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

Gilliland Jeter Wealth Management LLC acquired a new stake in Trane Technologies plc (NYSE:TT) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 1,029 shares of the company’s stock, valued at approximately $251,000.

Several other hedge funds and other institutional investors have also made changes to their positions in TT. Avior Wealth Management LLC raised its position in shares of Trane Technologies by 58.0% during the 3rd quarter. Avior Wealth Management LLC now owns 177 shares of the company’s stock worth $36,000 after acquiring an additional 65 shares in the last quarter. Caprock Group LLC raised its position in shares of Trane Technologies by 15.8% during the 3rd quarter. Caprock Group LLC now owns 1,528 shares of the company’s stock worth $310,000 after acquiring an additional 208 shares in the last quarter. Handelsbanken Fonder AB raised its position in shares of Trane Technologies by 5.8% during the 3rd quarter. Handelsbanken Fonder AB now owns 37,311 shares of the company’s stock worth $7,571,000 after acquiring an additional 2,037 shares in the last quarter. Connecticut Wealth Management LLC acquired a new stake in shares of Trane Technologies during the 3rd quarter worth about $325,000. Finally, Ballentine Partners LLC raised its position in shares of Trane Technologies by 3.6% during the 3rd quarter. Ballentine Partners LLC now owns 1,802 shares of the company’s stock worth $366,000 after acquiring an additional 62 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Performance

Shares of TT stock traded up $5.16 during midday trading on Friday, hitting $304.53. The company had a trading volume of 961,790 shares, compared to its average volume of 833,800. The company’s 50 day simple moving average is $292.22 and its 200 day simple moving average is $254.25. Trane Technologies plc has a 52-week low of $162.04 and a 52-week high of $306.98. The stock has a market cap of $69.15 billion, a price-to-earnings ratio of 34.65, a PEG ratio of 2.53 and a beta of 1.05. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.13 and a quick ratio of 0.78.

Trane Technologies (NYSE:TT) last announced its earnings results on Thursday, February 1st. The company reported $2.17 earnings per share for the quarter, beating the consensus estimate of $2.13 by $0.04. Trane Technologies had a return on equity of 32.01% and a net margin of 11.45%. The company had revenue of $4.42 billion for the quarter, compared to the consensus estimate of $4.43 billion. During the same period last year, the business posted $1.82 EPS. The company’s revenue was up 8.6% on a year-over-year basis. Research analysts anticipate that Trane Technologies plc will post 10.2 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be paid a $0.84 dividend. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.10%. Trane Technologies’s dividend payout ratio (DPR) is presently 38.23%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TT. Barclays raised their target price on Trane Technologies from $286.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. The Goldman Sachs Group lifted their price target on Trane Technologies from $253.00 to $287.00 and gave the stock a “neutral” rating in a research report on Monday, February 5th. Royal Bank of Canada lifted their price target on Trane Technologies from $231.00 to $246.00 and gave the stock a “sector perform” rating in a research report on Friday, February 2nd. Citigroup lifted their price target on Trane Technologies from $309.00 to $355.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Finally, Stephens lifted their price target on Trane Technologies from $235.00 to $280.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 6th. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, Trane Technologies has a consensus rating of “Hold” and an average price target of $251.83.

Insider Activity at Trane Technologies

In related news, EVP Paul A. Camuti sold 508 shares of Trane Technologies stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $273.34, for a total value of $138,856.72. Following the sale, the executive vice president now directly owns 89,447 shares in the company, valued at $24,449,442.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Trane Technologies news, EVP Paul A. Camuti sold 508 shares of the business’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $273.34, for a total transaction of $138,856.72. Following the sale, the executive vice president now directly owns 89,447 shares in the company, valued at $24,449,442.98. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 value of $2,000,468.10. Following the sale, the chief executive officer now owns 113,874 shares in the company, valued at $32,589,600.06. The disclosure for this sale can be found here. Insiders have sold a total of 29,874 shares of company stock worth $8,462,825 over the last three months. 0.39% of the stock is currently 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.