Mosaic Family Wealth Partners LLC Purchases New Stake in Trane Technologies plc (NYSE:TT)

Mosaic Family Wealth Partners LLC acquired a new position in shares of Trane Technologies plc (NYSE:TT) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 900 shares of the company’s stock, valued at approximately $220,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Norges Bank bought a new position in Trane Technologies during the fourth quarter valued at about $526,026,000. Moneta Group Investment Advisors LLC increased its position in Trane Technologies by 109,668.5% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 1,963,758 shares of the company’s stock worth $330,088,000 after purchasing an additional 1,961,969 shares during the last quarter. First Trust Advisors LP increased its position in Trane Technologies by 2,606.5% in the 1st quarter. First Trust Advisors LP now owns 1,081,171 shares of the company’s stock worth $165,095,000 after purchasing an additional 1,041,224 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of Trane Technologies by 24,670.7% during the 4th quarter. International Assets Investment Management LLC now owns 1,034,423 shares of the company’s stock valued at $252,296,000 after acquiring an additional 1,030,247 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Trane Technologies by 5.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 17,085,662 shares of the company’s stock valued at $3,466,852,000 after buying an additional 880,583 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on TT. Barclays raised their price objective on Trane Technologies from $286.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Wells Fargo & Company raised their target price on Trane Technologies from $200.00 to $246.00 and gave the stock an “underweight” rating in a research report on Tuesday, December 19th. Citigroup raised their target price on Trane Technologies from $309.00 to $355.00 and gave the stock a “buy” rating in a research report on Monday. The Goldman Sachs Group raised their target price on Trane Technologies from $253.00 to $287.00 and gave the stock a “neutral” rating in a research report on Monday, February 5th. Finally, Stephens raised their target price on Trane Technologies from $235.00 to $280.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 6th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $246.54.

Trane Technologies Trading Down 0.4 %

Shares of Trane Technologies stock traded down $1.33 during trading on Friday, reaching $295.91. 359,577 shares of the company were exchanged, compared to its average volume of 998,313. The company has a quick ratio of 0.78, a current ratio of 1.13 and a debt-to-equity ratio of 0.57. Trane Technologies plc has a twelve month low of $162.04 and a twelve month high of $306.98. The business has a 50-day moving average price of $287.27 and a 200-day moving average price of $247.07. The firm has a market capitalization of $67.19 billion, a price-to-earnings ratio of 33.82, a P/E/G ratio of 2.52 and a beta of 1.05.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Thursday, February 1st. The company reported $2.17 earnings per share (EPS) 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 company had revenue of $4.42 billion during the quarter, compared to the consensus estimate of $4.43 billion. During the same period in the prior year, the company earned $1.82 earnings per share. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. Sell-side analysts anticipate that Trane Technologies plc will post 10.2 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently declared 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 yield of 1.14%. Trane Technologies’s dividend payout ratio (DPR) is presently 38.23%.

Insider Activity at Trane Technologies

In related news, SVP Keith A. Sultana sold 1,637 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $267.74, for a total transaction of $438,290.38. Following the completion of the transaction, the senior vice president now directly owns 42,374 shares of the company’s stock, valued at $11,345,214.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Keith A. Sultana sold 1,637 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $267.74, for a total value of $438,290.38. Following the completion of the sale, the senior vice president now directly owns 42,374 shares of the company’s stock, valued at $11,345,214.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Christopher J. Kuehn sold 2,767 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 54,788 shares of the company’s stock, valued at $14,700,168.28. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,874 shares of company stock valued at $8,462,825. Insiders own 0.39% of the company’s stock.

About Trane Technologies

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.