Moran Wealth Management LLC Sells 7,822 Shares of Trane Technologies plc $TT

Key Points

• Moran Wealth Management reduced its stake in Trane Technologies by 6.2%, selling 7,822 shares and now holds 119,149 shares worth about $46.37 million (≈1.4% of Moran’s portfolio and ~0.05% of the company).
• Corporate insiders sold heavily last quarter—57,997 shares totaling $25.11 million, including CEO David S. Regnery's sale of 36,045 shares—leaving insiders with roughly 0.14% ownership.
• Analysts have a consensus Moderate Buy with an average price target of $491.47 versus the recent share price near $476; the company also beat last-quarter EPS estimates ($2.86 vs. $2.81) and announced a $1.05 quarterly dividend (0.9% yield).

Moran Wealth Management LLC lowered its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 6.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 119,149 shares of the company's stock after selling 7,822 shares during the quarter. Trane Technologies accounts for about 1.4% of Moran Wealth Management LLC's investment portfolio, making the stock its 6th biggest holding. Moran Wealth Management LLC owned about 0.05% of Trane Technologies worth $46,373,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TT. Aptus Capital Advisors LLC increased its position in shares of Trane Technologies by 169.8% during the third quarter. Aptus Capital Advisors LLC now owns 14,738 shares of the company's stock worth $6,219,000 after acquiring an additional 9,276 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Trane Technologies in the 3rd quarter worth $6,571,000. Nordea Investment Management AB increased its holdings in Trane Technologies by 2.4% during the 3rd quarter. Nordea Investment Management AB now owns 2,513,508 shares of the company's stock worth $1,051,049,000 after purchasing an additional 57,774 shares in the last quarter. Boston Common Asset Management LLC acquired a new stake in shares of Trane Technologies in the 3rd quarter valued at about $9,546,000. Finally, Compass Wealth Management LLC raised its stake in shares of Trane Technologies by 3,785.4% in the 3rd quarter. Compass Wealth Management LLC now owns 27,198 shares of the company's stock valued at $11,476,000 after purchasing an additional 26,498 shares during the period. 82.97% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on TT shares. Royal Bank Of Canada boosted their price objective on shares of Trane Technologies from $469.00 to $470.00 and gave the stock a "sector perform" rating in a research report on Friday, January 30th. Morgan Stanley lowered their price target on shares of Trane Technologies from $550.00 to $535.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 13th. Melius Research upgraded shares of Trane Technologies from a "hold" rating to a "buy" rating and set a $490.00 price objective for the company in a research note on Wednesday, January 7th. BNP Paribas Exane started coverage on Trane Technologies in a research report on Tuesday. They set an "outperform" rating and a $550.00 price target for the company. Finally, Barclays raised their price target on Trane Technologies from $505.00 to $507.00 and gave the company an "overweight" rating in a research note on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Trane Technologies presently has a consensus rating of "Moderate Buy" and an average price target of $491.47.

Insider Activity at Trane Technologies

In other news, insider Donald E. Simmons sold 3,762 shares of the business's stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $422.70, for a total transaction of $1,590,197.40. Following the completion of the sale, the insider owned 3,819 shares in the company, valued at $1,614,291.30. The trade was a 49.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO David S. Regnery sold 36,045 shares of the company's stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $422.69, for a total value of $15,235,861.05. Following the completion of the transaction, the chief executive officer directly owned 96,948 shares in the company, valued at $40,978,950.12. The trade was a 27.10% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 57,997 shares of company stock worth $25,107,014 in the last quarter. Corporate insiders own 0.14% of the company's stock.

Trane Technologies Price Performance

NYSE:TT opened at $476.07 on Friday. Trane Technologies plc has a 12-month low of $318.08 and a 12-month high of $480.51. The firm has a market capitalization of $105.37 billion, a price-to-earnings ratio of 36.68, a P/E/G ratio of 2.43 and a beta of 1.21. The stock's 50 day moving average price is $443.97 and its two-hundred day moving average price is $421.58. The company has a quick ratio of 0.92, a current ratio of 1.25 and a debt-to-equity ratio of 0.46.

Trane Technologies (NYSE:TT - Get Free Report) last posted its earnings results on Thursday, January 29th. The company reported $2.86 earnings per share for the quarter, topping analysts' consensus estimates of $2.81 by $0.05. Trane Technologies had a return on equity of 36.34% and a net margin of 13.69%.The business had revenue of $5.14 billion for the quarter, compared to analyst estimates of $5.09 billion. During the same period in the previous year, the firm earned $2.61 EPS. The firm's revenue was up 5.6% compared to the same quarter last year. On average, analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 5th will be issued a dividend of $1.05 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $4.20 annualized dividend and a dividend yield of 0.9%. Trane Technologies's payout ratio is presently 32.36%.

Trane Technologies Profile

Trane Technologies NYSE: TT is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.

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