CGN Advisors LLC Buys New Shares in Trane Technologies plc $TT

CGN Advisors LLC purchased a new position in Trane Technologies plc (NYSE:TT) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 3,099 shares of the company’s stock, valued at approximately $1,206,000.

A number of other institutional investors and hedge funds have also bought and sold shares of TT. Financial Consulate Inc. bought a new position in shares of Trane Technologies in the third quarter worth about $25,000. Icon Advisers Inc. Co. bought a new stake in Trane Technologies during the 2nd quarter valued at approximately $26,000. United Community Bank lifted its holdings in Trane Technologies by 134.4% in the 3rd quarter. United Community Bank now owns 75 shares of the company’s stock worth $32,000 after purchasing an additional 43 shares in the last quarter. JPL Wealth Management LLC bought a new position in Trane Technologies in the 3rd quarter worth approximately $32,000. Finally, KERR FINANCIAL PLANNING Corp bought a new position in Trane Technologies in the 3rd quarter worth approximately $42,000. 82.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on TT shares. KeyCorp upgraded shares of Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 price objective on the stock in a research report on Monday, December 15th. Morgan Stanley cut their target price on shares of Trane Technologies from $550.00 to $535.00 and set an “overweight” rating for the company in a research note on Tuesday, January 13th. Royal Bank Of Canada lifted their price target on shares of Trane Technologies from $469.00 to $470.00 and gave the company a “sector perform” rating in a report on Friday, January 30th. Citigroup boosted their price target on shares of Trane Technologies from $513.00 to $525.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Trane Technologies in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $484.67.

Trane Technologies Trading Down 3.0%

Shares of TT opened at $410.35 on Friday. The stock has a market capitalization of $90.82 billion, a PE ratio of 31.61, a P/E/G ratio of 2.23 and a beta of 1.19. The company’s fifty day moving average is $430.25 and its 200 day moving average is $417.25. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.25. Trane Technologies plc has a fifty-two week low of $298.15 and a fifty-two week high of $479.37.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Thursday, January 29th. The company reported $2.86 EPS for the quarter, beating the consensus estimate of $2.81 by $0.05. Trane Technologies had a net margin of 13.69% and a return on equity of 36.34%. The business had revenue of $5.14 billion during the quarter, compared to analyst estimates of $5.09 billion. During the same quarter last year, the business earned $2.61 earnings per share. Trane Technologies’s quarterly revenue was up 5.6% compared to the same quarter last year. Sell-side analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 6th will be issued a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, March 6th. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.94. Trane Technologies’s payout ratio is 32.36%.

Insider Buying and Selling

In related news, CAO Elizabeth A. Elwell sold 635 shares of the firm’s stock in a transaction on Friday, March 6th. The stock was sold at an average price of $422.70, for a total value of $268,414.50. Following the completion of the sale, the chief accounting officer directly owned 7,100 shares in the company, valued at $3,001,170. This trade represents a 8.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David S. Regnery sold 36,045 shares of Trane Technologies stock in a transaction on Friday, March 6th. The stock was sold at an average price of $422.69, for a total transaction of $15,235,861.05. Following the transaction, the chief executive officer directly owned 96,948 shares of the company’s stock, valued at $40,978,950.12. The trade was a 27.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 49,378 shares of company stock worth $21,228,464. Insiders own 0.14% of the company’s stock.

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.