Trane Technologies plc (NYSE:TT) Shares Acquired by Merit Financial Group LLC

Posted by Defense World Staff on Mar 25th, 2023

Merit Financial Group LLC boosted its stake in Trane Technologies plc (NYSE:TT – Get Rating) by 90.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,148 shares of the company’s stock after purchasing an additional 1,495 shares during the period. Merit Financial Group LLC’s holdings in Trane Technologies were worth $529,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of TT. Corient Capital Partners LLC boosted its stake in shares of Trane Technologies by 7.2% in the second quarter. Corient Capital Partners LLC now owns 3,525 shares of the company’s stock valued at $458,000 after purchasing an additional 236 shares during the period. WCG Wealth Advisors LLC purchased a new position in Trane Technologies in the 2nd quarter valued at about $507,000. Welch & Forbes LLC increased its position in shares of Trane Technologies by 15.9% during the third quarter. Welch & Forbes LLC now owns 2,277 shares of the company’s stock worth $329,000 after acquiring an additional 312 shares during the last quarter. Greenleaf Trust increased its position in shares of Trane Technologies by 19.0% during the third quarter. Greenleaf Trust now owns 5,631 shares of the company’s stock worth $815,000 after acquiring an additional 901 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its stake in shares of Trane Technologies by 60.4% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 13,692 shares of the company’s stock worth $1,983,000 after acquiring an additional 5,156 shares in the last quarter. Institutional investors and hedge funds own 81.47% of the company’s stock.

Insider Activity at Trane Technologies

In other Trane Technologies news, SVP Keith A. Sultana sold 279 shares of the firm’s stock in a transaction dated Friday, February 10th. The shares were sold at an average price of $182.02, for a total transaction of $50,783.58. Following the transaction, the senior vice president now owns 34,864 shares of the company’s stock, valued at approximately $6,345,945.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP Raymond D. Pittard sold 23,003 shares of the company’s stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $170.42, for a total value of $3,920,171.26. Following the completion of the sale, the executive vice president now owns 87,718 shares in the company, valued at $14,948,901.56. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Keith A. Sultana sold 279 shares of Trane Technologies stock in a transaction dated Friday, February 10th. The stock was sold at an average price of $182.02, for a total value of $50,783.58. Following the transaction, the senior vice president now directly owns 34,864 shares in the company, valued at $6,345,945.28. The disclosure for this sale can be found here. Insiders have sold a total of 38,970 shares of company stock worth $6,927,921 over the last ninety days. 0.74% of the stock is currently owned by corporate insiders.

Trane Technologies Trading Down 0.5 %

Shares of NYSE:TT opened at $182.07 on Friday. Trane Technologies plc has a fifty-two week low of $120.64 and a fifty-two week high of $196.22. The company has a quick ratio of 0.77, a current ratio of 1.12 and a debt-to-equity ratio of 0.62. The company has a market cap of $41.71 billion, a PE ratio of 24.31, a P/E/G ratio of 2.24 and a beta of 1.00. The company’s 50-day moving average price is $182.16 and its 200 day moving average price is $170.57.

Trane Technologies (NYSE:TT – Get Rating) last released its quarterly earnings results on Thursday, February 2nd. The company reported $1.82 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.18. Trane Technologies had a return on equity of 29.14% and a net margin of 10.98%. The company had revenue of $4.07 billion for the quarter, compared to analysts’ expectations of $3.94 billion. During the same quarter in the previous year, the company posted $1.36 earnings per share. The business’s revenue for the quarter was up 14.1% compared to the same quarter last year. Sell-side analysts anticipate that Trane Technologies plc will post 8.34 earnings per share for the current year.

Trane Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Friday, March 3rd will be paid a $0.75 dividend. This is a boost from Trane Technologies’s previous quarterly dividend of $0.67. The ex-dividend date is Thursday, March 2nd. This represents a $3.00 annualized dividend and a dividend yield of 1.65%. Trane Technologies’s dividend payout ratio is presently 40.05%.

Analysts Set New Price Targets

A number of brokerages have issued reports on TT. Stephens upped their target price on Trane Technologies from $170.00 to $185.00 and gave the company an “equal weight” rating in a research report on Monday, February 6th. Barclays increased their price objective on shares of Trane Technologies from $190.00 to $193.00 and gave the company an “overweight” rating in a research note on Thursday, January 5th. Argus boosted their target price on shares of Trane Technologies from $185.00 to $200.00 in a research report on Wednesday, February 8th. BMO Capital Markets cut shares of Trane Technologies from an “outperform” rating to a “market perform” rating and set a $180.00 price target on the stock. in a research report on Wednesday, December 21st. Finally, Royal Bank of Canada boosted their price objective on Trane Technologies from $164.00 to $177.00 and gave the company a “sector perform” rating in a report on Friday, February 3rd. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Trane Technologies currently has an average rating of “Hold” and a consensus target price of $183.78.

Trane Technologies Profile

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Trane Technologies Plc engages in providing solutions to buildings, homes, and transportation. It operates through the following business segments: Americas, EMEA, and Asia Pacific. The Americas segment encompasses commercial heating and cooling systems, building controls, and energy services and solutions, residential heating and cooling, and transport refrigeration systems, and solutions in North America and Latin America regions.