Oarsman Capital Inc. Invests $270,000 in Trane Technologies plc $TT

Oarsman Capital Inc. bought a new position in Trane Technologies plc (NYSE:TT) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 617 shares of the company’s stock, valued at approximately $270,000.

Several other institutional investors have also made changes to their positions in the stock. NorthRock Partners LLC boosted its holdings in shares of Trane Technologies by 1.2% during the second quarter. NorthRock Partners LLC now owns 2,052 shares of the company’s stock worth $898,000 after purchasing an additional 24 shares during the period. Csenge Advisory Group lifted its stake in shares of Trane Technologies by 0.6% in the first quarter. Csenge Advisory Group now owns 3,944 shares of the company’s stock worth $1,314,000 after buying an additional 25 shares during the last quarter. Confluence Wealth Services Inc. increased its position in Trane Technologies by 0.7% during the second quarter. Confluence Wealth Services Inc. now owns 3,609 shares of the company’s stock worth $1,579,000 after acquiring an additional 25 shares during the period. CBIZ Investment Advisory Services LLC increased its position in Trane Technologies by 23.4% during the first quarter. CBIZ Investment Advisory Services LLC now owns 137 shares of the company’s stock worth $46,000 after acquiring an additional 26 shares during the period. Finally, Fiera Capital Corp increased its position in Trane Technologies by 1.4% during the first quarter. Fiera Capital Corp now owns 1,930 shares of the company’s stock worth $650,000 after acquiring an additional 27 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Trane Technologies news, CEO David S. Regnery sold 22,497 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $410.00, for a total transaction of $9,223,770.00. Following the sale, the chief executive officer owned 123,713 shares of the company’s stock, valued at $50,722,330. This represents a 15.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.14% of the stock is currently owned by corporate insiders.

Trane Technologies Stock Up 0.1%

TT opened at $426.66 on Thursday. The firm’s 50-day simple moving average is $416.34 and its 200-day simple moving average is $417.50. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.10. Trane Technologies plc has a twelve month low of $298.15 and a twelve month high of $476.18. The firm has a market cap of $94.94 billion, a price-to-earnings ratio of 33.84, a PEG ratio of 2.65 and a beta of 1.12.

Trane Technologies (NYSE:TT) last posted its earnings results on Wednesday, July 30th. The company reported $3.88 earnings per share for the quarter, topping the consensus estimate of $3.79 by $0.09. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. The business had revenue of $5.75 billion for the quarter, compared to analyst estimates of $5.77 billion. During the same quarter in the prior year, the firm earned $3.30 EPS. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. Equities research analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Friday, December 5th will be issued a dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $3.76 dividend on an annualized basis and a yield of 0.9%. Trane Technologies’s dividend payout ratio is currently 29.82%.

Analysts Set New Price Targets

TT has been the topic of a number of research reports. Citigroup dropped their target price on shares of Trane Technologies from $499.00 to $494.00 and set a “buy” rating on the stock in a research report on Wednesday, September 17th. Hsbc Global Res cut shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 31st. Royal Bank Of Canada raised their price objective on shares of Trane Technologies from $463.00 to $467.00 and gave the stock a “sector perform” rating in a report on Thursday, July 31st. Wells Fargo & Company lifted their target price on shares of Trane Technologies from $410.00 to $415.00 and gave the company an “underweight” rating in a research report on Monday, October 6th. Finally, Morgan Stanley lifted their target price on shares of Trane Technologies from $445.00 to $520.00 and gave the company an “overweight” rating in a research report on Thursday, July 31st. Six equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $464.29.

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.