GDS Wealth Management Buys 4,933 Shares of Trane Technologies plc (NYSE:TT)

GDS Wealth Management lifted its holdings in shares of Trane Technologies plc (NYSE:TT) by 13.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,729 shares of the company’s stock after purchasing an additional 4,933 shares during the period. Trane Technologies comprises approximately 1.4% of GDS Wealth Management’s investment portfolio, making the stock its 29th largest holding. GDS Wealth Management’s holdings in Trane Technologies were worth $10,422,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC grew its holdings in shares of Trane Technologies by 1.9% during the third quarter. Commonwealth Equity Services LLC now owns 41,603 shares of the company’s stock worth $8,442,000 after purchasing an additional 793 shares in the last quarter. Stratos Wealth Partners LTD. grew its holdings in shares of Trane Technologies by 2.6% during the third quarter. Stratos Wealth Partners LTD. now owns 4,586 shares of the company’s stock worth $931,000 after purchasing an additional 117 shares in the last quarter. J.W. Cole Advisors Inc. lifted its position in Trane Technologies by 5.2% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 1,328 shares of the company’s stock worth $270,000 after buying an additional 66 shares during the last quarter. Brown Advisory Inc. lifted its position in Trane Technologies by 69.7% in the 3rd quarter. Brown Advisory Inc. now owns 36,340 shares of the company’s stock worth $7,374,000 after buying an additional 14,931 shares during the last quarter. Finally, Verdence Capital Advisors LLC lifted its position in Trane Technologies by 6.3% in the 3rd quarter. Verdence Capital Advisors LLC now owns 1,307 shares of the company’s stock worth $265,000 after buying an additional 78 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Mizuho boosted their target price on Trane Technologies from $280.00 to $325.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. TD Cowen boosted their target price on Trane Technologies from $325.00 to $360.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. JPMorgan Chase & Co. boosted their target price on Trane Technologies from $247.00 to $300.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Robert W. Baird boosted their target price on Trane Technologies from $315.00 to $344.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Finally, Royal Bank of Canada boosted their price objective on Trane Technologies from $231.00 to $246.00 and gave the company a “sector perform” rating in a research report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Trane Technologies presently has a consensus rating of “Hold” and a consensus target price of $300.54.

Trane Technologies Trading Up 1.6 %

Shares of NYSE:TT traded up $5.32 on Thursday, hitting $332.92. The company had a trading volume of 807,604 shares, compared to its average volume of 1,020,201. Trane Technologies plc has a 1 year low of $162.04 and a 1 year high of $333.42. 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’s 50-day simple moving average is $298.38 and its two-hundred day simple moving average is $261.10. The firm has a market capitalization of $75.36 billion, a price-to-earnings ratio of 35.57, a P/E/G ratio of 2.54 and a beta of 1.01.

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

Trane Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date is Friday, June 7th. Trane Technologies’s dividend payout ratio (DPR) is presently 35.90%.

Insider Buying and Selling

In other news, CFO Christopher J. Kuehn sold 3,762 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $286.48, for a total transaction of $1,077,737.76. Following the transaction, the chief financial officer now directly owns 61,691 shares of the company’s stock, valued at $17,673,237.68. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Trane Technologies news, CFO Christopher J. Kuehn sold 3,762 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $286.48, for a total transaction of $1,077,737.76. Following the transaction, the chief financial officer now directly owns 61,691 shares in the company, valued at approximately $17,673,237.68. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO David S. Regnery sold 6,990 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $286.19, for a total transaction of $2,000,468.10. Following the completion of the sale, the chief executive officer now owns 113,874 shares of the company’s stock, valued at approximately $32,589,600.06. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,254 shares of company stock valued at $7,484,643. Company insiders own 0.39% of the company’s stock.

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.