Cerity Partners LLC Grows Position in Trane Technologies plc (NYSE:TT)

Cerity Partners LLC raised its position in shares of Trane Technologies plc (NYSE:TT) by 137.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 33,549 shares of the company’s stock after buying an additional 19,446 shares during the quarter. Cerity Partners LLC’s holdings in Trane Technologies were worth $8,183,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. BKM Wealth Management LLC purchased a new stake in shares of Trane Technologies during the fourth quarter valued at about $25,000. Venturi Wealth Management LLC increased its holdings in shares of Trane Technologies by 139.7% during the third quarter. Venturi Wealth Management LLC now owns 151 shares of the company’s stock valued at $31,000 after acquiring an additional 88 shares in the last quarter. Live Oak Investment Partners acquired a new position in shares of Trane Technologies during the fourth quarter valued at about $30,000. Avior Wealth Management LLC increased its holdings in shares of Trane Technologies by 58.0% during the third quarter. Avior Wealth Management LLC now owns 177 shares of the company’s stock valued at $36,000 after acquiring an additional 65 shares in the last quarter. Finally, Rosenberg Matthew Hamilton increased its holdings in shares of Trane Technologies by 27.2% during the fourth quarter. Rosenberg Matthew Hamilton now owns 192 shares of the company’s stock valued at $47,000 after acquiring an additional 41 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Royal Bank of Canada upped their price objective on shares of Trane Technologies from $231.00 to $246.00 and gave the company a “sector perform” rating in a report on Friday, February 2nd. Stephens upped their price objective on shares of Trane Technologies from $235.00 to $280.00 and gave the company an “equal weight” rating in a report on Tuesday, February 6th. Wells Fargo & Company upped their price objective on shares of Trane Technologies from $200.00 to $246.00 and gave the company an “underweight” rating in a report on Tuesday, December 19th. Citigroup increased their price target on shares of Trane Technologies from $309.00 to $355.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Finally, The Goldman Sachs Group increased their price target on shares of Trane Technologies from $253.00 to $287.00 and gave the stock a “neutral” rating in a report on Monday, February 5th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Trane Technologies currently has an average rating of “Hold” and an average price target of $251.83.

Trane Technologies Price Performance

Shares of NYSE TT opened at $293.88 on Tuesday. The stock has a market capitalization of $66.73 billion, a price-to-earnings ratio of 33.43, a PEG ratio of 2.51 and a beta of 1.05. Trane Technologies plc has a 12 month low of $162.04 and a 12 month high of $306.98. The firm’s 50 day simple moving average is $288.12 and its 200-day simple moving average is $249.06. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.13 and a quick ratio of 0.78.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Thursday, February 1st. The company reported $2.17 EPS for the quarter, topping analysts’ consensus estimates of $2.13 by $0.04. The business had revenue of $4.42 billion for the quarter, compared to analysts’ expectations of $4.43 billion. Trane Technologies had a net margin of 11.45% and a return on equity of 32.01%. The business’s revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the company earned $1.82 EPS. Analysts expect that Trane Technologies plc will post 10.2 EPS for the current year.

Trane Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be given a dividend of $0.84 per share. The ex-dividend date is Thursday, June 6th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.14%. Trane Technologies’s dividend payout ratio (DPR) is 38.23%.

Insider Activity

In other news, SVP Keith A. Sultana sold 1,637 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $267.74, for a total transaction of $438,290.38. Following the transaction, the senior vice president now owns 42,374 shares in the company, valued at approximately $11,345,214.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, SVP Keith A. Sultana sold 1,637 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $267.74, for a total transaction of $438,290.38. Following the completion of the sale, the senior vice president now directly owns 42,374 shares of the company’s stock, valued at approximately $11,345,214.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Paul A. Camuti sold 508 shares of Trane Technologies stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $273.34, for a total value of $138,856.72. Following the completion of the transaction, the executive vice president now directly owns 89,447 shares of the company’s stock, valued at $24,449,442.98. The disclosure for this sale can be found here. Insiders have sold 29,874 shares of company stock worth $8,462,825 in the last quarter. Corporate insiders own 0.39% of the company’s stock.

Trane Technologies 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.