Wealth Enhancement Advisory Services LLC Lowers Stock Position in Trane Technologies plc (NYSE:TT)

Wealth Enhancement Advisory Services LLC lowered its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 34.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 53,541 shares of the company's stock after selling 27,784 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Trane Technologies were worth $18,039,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in TT. WFA Asset Management Corp increased its holdings in shares of Trane Technologies by 208.3% during the first quarter. WFA Asset Management Corp now owns 74 shares of the company's stock valued at $25,000 after acquiring an additional 50 shares in the last quarter. Minot DeBlois Advisors LLC bought a new position in shares of Trane Technologies during the fourth quarter valued at $26,000. Vermillion & White Wealth Management Group LLC bought a new position in shares of Trane Technologies during the fourth quarter valued at $28,000. Flagship Wealth Advisors LLC bought a new position in shares of Trane Technologies during the fourth quarter valued at $37,000. Finally, NBC Securities Inc. bought a new position in shares of Trane Technologies during the first quarter valued at $39,000. Hedge funds and other institutional investors own 82.97% of the company's stock.

Trane Technologies Stock Performance

Shares of Trane Technologies stock opened at $419.25 on Friday. The stock's fifty day moving average is $401.13 and its two-hundred day moving average is $376.94. The company has a market capitalization of $93.50 billion, a PE ratio of 34.88, a price-to-earnings-growth ratio of 2.76 and a beta of 1.16. The company has a quick ratio of 0.74, a current ratio of 1.09 and a debt-to-equity ratio of 0.52. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $436.61.

Trane Technologies (NYSE:TT - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share for the quarter, topping the consensus estimate of $2.20 by $0.25. Trane Technologies had a return on equity of 36.10% and a net margin of 13.47%. The business had revenue of $4.69 billion during the quarter, compared to analysts' expectations of $4.46 billion. During the same period in the prior year, the business earned $1.94 EPS. The business's revenue for the quarter was up 11.2% compared to the same quarter last year. As a group, analysts expect 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 $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend is Friday, September 5th. Trane Technologies's dividend payout ratio is 31.28%.

Wall Street Analysts Forecast Growth

TT has been the subject of several research analyst reports. HSBC upgraded Trane Technologies from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $405.00 to $415.00 in a report on Friday, April 25th. JPMorgan Chase & Co. lifted their price objective on Trane Technologies from $334.00 to $400.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Hsbc Global Res upgraded Trane Technologies from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. Wells Fargo & Company lifted their price objective on Trane Technologies from $330.00 to $370.00 and gave the stock an "underweight" rating in a report on Thursday, May 1st. Finally, Citigroup lifted their price objective on Trane Technologies from $415.00 to $445.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, seven have issued 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, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $427.47.

Insiders Place Their Bets

In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of the stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $380.00, for a total value of $1,356,980.00. Following the completion of the sale, the insider now directly owns 3,593 shares in the company, 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 can be accessed through the SEC website. Company insiders own 0.38% of the company's stock.

Trane Technologies 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.

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