Gilliland Jeter Wealth Management LLC Invests $251,000 in Trane Technologies plc (NYSE:TT)

Gilliland Jeter Wealth Management LLC bought a new position in Trane Technologies plc (NYSE:TT) in the 4th quarter, HoldingsChannel reports. The fund bought 1,029 shares of the company’s stock, valued at approximately $251,000.

Several other hedge funds and other institutional investors have also modified their holdings of TT. Avior Wealth Management LLC boosted its position in shares of Trane Technologies by 58.0% in the third quarter. Avior Wealth Management LLC now owns 177 shares of the company’s stock worth $36,000 after buying an additional 65 shares during the period. Caprock Group LLC boosted its position in shares of Trane Technologies by 15.8% in the third quarter. Caprock Group LLC now owns 1,528 shares of the company’s stock worth $310,000 after buying an additional 208 shares during the period. Handelsbanken Fonder AB boosted its position in shares of Trane Technologies by 5.8% in the third quarter. Handelsbanken Fonder AB now owns 37,311 shares of the company’s stock worth $7,571,000 after buying an additional 2,037 shares during the period. Connecticut Wealth Management LLC acquired a new stake in shares of Trane Technologies in the third quarter worth $325,000. Finally, Ballentine Partners LLC boosted its position in shares of Trane Technologies by 3.6% in the third quarter. Ballentine Partners LLC now owns 1,802 shares of the company’s stock worth $366,000 after buying an additional 62 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Buying and Selling

In related news, SVP Keith A. Sultana sold 1,983 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $272.26, for a total transaction of $539,891.58. Following the completion of the transaction, the senior vice president now owns 42,575 shares of the company’s stock, valued at approximately $11,591,469.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Keith A. Sultana sold 1,983 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $272.26, for a total transaction of $539,891.58. Following the transaction, the senior vice president now directly owns 42,575 shares in the company, valued at $11,591,469.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Paul A. Camuti sold 508 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $273.34, for a total value of $138,856.72. Following the transaction, the executive vice president now owns 89,447 shares in the company, valued at $24,449,442.98. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,874 shares of company stock valued at $8,462,825. Insiders own 0.39% of the company’s stock.

Trane Technologies Stock Performance

Shares of NYSE TT traded up $5.16 during trading hours on Friday, hitting $304.53. 961,790 shares of the company’s stock were exchanged, compared to its average volume of 833,800. Trane Technologies plc has a 1-year low of $162.04 and a 1-year high of $306.98. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.13 and a quick ratio of 0.78. The stock has a market capitalization of $69.15 billion, a price-to-earnings ratio of 34.65, a PEG ratio of 2.53 and a beta of 1.05. The company’s 50-day moving average price is $292.22 and its 200-day moving average price is $254.25.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Thursday, February 1st. The company reported $2.17 earnings per share for the quarter, topping the consensus estimate of $2.13 by $0.04. Trane Technologies had a return on equity of 32.01% and a net margin of 11.45%. The business had revenue of $4.42 billion during the quarter, compared to analysts’ expectations of $4.43 billion. During the same quarter in the previous year, the firm earned $1.82 EPS. The firm’s revenue was up 8.6% compared to the same quarter last year. On average, sell-side analysts expect that Trane Technologies plc will post 10.2 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be given a dividend of $0.84 per share. The ex-dividend date is Thursday, June 6th. This represents a $3.36 annualized dividend and a dividend yield of 1.10%. Trane Technologies’s dividend payout ratio is presently 38.23%.

Analysts Set New Price Targets

TT has been the subject of a number of research reports. Citigroup lifted their price objective on Trane Technologies from $309.00 to $355.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Stephens lifted their price objective on Trane Technologies from $235.00 to $280.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 6th. The Goldman Sachs Group lifted their price objective on Trane Technologies from $253.00 to $287.00 and gave the company a “neutral” rating in a research report on Monday, February 5th. Royal Bank of Canada lifted their price objective on Trane Technologies from $231.00 to $246.00 and gave the company a “sector perform” rating in a research report on Friday, February 2nd. Finally, Barclays boosted their price target on Trane Technologies from $286.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Trane Technologies currently has a consensus rating of “Hold” and an average price target of $251.83.

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.