Moran Wealth Management LLC Has $61.73 Million Stake in Trane Technologies plc (NYSE:TT)

Moran Wealth Management LLC lessened its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 2.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 183,214 shares of the company's stock after selling 3,879 shares during the period. Trane Technologies accounts for about 2.1% of Moran Wealth Management LLC's portfolio, making the stock its biggest position. Moran Wealth Management LLC owned about 0.08% of Trane Technologies worth $61,729,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its stake in Trane Technologies by 60.0% in the fourth quarter. Brighton Jones LLC now owns 6,194 shares of the company's stock valued at $2,288,000 after acquiring an additional 2,323 shares during the last quarter. Private Advisor Group LLC boosted its holdings in shares of Trane Technologies by 20.9% in the 4th quarter. Private Advisor Group LLC now owns 10,342 shares of the company's stock valued at $3,820,000 after purchasing an additional 1,789 shares in the last quarter. Sigma Planning Corp increased its stake in shares of Trane Technologies by 5.4% in the 4th quarter. Sigma Planning Corp now owns 5,155 shares of the company's stock valued at $1,904,000 after purchasing an additional 265 shares during the last quarter. Olympiad Research LP acquired a new position in shares of Trane Technologies during the 4th quarter worth $221,000. Finally, First Horizon Advisors Inc. lifted its position in shares of Trane Technologies by 2.5% during the 4th quarter. First Horizon Advisors Inc. now owns 4,064 shares of the company's stock worth $1,501,000 after buying an additional 101 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Trane Technologies

In other news, insider Donald E. Simmons sold 3,571 shares of the company's stock in a transaction dated 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 sale, the insider now directly owns 3,593 shares of the company's stock, valued at $1,365,340. This represents a 49.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.38% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Stephens raised Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 target price for the company in a report on Thursday, May 1st. Royal Bank Of Canada increased their price target on Trane Technologies from $363.00 to $408.00 and gave the stock a "sector perform" rating in a report on Thursday, May 1st. JPMorgan Chase & Co. increased their price objective 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. UBS Group lifted their price target on shares of Trane Technologies from $470.00 to $500.00 and gave the company a "buy" rating in a research report on Thursday, May 22nd. Finally, Wells Fargo & Company increased their price objective on Trane Technologies from $330.00 to $370.00 and gave the stock an "underweight" rating in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $427.47.

Trane Technologies Price Performance

TT stock traded up $2.21 during mid-day trading on Tuesday, reaching $429.13. 760,190 shares of the company traded hands, compared to its average volume of 1,531,722. Trane Technologies plc has a 52-week low of $298.15 and a 52-week high of $436.61. The company has a market capitalization of $95.70 billion, a P/E ratio of 35.70, a P/E/G ratio of 2.76 and a beta of 1.16. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.09 and a quick ratio of 0.74. The company has a fifty day moving average price of $402.73 and a 200-day moving average price of $376.78.

Trane Technologies (NYSE:TT - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $2.45 EPS for the quarter, beating the consensus estimate of $2.20 by $0.25. Trane Technologies had a net margin of 13.47% and a return on equity of 36.10%. The firm had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.46 billion. During the same period last year, the firm earned $1.94 EPS. The business's quarterly revenue was up 11.2% compared to the same quarter last year. As a group, analysts anticipate 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 Tuesday, September 30th. Shareholders of record on Friday, September 5th will be issued a dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.88%. 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.