Fruth Investment Management Has $6.43 Million Position in Trane Technologies plc (NYSE:TT)

Fruth Investment Management lessened its position in shares of Trane Technologies plc (NYSE:TT) by 1.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,430 shares of the company’s stock after selling 400 shares during the quarter. Trane Technologies comprises 1.7% of Fruth Investment Management’s holdings, making the stock its 10th biggest position. Fruth Investment Management’s holdings in Trane Technologies were worth $6,433,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of TT. First Trust Direct Indexing L.P. boosted its holdings in Trane Technologies by 9.9% during the first quarter. First Trust Direct Indexing L.P. now owns 7,131 shares of the company’s stock worth $2,141,000 after buying an additional 642 shares in the last quarter. Massachusetts Wealth Management increased its position in Trane Technologies by 4.6% during the first quarter. Massachusetts Wealth Management now owns 6,270 shares of the company’s stock worth $1,882,000 after purchasing an additional 275 shares during the last quarter. Norden Group LLC acquired a new stake in Trane Technologies during the first quarter worth about $646,000. Monument Capital Management acquired a new stake in Trane Technologies during the first quarter worth about $238,000. Finally, Azzad Asset Management Inc. ADV boosted its stake in Trane Technologies by 0.9% during the first quarter. Azzad Asset Management Inc. ADV now owns 6,294 shares of the company’s stock worth $1,889,000 after buying an additional 55 shares during the period. Institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling

In related news, SVP Evan M. Turtz sold 8,988 shares of the business’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $321.30, for a total value of $2,887,844.40. Following the completion of the transaction, the senior vice president now owns 20,758 shares of the company’s stock, valued at approximately $6,669,545.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Evan M. Turtz sold 8,988 shares of the business’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $321.30, for a total value of $2,887,844.40. Following the completion of the transaction, the senior vice president now owns 20,758 shares of the company’s stock, valued at approximately $6,669,545.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Christopher J. Kuehn sold 4,000 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $318.67, for a total transaction of $1,274,680.00. Following the transaction, the chief financial officer now directly owns 61,293 shares of the company’s stock, valued at approximately $19,532,240.31. The disclosure for this sale can be found here. Insiders own 0.38% of the company’s stock.

Trane Technologies Price Performance

Shares of NYSE TT traded up $6.46 during trading on Thursday, hitting $331.29. 687,786 shares of the company were exchanged, compared to its average volume of 1,478,274. The company has a market cap of $74.99 billion, a price-to-earnings ratio of 35.39, a PEG ratio of 2.52 and a beta of 1.01. Trane Technologies plc has a 1 year low of $184.02 and a 1 year high of $345.46. The firm’s fifty day moving average price is $327.14 and its 200 day moving average price is $291.89. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.13 and a quick ratio of 0.74.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Tuesday, April 30th. The company reported $1.94 EPS for the quarter, topping the consensus estimate of $1.64 by $0.30. Trane Technologies had a net margin of 11.81% and a return on equity of 32.78%. The business had revenue of $4.22 billion for the quarter, compared to analyst estimates of $3.99 billion. During the same period in the previous year, the firm earned $1.41 EPS. The business’s revenue for the quarter was up 15.0% compared to the same quarter last year. On average, sell-side analysts expect that Trane Technologies plc will post 10.48 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be given a $0.84 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $3.36 annualized dividend and a dividend yield of 1.01%. Trane Technologies’s dividend payout ratio is presently 35.90%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Mizuho raised their price objective on shares of Trane Technologies from $280.00 to $325.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Citigroup raised their price objective on shares of Trane Technologies from $355.00 to $366.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. UBS Group lifted their target price on shares of Trane Technologies from $330.00 to $375.00 and gave the company a “buy” rating in a report on Monday, June 3rd. The Goldman Sachs Group boosted their price objective on shares of Trane Technologies from $287.00 to $326.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Finally, TD Cowen boosted their price objective on shares of Trane Technologies from $325.00 to $360.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $309.79.

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.