Thrive Wealth Management LLC Has $263,000 Stake in Trane Technologies plc (NYSE:TT)

Thrive Wealth Management LLC reduced its position in shares of Trane Technologies plc (NYSE:TT) by 4.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 875 shares of the company’s stock after selling 37 shares during the quarter. Thrive Wealth Management LLC’s holdings in Trane Technologies were worth $263,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. GoalVest Advisory LLC grew its position in Trane Technologies by 157.1% during the first quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock valued at $27,000 after buying an additional 55 shares during the period. BKM Wealth Management LLC purchased a new stake in shares of Trane Technologies during the 4th quarter valued at approximately $25,000. Sachetta LLC bought a new position in Trane Technologies in the 4th quarter worth approximately $27,000. Motco purchased a new position in Trane Technologies in the 4th quarter valued at approximately $27,000. Finally, Rise Advisors LLC raised its holdings in Trane Technologies by 235.3% during the 1st quarter. Rise Advisors LLC now owns 171 shares of the company’s stock valued at $51,000 after acquiring an additional 120 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analysts Set New Price Targets

TT has been the subject of several research reports. Robert W. Baird upped their target price on Trane Technologies from $315.00 to $344.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Wells Fargo & Company lifted their target price on shares of Trane Technologies from $281.00 to $295.00 and gave the stock an “underweight” rating in a research report on Thursday, May 2nd. Stephens upped their price target on shares of Trane Technologies from $310.00 to $320.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 1st. Barclays lifted their price objective on Trane Technologies from $354.00 to $380.00 and gave the stock an “overweight” rating in a report on Tuesday, June 4th. Finally, Mizuho increased their target price on Trane Technologies from $280.00 to $325.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $309.79.

Trane Technologies Price Performance

NYSE TT traded up $3.89 during trading hours on Thursday, reaching $333.65. The company’s stock had a trading volume of 1,017,401 shares, compared to its average volume of 1,050,308. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.13 and a quick ratio of 0.74. Trane Technologies plc has a 1-year low of $184.02 and a 1-year high of $345.46. The company’s 50-day moving average is $323.56 and its two-hundred day moving average is $288.77. The firm has a market capitalization of $75.52 billion, a price-to-earnings ratio of 35.28, a P/E/G ratio of 2.67 and a beta of 1.01.

Trane Technologies (NYSE:TT) last released its earnings results on Tuesday, April 30th. The company reported $1.94 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.30. Trane Technologies had a net margin of 11.81% and a return on equity of 32.78%. The business had revenue of $4.22 billion during the quarter, compared to analysts’ expectations of $3.99 billion. During the same quarter in the previous year, the company earned $1.41 earnings per share. The company’s quarterly revenue was up 15.0% on a year-over-year basis. On average, equities analysts predict that Trane Technologies plc will post 10.46 EPS for the current year.

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date is Friday, September 6th. Trane Technologies’s dividend payout ratio is presently 35.90%.

Insider Activity

In other news, SVP Evan M. Turtz sold 8,988 shares of Trane Technologies stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $321.30, for a total value of $2,887,844.40. Following the completion of the sale, the senior vice president now directly owns 20,758 shares of the company’s stock, valued at $6,669,545.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, SVP Evan M. Turtz sold 8,988 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $321.30, for a total transaction of $2,887,844.40. Following the sale, the senior vice president now directly owns 20,758 shares of the company’s stock, valued at approximately $6,669,545.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Christopher J. Kuehn sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $318.67, for a total transaction of $1,274,680.00. Following the completion of the transaction, the chief financial officer now directly owns 61,293 shares of the company’s stock, valued at approximately $19,532,240.31. The disclosure for this sale can be found here. Insiders own 0.38% of the company’s stock.

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.