Parr Mcknight Wealth Management Group LLC Makes New Investment in Trane Technologies plc (NYSE:TT)

Parr Mcknight Wealth Management Group LLC acquired a new position in Trane Technologies plc (NYSE:TT - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 850 shares of the company's stock, valued at approximately $314,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Secured Retirement Advisors LLC raised its position in Trane Technologies by 0.6% in the 4th quarter. Secured Retirement Advisors LLC now owns 4,628 shares of the company's stock worth $1,709,000 after purchasing an additional 28 shares during the period. Catalina Capital Group LLC increased its position in shares of Trane Technologies by 3.2% during the fourth quarter. Catalina Capital Group LLC now owns 924 shares of the company's stock worth $341,000 after acquiring an additional 29 shares during the period. Stratos Wealth Partners LTD. increased its position in shares of Trane Technologies by 0.5% during the fourth quarter. Stratos Wealth Partners LTD. now owns 5,538 shares of the company's stock worth $2,046,000 after acquiring an additional 29 shares during the period. Kanawha Capital Management LLC increased its position in shares of Trane Technologies by 0.6% during the fourth quarter. Kanawha Capital Management LLC now owns 4,712 shares of the company's stock worth $1,740,000 after acquiring an additional 29 shares during the period. Finally, Kestra Private Wealth Services LLC increased its position in shares of Trane Technologies by 0.3% during the fourth quarter. Kestra Private Wealth Services LLC now owns 9,173 shares of the company's stock worth $3,388,000 after acquiring an additional 30 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on TT. Robert W. Baird raised their target price on shares of Trane Technologies from $360.00 to $396.00 and gave the stock a "neutral" rating in a research report on Thursday, May 1st. UBS Group raised their target price on shares of Trane Technologies from $470.00 to $500.00 and gave the stock a "buy" rating in a research report on Thursday, May 22nd. Hsbc Global Res raised shares of Trane Technologies from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. JPMorgan Chase & Co. raised their target price on shares of Trane Technologies from $334.00 to $400.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Finally, Wells Fargo & Company raised their target price on shares of Trane Technologies from $330.00 to $370.00 and gave the stock an "underweight" rating in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $427.47.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of the firm's stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $380.00, for a total value of $1,356,980.00. Following the completion of the transaction, the insider now owns 3,593 shares of the company's stock, valued at approximately $1,365,340. This trade represents a 49.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.38% of the stock is owned by insiders.

Trane Technologies Stock Down 0.1%

TT traded down $0.59 during trading on Thursday, hitting $432.35. The stock had a trading volume of 304,447 shares, compared to its average volume of 1,350,404. The company has a market capitalization of $96.42 billion, a PE ratio of 38.49, a PEG ratio of 2.50 and a beta of 1.14. Trane Technologies plc has a twelve month low of $298.15 and a twelve month high of $447.61. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21. The stock has a 50 day simple moving average of $371.20 and a two-hundred day simple moving average of $375.78.

Trane Technologies (NYSE:TT - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share for the quarter, beating the consensus estimate of $2.20 by $0.25. The company had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.46 billion. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. Trane Technologies's revenue was up 11.2% compared to the same quarter last year. During the same period last year, the firm earned $1.94 earnings per share. On average, research analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be paid a $0.94 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.76 annualized dividend and a yield of 0.87%. Trane Technologies's dividend payout ratio (DPR) is 31.28%.

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.