KCM Investment Advisors LLC lowered its stake in Trane Technologies plc (NYSE:TT – Free Report) by 2.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 94,579 shares of the company’s stock after selling 2,121 shares during the quarter. Trane Technologies makes up approximately 1.3% of KCM Investment Advisors LLC’s investment portfolio, making the stock its 24th largest position. KCM Investment Advisors LLC’s holdings in Trane Technologies were worth $39,415,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Tucker Asset Management LLC acquired a new position in shares of Trane Technologies during the 4th quarter worth approximately $25,000. Wilkerson Advisory Group LLC raised its stake in shares of Trane Technologies by 136.0% during the 1st quarter. Wilkerson Advisory Group LLC now owns 59 shares of the company’s stock worth $25,000 after purchasing an additional 34 shares in the last quarter. Hilton Head Capital Partners LLC acquired a new stake in shares of Trane Technologies in the 4th quarter valued at approximately $32,000. JPL Wealth Management LLC bought a new position in shares of Trane Technologies in the third quarter valued at $32,000. Finally, Physician Wealth Advisors Inc. grew its stake in shares of Trane Technologies by 192.6% in the first quarter. Physician Wealth Advisors Inc. now owns 79 shares of the company’s stock valued at $33,000 after buying an additional 52 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms have issued reports on TT. KeyCorp upped their price target on shares of Trane Technologies from $525.00 to $555.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Weiss Ratings reissued a “buy (b)” rating on shares of Trane Technologies in a research report on Friday, July 17th. Sanford C. Bernstein set a $555.00 price objective on shares of Trane Technologies in a research note on Thursday, July 9th. Barclays upped their target price on shares of Trane Technologies from $507.00 to $585.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Finally, Citigroup raised their target price on shares of Trane Technologies from $525.00 to $570.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $516.67.
Trane Technologies Trading Up 0.5%
Shares of Trane Technologies stock opened at $483.20 on Tuesday. The business has a fifty day simple moving average of $470.58 and a two-hundred day simple moving average of $451.01. Trane Technologies plc has a 1 year low of $348.06 and a 1 year high of $505.87. The company has a market capitalization of $106.81 billion, a price-to-earnings ratio of 37.37, a P/E/G ratio of 2.21 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 (NYSE:TT – Get Free Report) last released its quarterly earnings data on Friday, May 1st. The company reported $2.63 EPS for the quarter, beating the consensus estimate of $2.53 by $0.10. The firm 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%. The company’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.45 earnings per share. Research analysts forecast that Trane Technologies plc will post 14.89 EPS 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 issued 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 dividend payout ratio is currently 32.48%.
Insider Transactions at Trane Technologies
In other news, insider Donald E. Simmons sold 4,593 shares of the business’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $500.00, for a total transaction of $2,296,500.00. Following the completion of the sale, the insider owned 3,819 shares in the company, valued at $1,909,500. The trade was a 54.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is owned by company insiders.
Trane Technologies Company 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.
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