Keel Point LLC Boosts Holdings in Trane Technologies plc (NYSE:TT)

Keel Point LLC boosted its position in Trane Technologies plc (NYSE:TT) by 3.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,326 shares of the company’s stock after buying an additional 39 shares during the quarter. Keel Point LLC’s holdings in Trane Technologies were worth $323,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Rosenberg Matthew Hamilton increased its position in Trane Technologies by 27.2% in the fourth quarter. Rosenberg Matthew Hamilton now owns 192 shares of the company’s stock worth $47,000 after buying an additional 41 shares during the period. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of Trane Technologies by 2.3% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,847 shares of the company’s stock worth $450,000 after acquiring an additional 42 shares during the period. Cedrus LLC lifted its position in Trane Technologies by 2.6% in the 4th quarter. Cedrus LLC now owns 1,669 shares of the company’s stock valued at $407,000 after purchasing an additional 43 shares during the last quarter. Certuity LLC boosted its stake in Trane Technologies by 3.1% during the 3rd quarter. Certuity LLC now owns 1,549 shares of the company’s stock valued at $314,000 after purchasing an additional 46 shares during the period. Finally, Integrated Wealth Concepts LLC grew its position in Trane Technologies by 2.4% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 1,972 shares of the company’s stock worth $400,000 after purchasing an additional 46 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Trading Up 0.6 %

NYSE TT opened at $295.71 on Wednesday. Trane Technologies plc has a twelve month low of $162.04 and a twelve month high of $306.98. The firm’s 50 day moving average price is $288.63 and its two-hundred day moving average price is $249.71. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.78 and a current ratio of 1.13. The stock has a market cap of $67.15 billion, a price-to-earnings ratio of 33.64, a PEG ratio of 2.48 and a beta of 1.05.

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

Trane Technologies Announces Dividend

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

Insider Activity

In other Trane Technologies news, CFO Christopher J. Kuehn sold 3,762 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $286.48, for a total transaction of $1,077,737.76. Following the completion of the transaction, the chief financial officer now owns 61,691 shares of the company’s stock, valued at approximately $17,673,237.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO David S. Regnery sold 6,990 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $286.19, for a total transaction of $2,000,468.10. Following the transaction, the chief executive officer now owns 113,874 shares of the company’s stock, valued at $32,589,600.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Christopher J. Kuehn sold 3,762 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $286.48, for a total transaction of $1,077,737.76. Following the completion of the sale, the chief financial officer now owns 61,691 shares in the company, valued at $17,673,237.68. The disclosure for this sale can be found here. Insiders have sold a total of 29,874 shares of company stock valued at $8,462,825 over the last 90 days. 0.39% of the stock is currently owned by company insiders.

Analyst Ratings Changes

TT has been the subject of a number of recent analyst reports. The Goldman Sachs Group increased their price objective on Trane Technologies from $253.00 to $287.00 and gave the stock a “neutral” rating in a report on Monday, February 5th. Barclays raised their price target on Trane Technologies from $286.00 to $325.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. Royal Bank of Canada upped their price objective on shares of Trane Technologies from $231.00 to $246.00 and gave the stock a “sector perform” rating in a report on Friday, February 2nd. Wells Fargo & Company raised their target price on shares of Trane Technologies from $200.00 to $246.00 and gave the company an “underweight” rating in a research note on Tuesday, December 19th. Finally, Stephens upped their price target on shares of Trane Technologies from $235.00 to $280.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $251.83.

About Trane Technologies

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.