Centricity Wealth Management LLC Takes Position in Trane Technologies plc (NYSE:TT)

Centricity Wealth Management LLC acquired a new position in shares of Trane Technologies plc (NYSE:TT) in the fourth quarter, HoldingsChannel reports. The fund acquired 149 shares of the company’s stock, valued at approximately $55,000.

Other large investors have also made changes to their positions in the company. Massachusetts Financial Services Co. MA lifted its position in 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 valued at $991,460,000 after buying an additional 671,691 shares in the last quarter. FMR LLC raised its stake in shares of Trane Technologies by 4.0% in the 3rd quarter. FMR LLC now owns 10,337,672 shares of the company’s stock valued at $4,018,563,000 after acquiring an additional 397,537 shares during the period. Nordea Investment Management AB lifted its holdings in shares of Trane Technologies by 42.9% during the 4th quarter. Nordea Investment Management AB now owns 978,275 shares of the company’s stock valued at $361,874,000 after acquiring an additional 293,916 shares in the last quarter. AustralianSuper Pty Ltd boosted its position in Trane Technologies by 470.9% during the 4th quarter. AustralianSuper Pty Ltd now owns 179,794 shares of the company’s stock worth $66,407,000 after purchasing an additional 148,302 shares during the period. Finally, ING Groep NV increased its holdings in Trane Technologies by 72.3% in the 3rd quarter. ING Groep NV now owns 255,681 shares of the company’s stock valued at $99,391,000 after purchasing an additional 107,323 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TT has been the topic of a number of recent research reports. Royal Bank of Canada boosted their price objective on Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a research note on Friday, January 3rd. JPMorgan Chase & Co. upped their price target on Trane Technologies from $387.00 to $396.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Melius downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price objective for the company. in a research report on Tuesday, January 28th. Melius Research restated a “hold” rating and issued a $398.00 target price on shares of Trane Technologies in a research note on Tuesday, January 28th. Finally, Wells Fargo & Company lowered their price target on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a report on Friday, January 31st. One research 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. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $415.25.

Insider Transactions at Trane Technologies

In related news, SVP Mairead Magner sold 198 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $357.61, for a total transaction of $70,806.78. Following the completion of the transaction, the senior vice president now directly owns 13,401 shares in the company, valued at $4,792,331.61. This represents a 1.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Christopher J. Kuehn sold 770 shares of the firm’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $358.39, for a total value of $275,960.30. Following the completion of the sale, the chief financial officer now owns 62,221 shares in the company, valued at $22,299,384.19. The trade was a 1.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,563 shares of company stock worth $4,388,966. 0.38% of the stock is currently owned by insiders.

Trane Technologies Stock Down 3.3 %

NYSE:TT opened at $354.56 on Friday. The stock has a 50-day simple moving average of $374.82 and a 200 day simple moving average of $379.44. Trane Technologies plc has a one year low of $279.00 and a one year high of $422.00. The company has a market capitalization 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. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21.

Trane Technologies (NYSE:TT) last issued its quarterly 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%. Sell-side analysts predict that Trane Technologies plc will post 12.83 EPS 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 represents a $3.76 dividend on an annualized basis and a dividend yield of 1.06%. This is a boost from Trane Technologies’s previous quarterly dividend of $0.84. The ex-dividend date is Friday, March 7th. Trane Technologies’s dividend payout ratio is 29.87%.

Trane Technologies 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.