Kiley Juergens Wealth Management LLC purchased a new position in Trane Technologies plc (NYSE:TT – Free Report) in the first quarter, Holdings Channel reports. The institutional investor purchased 1,498 shares of the company’s stock, valued at approximately $624,000.
A number of other institutional investors have also added to or reduced their stakes in TT. Westfuller Advisors LLC increased its position in shares of Trane Technologies by 5.9% during the first quarter. Westfuller Advisors LLC now owns 447 shares of the company’s stock valued at $186,000 after buying an additional 25 shares during the period. Kathmere Capital Management LLC increased its holdings in Trane Technologies by 149.4% during the 1st quarter. Kathmere Capital Management LLC now owns 2,586 shares of the company’s stock worth $1,078,000 after acquiring an additional 1,549 shares during the period. Appleton Partners Inc. MA lifted its stake in Trane Technologies by 3.5% in the 1st quarter. Appleton Partners Inc. MA now owns 1,818 shares of the company’s stock worth $758,000 after purchasing an additional 62 shares in the last quarter. Abel Hall LLC bought a new position in Trane Technologies in the 1st quarter valued at $390,000. Finally, DGS Capital Management LLC purchased a new position in shares of Trane Technologies during the 1st quarter valued at $209,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.
Analysts Set New Price Targets
Several research analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Trane Technologies in a report on Monday, April 20th. Citigroup boosted their target price on Trane Technologies from $525.00 to $570.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Barclays upped their target price on Trane Technologies from $507.00 to $585.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. BNP Paribas Exane initiated coverage on Trane Technologies in a report on Tuesday, April 14th. They issued an “outperform” rating and a $550.00 price target on the stock. Finally, Evercore began coverage on Trane Technologies in a research report on Monday, April 13th. They set an “outperform” rating and a $535.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $509.12.
Insider Transactions at Trane Technologies
In related news, insider Donald E. Simmons sold 4,593 shares of the business’s stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $500.00, for a total value of $2,296,500.00. Following the completion of the transaction, the insider directly owned 3,819 shares in the company, valued at $1,909,500. The trade was a 54.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 stock in a transaction on 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 sale, the chief financial officer owned 60,576 shares in the company, valued at approximately $27,259,200. This represents a 12.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.43% of the company’s stock.
Trane Technologies Stock Down 3.9%
NYSE:TT traded down $18.77 during mid-day trading on Tuesday, hitting $468.47. 175,176 shares of the company’s stock were exchanged, compared to its average volume of 1,486,437. The company has a market cap of $103.56 billion, a PE ratio of 36.23, a P/E/G ratio of 2.20 and a beta of 1.19. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.10 and a quick ratio of 0.77. Trane Technologies plc has a one year low of $348.06 and a one year high of $505.87. The business has a fifty day moving average price of $470.69 and a 200 day moving average price of $441.25.
Trane Technologies (NYSE:TT – Get Free Report) last released its earnings results on Friday, May 1st. The company reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.10. The firm had revenue of $4.97 billion during the quarter, compared to analyst estimates of $4.81 billion. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The business’s revenue was up 6.0% on a year-over-year basis. During the same period last year, the business earned $2.45 earnings per share. Equities analysts predict that Trane Technologies plc will post 14.9 EPS for the current year.
Trane Technologies Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 4th will be given a $1.05 dividend. This represents a $4.20 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, September 4th. Trane Technologies’s payout ratio is currently 32.48%.
About Trane Technologies
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.
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