Trane Technologies plc (NYSE:TT) Shares Purchased by KCM Investment Advisors LLC

KCM Investment Advisors LLC lifted its stake in Trane Technologies plc (NYSE:TT) by 0.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 103,406 shares of the company’s stock after acquiring an additional 195 shares during the period. Trane Technologies accounts for approximately 1.2% of KCM Investment Advisors LLC’s holdings, making the stock its 25th biggest position. KCM Investment Advisors LLC’s holdings in Trane Technologies were worth $34,013,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. International Assets Investment Management LLC lifted its position in Trane Technologies by 1.6% in the fourth quarter. International Assets Investment Management LLC now owns 4,241 shares of the company’s stock worth $1,034,000 after purchasing an additional 65 shares during the period. Blue Chip Partners LLC bought a new stake in shares of Trane Technologies in the 4th quarter worth $104,000. Choreo LLC lifted its holdings in shares of Trane Technologies by 39.4% in the fourth quarter. Choreo LLC now owns 3,675 shares of the company’s stock valued at $896,000 after buying an additional 1,039 shares during the period. Van ECK Associates Corp boosted its stake in Trane Technologies by 8.7% during the fourth quarter. Van ECK Associates Corp now owns 40,743 shares of the company’s stock valued at $9,937,000 after buying an additional 3,265 shares in the last quarter. Finally, Kestra Private Wealth Services LLC grew its holdings in Trane Technologies by 26.4% during the fourth quarter. Kestra Private Wealth Services LLC now owns 6,459 shares of the company’s stock worth $1,575,000 after acquiring an additional 1,350 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Trane Technologies Stock Performance

Shares of NYSE:TT traded up $6.64 during trading on Friday, reaching $361.66. The stock had a trading volume of 1,793,020 shares, compared to its average volume of 1,118,986. The firm has a market capitalization of $81.86 billion, a price-to-earnings ratio of 37.94, a P/E/G ratio of 2.50 and a beta of 1.01. Trane Technologies plc has a 52 week low of $184.02 and a 52 week high of $362.43. The company has a quick ratio of 0.74, a current ratio of 1.17 and a debt-to-equity ratio of 0.62. The stock has a fifty day simple moving average of $336.45 and a two-hundred day simple moving average of $316.45.

Trane Technologies (NYSE:TT) last released its earnings results on Wednesday, July 31st. The company reported $3.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.08 by $0.22. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. The firm had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.13 billion. During the same quarter last year, the firm posted $2.68 EPS. The company’s revenue was up 12.8% on a year-over-year basis. As a group, analysts anticipate that Trane Technologies plc will post 10.83 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be issued a dividend of $0.84 per share. The ex-dividend date is Friday, September 6th. This represents a $3.36 annualized dividend and a dividend yield of 0.93%. Trane Technologies’s payout ratio is 35.90%.

Analyst Ratings Changes

A number of brokerages have weighed in on TT. Robert W. Baird upped their price target on shares of Trane Technologies from $360.00 to $365.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Wells Fargo & Company increased their target price on shares of Trane Technologies from $310.00 to $315.00 and gave the company an “underweight” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. upped their target price on Trane Technologies from $247.00 to $300.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. Stephens reissued an “equal weight” rating and issued a $350.00 price target on shares of Trane Technologies in a research note on Monday, August 5th. Finally, Royal Bank of Canada upped their price objective on shares of Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Trane Technologies currently has a consensus rating of “Hold” and an average price target of $323.29.

Insider Activity

In other Trane Technologies news, CEO David S. Regnery sold 29,450 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $321.25, for a total value of $9,460,812.50. Following the completion of the transaction, the chief executive officer now owns 132,946 shares of the company’s stock, valued at approximately $42,708,902.50. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, EVP Raymond D. Pittard sold 1,805 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total transaction of $593,213.25. Following the completion of the transaction, the executive vice president now directly owns 83,517 shares of the company’s stock, valued at approximately $27,447,862.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David S. Regnery sold 29,450 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $321.25, for a total transaction of $9,460,812.50. Following the completion of the sale, the chief executive officer now directly owns 132,946 shares in the company, valued at approximately $42,708,902.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 44,243 shares of company stock valued at $14,216,550. Insiders own 0.38% of the company’s stock.

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.