Turtle Creek Wealth Advisors LLC lifted its stake in Trane Technologies plc (NYSE:TT – Free Report) by 24.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 23,252 shares of the company’s stock after purchasing an additional 4,639 shares during the quarter. Turtle Creek Wealth Advisors LLC’s holdings in Trane Technologies were worth $9,690,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Tucker Asset Management LLC purchased a new stake in Trane Technologies during the fourth quarter valued at about $25,000. JPL Wealth Management LLC purchased a new position in shares of Trane Technologies in the third quarter worth approximately $32,000. Physician Wealth Advisors Inc. raised its holdings in shares of Trane Technologies by 192.6% during the first quarter. Physician Wealth Advisors Inc. now owns 79 shares of the company’s stock valued at $33,000 after acquiring an additional 52 shares during the period. Hilton Head Capital Partners LLC acquired a new stake in shares of Trane Technologies during the fourth quarter valued at approximately $32,000. Finally, Kemnay Advisory Services Inc. purchased a new stake in shares of Trane Technologies in the 4th quarter valued at approximately $34,000. Institutional investors and hedge funds own 82.97% of the company’s stock.
Trane Technologies Trading Down 1.4%
Shares of NYSE:TT opened at $477.76 on Friday. The firm has a fifty day moving average of $470.69 and a two-hundred day moving average of $440.67. 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 12-month low of $348.06 and a 12-month high of $505.87. The firm has a market capitalization of $105.61 billion, a P/E ratio of 36.95, a price-to-earnings-growth ratio of 2.23 and a beta of 1.19.
Trane Technologies Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 4th will be issued a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, September 4th. Trane Technologies’s payout ratio is currently 32.48%.
Insider Activity at Trane Technologies
In related news, insider Donald E. Simmons sold 4,593 shares of the stock in a transaction that occurred on 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 transaction, the insider owned 3,819 shares in the company, valued at approximately $1,909,500. This represents a 54.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Christopher J. Kuehn sold 8,619 shares of the firm’s stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $450.00, for a total transaction of $3,878,550.00. Following the transaction, the chief financial officer directly owned 60,576 shares in the company, valued at approximately $27,259,200. The trade was a 12.46% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.43% of the company’s stock.
Wall Street Analyst Weigh In
Several research firms have weighed in on TT. JPMorgan Chase & Co. lifted their price objective on shares of Trane Technologies from $460.00 to $476.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. BNP Paribas Exane initiated coverage on Trane Technologies in a research report on Tuesday, April 14th. They issued an “outperform” rating and a $550.00 target price for the company. KeyCorp upped their price target on Trane Technologies from $525.00 to $555.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Weiss Ratings restated a “buy (b)” rating on shares of Trane Technologies in a research report on Monday, April 20th. Finally, Evercore started coverage on Trane Technologies in a research note on Monday, April 13th. They set an “outperform” rating and a $535.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $509.12.
View Our Latest Stock Report on TT
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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