by 3.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 115,374 shares of the company’s stock after selling 3,775 shares during the quarter. Trane Technologies makes up 1.5% of Moran Wealth Management LLC’s holdings, making the stock its 4th largest holding. Moran Wealth Management LLC’s holdings in Trane Technologies were worth $48,081,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Tucker Asset Management LLC bought a new stake in shares of Trane Technologies in the fourth quarter valued at about $25,000. Hilton Head Capital Partners LLC bought a new position in Trane Technologies during the 4th quarter worth about $32,000. JPL Wealth Management LLC bought a new position in Trane Technologies during the 3rd quarter worth about $32,000. Physician Wealth Advisors Inc. increased its position in Trane Technologies by 192.6% during the 1st quarter. Physician Wealth Advisors Inc. now owns 79 shares of the company’s stock valued at $33,000 after purchasing an additional 52 shares during the period. Finally, Kemnay Advisory Services Inc. bought a new stake in shares of Trane Technologies in the 4th quarter valued at about $34,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on TT shares. KeyCorp upped their price target on shares of Trane Technologies from $525.00 to $555.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. BNP Paribas Exane assumed coverage on shares of Trane Technologies in a report on Tuesday, April 14th. They set an “outperform” rating and a $550.00 price objective on the stock. Citigroup boosted their price objective on shares of Trane Technologies from $525.00 to $570.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. Barclays upped their target price on Trane Technologies from $507.00 to $585.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Trane Technologies in a research report on Monday, April 20th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Trane Technologies presently has an average rating of “Moderate Buy” and an average target price of $509.12.

Insider Activity

In other news, CFO Christopher J. Kuehn sold 8,619 shares of the firm’s stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $450.00, for a total value of $3,878,550.00. Following the completion of the transaction, the chief financial officer directly owned 60,576 shares in the company, valued at $27,259,200. This trade represents a 12.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Donald E. Simmons sold 4,593 shares of Trane Technologies stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $500.00, for a total value of $2,296,500.00. Following the sale, the insider directly owned 3,819 shares of the company’s stock, valued at $1,909,500. This trade represents a 54.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.43% of the company’s stock.

Trane Technologies Price Performance

Shares of TT opened at $477.76 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.10 and a quick ratio of 0.77. The company’s fifty day moving average price is $470.69 and its 200-day moving average price is $440.93. Trane Technologies plc has a 1-year low of $348.06 and a 1-year high of $505.87. The firm has a market capitalization of $105.61 billion, a PE ratio of 36.95, a price-to-earnings-growth ratio of 2.20 and a beta of 1.19.

Trane Technologies (NYSE:TT) last issued its earnings results on Friday, May 1st. The company reported $2.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.10. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The company had revenue of $4.97 billion during the quarter, compared to analyst estimates of $4.81 billion. During the same quarter last year, the business posted $2.45 EPS. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. On average, equities research analysts predict that Trane Technologies plc will post 14.9 EPS for the current year.

Trane Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 4th will be issued a $1.05 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 0.9%. Trane Technologies’s dividend payout ratio is currently 32.48%.

Trane Technologies Company Profile

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.