Diversify Wealth Management LLC Buys New Stake in Trane Technologies plc $TT

Diversify Wealth Management LLC purchased a new stake in shares of Trane Technologies plc (NYSE:TT) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 3,510 shares of the company’s stock, valued at approximately $1,463,000.

Several other institutional investors have also bought and sold shares of TT. Tucker Asset Management LLC bought a new stake in shares of Trane Technologies in the 4th quarter worth about $25,000. Hilton Head Capital Partners LLC bought a new position in shares of Trane Technologies in the 4th quarter valued at about $32,000. JPL Wealth Management LLC bought a new stake in Trane Technologies during the third quarter worth approximately $32,000. Physician Wealth Advisors Inc. raised its position in Trane Technologies by 192.6% during the first 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. purchased a new stake in Trane Technologies during the fourth quarter valued at approximately $34,000. Institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on TT. BNP Paribas Exane assumed coverage on Trane Technologies in a report on Tuesday, April 14th. They issued an “outperform” rating and a $550.00 target price for the company. Sanford C. Bernstein set a $555.00 price target on Trane Technologies in a report on Thursday, July 9th. Evercore assumed coverage on Trane Technologies in a research report on Monday, April 13th. They issued an “outperform” rating and a $535.00 price target for the company. Citigroup lifted 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. Finally, Royal Bank Of Canada boosted their price objective on shares of Trane Technologies from $440.00 to $501.00 and gave the company a “sector perform” rating in a research report on Friday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $512.50.

Insiders Place Their Bets

In other news, insider Donald E. Simmons sold 4,593 shares of Trane Technologies stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $500.00, for a total transaction of $2,296,500.00. Following the completion of the sale, the insider directly owned 3,819 shares in the company, valued at approximately $1,909,500. This trade represents a 54.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is currently owned by insiders.

Trane Technologies Stock Up 0.7%

Shares of NYSE:TT opened at $483.42 on Wednesday. The firm has a market capitalization of $106.86 billion, a PE ratio of 37.39, a price-to-earnings-growth ratio of 2.21 and a beta of 1.19. The business has a 50 day simple moving average of $469.89 and a two-hundred day simple moving average of $445.63. Trane Technologies plc has a 1 year low of $348.06 and a 1 year high of $505.87. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.10 and a quick ratio of 0.77.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Friday, May 1st. The company reported $2.63 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.10. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The firm had revenue of $4.97 billion for the quarter, compared to the consensus estimate of $4.81 billion. During the same period in the prior year, the business posted $2.45 earnings per share. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. On average, equities analysts predict that Trane Technologies plc will post 14.89 EPS for the current year.

Trane Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, September 4th will be paid a $1.05 dividend. The ex-dividend date is Friday, September 4th. This represents a $4.20 dividend on an annualized basis and a yield of 0.9%. Trane Technologies’s dividend payout ratio (DPR) is presently 32.48%.

Trane Technologies 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.