Berry Wealth Group LP Takes $647,000 Position in Trane Technologies plc (NYSE:TT)

Berry Wealth Group LP acquired a new position in Trane Technologies plc (NYSE:TT - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,651 shares of the company's stock, valued at approximately $647,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in TT. Savant Capital LLC lifted its holdings in shares of Trane Technologies by 70.5% during the fourth quarter. Savant Capital LLC now owns 5,383 shares of the company's stock valued at $1,313,000 after purchasing an additional 2,226 shares during the last quarter. Mission Wealth Management LP increased its position in Trane Technologies by 9.7% during the 4th quarter. Mission Wealth Management LP now owns 1,857 shares of the company's stock valued at $453,000 after buying an additional 164 shares in the last quarter. Penobscot Investment Management Company Inc. raised its stake in Trane Technologies by 7.5% during the fourth quarter. Penobscot Investment Management Company Inc. now owns 3,868 shares of the company's stock valued at $943,000 after buying an additional 270 shares during the last quarter. Kestra Private Wealth Services LLC boosted its holdings in Trane Technologies by 26.4% in the fourth quarter. Kestra Private Wealth Services LLC now owns 6,459 shares of the company's stock worth $1,575,000 after acquiring an additional 1,350 shares in the last quarter. Finally, Van ECK Associates Corp increased its holdings in shares of Trane Technologies by 8.7% during the fourth quarter. Van ECK Associates Corp now owns 40,743 shares of the company's stock valued at $9,937,000 after acquiring an additional 3,265 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

Insiders Place Their Bets

In other Trane Technologies news, CFO Christopher J. Kuehn sold 2,767 shares of Trane Technologies stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $268.31, for a total value of $742,413.77. Following the sale, the chief financial officer now owns 54,788 shares of the company's stock, valued at approximately $14,700,168.28. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CFO Christopher J. Kuehn sold 2,767 shares of the business's stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $268.31, for a total value of $742,413.77. Following the sale, the chief financial officer now owns 54,788 shares in the company, valued at $14,700,168.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Keith A. Sultana sold 1,637 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $267.74, for a total transaction of $438,290.38. Following the transaction, the senior vice president now owns 42,374 shares of the company's stock, valued at approximately $11,345,214.76. The disclosure for this sale can be found here. Insiders have sold a total of 29,874 shares of company stock worth $8,462,825 in the last 90 days. 0.39% of the stock is currently owned by corporate insiders.

Trane Technologies Price Performance

Shares of TT traded down $2.26 during mid-day trading on Wednesday, reaching $315.08. The stock had a trading volume of 1,378,698 shares, compared to its average volume of 1,031,339. The business has a fifty day moving average of $293.61 and a 200 day moving average of $256.33. 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 firm has a market cap of $71.39 billion, a price-to-earnings ratio of 36.07, a PEG ratio of 2.54 and a beta of 1.05. Trane Technologies plc has a 12 month low of $162.04 and a 12 month high of $327.09.

Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $1.94 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.64 by $0.30. Trane Technologies had a return on equity of 32.01% and a net margin of 11.45%. The business had revenue of $4.22 billion during the quarter, compared to analyst estimates of $3.99 billion. During the same quarter in the prior year, the business posted $1.41 EPS. Trane Technologies's revenue for the quarter was up 15.0% compared to the same quarter last year. Equities analysts predict that Trane Technologies plc will post 10.2 EPS for the current year.

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be issued a $0.84 dividend. The ex-dividend date is Thursday, June 6th. This represents a $3.36 dividend on an annualized basis and a yield of 1.07%. Trane Technologies's dividend payout ratio is currently 38.23%.

Analysts Set New Price Targets

A number of research firms have weighed in on TT. Stephens raised their price objective on shares of Trane Technologies from $310.00 to $320.00 and gave the company an "equal weight" rating in a research note on Wednesday. Barclays upped their price objective on Trane Technologies from $286.00 to $325.00 and gave the company an "overweight" rating in a research report on Tuesday, April 2nd. TD Cowen lifted their target price on Trane Technologies from $325.00 to $360.00 and gave the stock a "buy" rating in a report on Wednesday. Citigroup increased their price objective on Trane Technologies from $355.00 to $366.00 and gave the company a "buy" rating in a research report on Wednesday. Finally, Mizuho boosted their target price on Trane Technologies from $280.00 to $325.00 and gave the stock a "neutral" rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $288.38.

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.