Gray Wealth Management Inc. Reduces Holdings in Trane Technologies plc (NYSE:TT)

Gray Wealth Management Inc. trimmed its stake in shares of Trane Technologies plc (NYSE:TT) by 13.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,395 shares of the company’s stock after selling 225 shares during the quarter. Gray Wealth Management Inc.’s holdings in Trane Technologies were worth $340,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Norges Bank purchased a new stake in shares of Trane Technologies during the fourth quarter worth about $526,026,000. Moneta Group Investment Advisors LLC raised its holdings in Trane Technologies by 109,668.5% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 1,963,758 shares of the company’s stock worth $330,088,000 after purchasing an additional 1,961,969 shares in the last quarter. First Trust Advisors LP lifted its position in shares of Trane Technologies by 2,606.5% in the 1st quarter. First Trust Advisors LP now owns 1,081,171 shares of the company’s stock worth $165,095,000 after purchasing an additional 1,041,224 shares during the period. International Assets Investment Management LLC boosted its stake in shares of Trane Technologies by 24,670.7% during the 4th quarter. International Assets Investment Management LLC now owns 1,034,423 shares of the company’s stock valued at $252,296,000 after purchasing an additional 1,030,247 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Trane Technologies by 5.4% during the third quarter. JPMorgan Chase & Co. now owns 17,085,662 shares of the company’s stock valued at $3,466,852,000 after buying an additional 880,583 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Christopher J. Kuehn sold 2,767 shares of the stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $268.31, for a total transaction of $742,413.77. Following the transaction, the chief financial officer now owns 54,788 shares in the company, valued at $14,700,168.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, EVP Paul A. Camuti sold 508 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $273.34, for a total value of $138,856.72. Following the transaction, the executive vice president now owns 89,447 shares of the company’s stock, valued at $24,449,442.98. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Christopher J. Kuehn sold 2,767 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $268.31, for a total transaction of $742,413.77. Following the sale, the chief financial officer now directly owns 54,788 shares of the company’s stock, valued at $14,700,168.28. The disclosure for this sale can be found here. Insiders have sold a total of 29,874 shares of company stock valued at $8,462,825 in the last 90 days. 0.39% of the stock is currently owned by insiders.

Trane Technologies Stock Down 1.2 %

Shares of NYSE:TT traded down $3.53 during trading on Thursday, reaching $289.56. 646,295 shares of the stock traded hands, compared to its average volume of 997,287. The stock has a market cap of $65.75 billion, a P/E ratio of 33.34, a price-to-earnings-growth ratio of 2.49 and a beta of 1.05. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.78 and a current ratio of 1.13. The stock has a 50-day moving average of $289.02 and a two-hundred day moving average of $250.01. Trane Technologies plc has a 52-week low of $162.04 and a 52-week high of $306.98.

Trane Technologies (NYSE:TT) last posted its earnings results on Thursday, February 1st. The company reported $2.17 EPS for the quarter, topping analysts’ consensus estimates of $2.13 by $0.04. The business had revenue of $4.42 billion during the quarter, compared to analyst estimates of $4.43 billion. Trane Technologies had a return on equity of 32.01% and a net margin of 11.45%. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.82 EPS. As a group, sell-side analysts expect that Trane Technologies plc will post 10.2 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend is Thursday, June 6th. Trane Technologies’s dividend payout ratio is currently 38.23%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Royal Bank of Canada lifted 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. Citigroup increased their price objective on Trane Technologies from $309.00 to $355.00 and gave the stock a “buy” rating in a report on Monday, April 8th. The Goldman Sachs Group upped their target price on shares of Trane Technologies from $253.00 to $287.00 and gave the stock a “neutral” rating in a research report on Monday, February 5th. Barclays lifted their price target on shares of Trane Technologies from $286.00 to $325.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Finally, Stephens upped their price objective on shares of Trane Technologies from $235.00 to $280.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 6th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $251.83.

Trane Technologies Company 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.