Clear Trail Advisors LLC Makes New $1.25 Million Investment in Trane Technologies plc $TT

Clear Trail Advisors LLC acquired a new stake in Trane Technologies plc (NYSE:TT) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 3,200 shares of the company’s stock, valued at approximately $1,245,000.

Several other hedge funds and other institutional investors have also made changes to their positions in TT. JPMorgan Chase & Co. grew its position in shares of Trane Technologies by 10.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 15,525,010 shares of the company’s stock valued at $6,550,975,000 after acquiring an additional 1,433,563 shares during the period. State Street Corp raised its holdings in shares of Trane Technologies by 0.3% in the 2nd quarter. State Street Corp now owns 10,077,267 shares of the company’s stock valued at $4,407,904,000 after purchasing an additional 31,826 shares during the period. Norges Bank acquired a new stake in Trane Technologies in the 2nd quarter valued at about $1,356,065,000. Nordea Investment Management AB grew its holdings in Trane Technologies by 2.9% during the fourth quarter. Nordea Investment Management AB now owns 2,586,506 shares of the company’s stock worth $1,010,419,000 after purchasing an additional 72,998 shares during the period. Finally, Bank of America Corp DE increased its position in Trane Technologies by 9.2% during the third quarter. Bank of America Corp DE now owns 2,422,690 shares of the company’s stock worth $1,022,278,000 after buying an additional 203,766 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

TT has been the subject of several research analyst reports. Barclays lifted their target price on Trane Technologies from $505.00 to $507.00 and gave the stock an “overweight” rating in a research note on Friday, January 30th. UBS Group reduced their price objective on shares of Trane Technologies from $544.00 to $520.00 and set a “buy” rating for the company in a research report on Monday, January 5th. Morgan Stanley dropped their price objective on shares of Trane Technologies from $550.00 to $535.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 13th. Citigroup raised their target price 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 restated a “buy (b)” rating on shares of Trane Technologies in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $484.67.

Insider Activity

In related news, CEO David S. Regnery sold 36,045 shares of the stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $422.69, for a total transaction of $15,235,861.05. Following the sale, the chief executive officer owned 96,948 shares in the company, valued at approximately $40,978,950.12. This trade represents a 27.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Donald E. Simmons sold 3,762 shares of Trane Technologies stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $422.70, for a total transaction of $1,590,197.40. Following the completion of the transaction, the insider directly owned 3,819 shares in the company, valued at $1,614,291.30. This trade represents a 49.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 49,378 shares of company stock valued at $21,228,464 in the last 90 days. 0.14% of the stock is owned by corporate insiders.

Trane Technologies Trading Up 3.7%

Shares of NYSE:TT opened at $425.49 on Tuesday. The company has a market capitalization of $94.18 billion, a P/E ratio of 32.78, a P/E/G ratio of 2.16 and a beta of 1.19. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.92. The business’s 50 day simple moving average is $431.05 and its 200 day simple moving average is $417.45. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $479.37.

Trane Technologies (NYSE:TT) last released its earnings results on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.81 by $0.05. Trane Technologies had a return on equity of 36.34% and a net margin of 13.69%.The company had revenue of $5.14 billion for the quarter, compared to analyst estimates of $5.09 billion. During the same period in the prior year, the firm posted $2.61 EPS. Trane Technologies’s quarterly revenue was up 5.6% on a year-over-year basis. On average, research analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Increases Dividend

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

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.