Harbour Wealth Management Group Inc. Invests $1.31 Million in Trane Technologies plc $TT

Harbour Wealth Management Group Inc. acquired a new stake in Trane Technologies plc (NYSE:TT) during the fourth quarter, Holdings Channel.com reports. The fund acquired 3,364 shares of the company’s stock, valued at approximately $1,309,000. Trane Technologies comprises about 1.0% of Harbour Wealth Management Group Inc.’s holdings, making the stock its 23rd biggest holding.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TT. Corient Private Wealth LLC boosted its holdings in shares of Trane Technologies by 11.4% in the 4th quarter. Corient Private Wealth LLC now owns 383,850 shares of the company’s stock valued at $149,394,000 after purchasing an additional 39,287 shares in the last quarter. CrossGen Wealth LLC bought a new stake in Trane Technologies in the fourth quarter valued at approximately $518,000. Mercer Global Advisors Inc. ADV increased its position in Trane Technologies by 16.2% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 67,634 shares of the company’s stock valued at $25,329,000 after purchasing an additional 9,423 shares during the period. Virtue Capital Management LLC raised its holdings in Trane Technologies by 162.8% during the 4th quarter. Virtue Capital Management LLC now owns 1,130 shares of the company’s stock worth $450,000 after purchasing an additional 700 shares during the last quarter. Finally, Achmea Investment Management B.V. lifted its position in shares of Trane Technologies by 0.5% in the 4th quarter. Achmea Investment Management B.V. now owns 203,192 shares of the company’s stock worth $79,082,000 after purchasing an additional 925 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on TT shares. Sanford C. Bernstein initiated coverage on shares of Trane Technologies in a research note on Tuesday, June 9th. They issued an “outperform” rating and a $550.00 price objective on the stock. JPMorgan Chase & Co. lifted their target price on shares of Trane Technologies from $460.00 to $476.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. Royal Bank Of Canada boosted their target price on shares of Trane Technologies from $440.00 to $501.00 and gave the company a “sector perform” rating in a report on Friday, May 1st. KeyCorp increased their price target on Trane Technologies from $525.00 to $555.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Trane Technologies in a research report on Monday, April 20th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $509.12.

Insider Activity

In related news, insider Donald E. Simmons sold 4,593 shares of the business’s stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $500.00, for a total value of $2,296,500.00. Following the completion of the sale, the insider directly owned 3,819 shares of the company’s stock, valued at $1,909,500. The trade was a 54.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Christopher J. Kuehn sold 8,619 shares of the business’s stock in a transaction dated Wednesday, April 8th. The shares were sold at an average price of $450.00, for a total value of $3,878,550.00. Following the completion of the sale, the chief financial officer directly owned 60,576 shares of the company’s stock, valued at $27,259,200. The trade was a 12.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is currently owned by corporate insiders.

Trane Technologies Stock Performance

Shares of TT stock opened at $483.88 on Friday. The firm has a 50 day moving average of $467.20 and a 200-day moving average of $434.88. The company has a market cap of $106.96 billion, a price-to-earnings ratio of 37.42, a price-to-earnings-growth ratio of 2.18 and a beta of 1.20. The company has a quick ratio of 0.77, a current ratio of 1.10 and a debt-to-equity ratio of 0.46. Trane Technologies plc has a 52 week low of $348.06 and a 52 week high of $503.47.

Trane Technologies (NYSE:TT) last released its earnings results on Friday, May 1st. The company reported $2.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.10. The company had revenue of $4.97 billion for the quarter, compared to the consensus estimate of $4.81 billion. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. Trane Technologies’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.45 EPS. On average, equities analysts forecast that Trane Technologies plc will post 14.88 earnings per share for the current year.

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, September 4th will be paid a $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, September 4th. Trane Technologies’s payout ratio is 32.48%.

Trane Technologies Profile

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.