PFG Advisors Acquires 4,600 Shares of Trane Technologies plc $TT

PFG Advisors increased its holdings in shares of Trane Technologies plc (NYSE:TT) by 211.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,776 shares of the company’s stock after acquiring an additional 4,600 shares during the quarter. PFG Advisors’ holdings in Trane Technologies were worth $2,859,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Financial Consulate Inc. bought a new position in Trane Technologies during the third quarter worth $25,000. Icon Advisers Inc. Co. bought a new position in shares of Trane Technologies in the second quarter valued at about $26,000. United Community Bank lifted its stake in shares of Trane Technologies by 134.4% during the 3rd quarter. United Community Bank now owns 75 shares of the company’s stock worth $32,000 after buying an additional 43 shares during the last quarter. Halbert Hargrove Global Advisors LLC boosted its holdings in shares of Trane Technologies by 34.2% during the 3rd quarter. Halbert Hargrove Global Advisors LLC now owns 102 shares of the company’s stock worth $43,000 after buying an additional 26 shares during the period. Finally, Hantz Financial Services Inc. boosted its holdings in shares of Trane Technologies by 58.2% during the 3rd quarter. Hantz Financial Services Inc. now owns 106 shares of the company’s stock worth $45,000 after buying an additional 39 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Activity at Trane Technologies

In related news, CEO David S. Regnery sold 36,045 shares of the firm’s 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 sale, the chief executive officer owned 96,948 shares of the company’s stock, valued at $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 available through this hyperlink. Also, insider Donald E. Simmons sold 3,762 shares of the business’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 $1,590,197.40. Following the sale, the insider owned 3,819 shares in the company, valued at $1,614,291.30. This represents a 49.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 49,378 shares of company stock worth $21,228,464. Corporate insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on TT. Morgan Stanley lowered their price target on shares of Trane Technologies from $550.00 to $535.00 and set an “overweight” rating on the stock in a report on Tuesday, January 13th. Citigroup upped their target price on Trane Technologies from $513.00 to $525.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Barclays increased 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. Wells Fargo & Company lifted their price target on Trane Technologies from $375.00 to $400.00 and gave the stock an “underweight” rating in a report on Friday, January 30th. Finally, UBS Group reduced their price target on Trane Technologies from $544.00 to $520.00 and set a “buy” rating for the company in a research note on Monday, January 5th. One equities research 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’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $484.67.

Trane Technologies Stock Performance

NYSE TT opened at $427.89 on Tuesday. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $479.37. The firm has a 50-day moving average price of $423.43 and a two-hundred day moving average price of $417.02. The company has a market capitalization of $94.70 billion, a P/E ratio of 32.97, a P/E/G ratio of 2.23 and a beta of 1.19. The company has a quick ratio of 0.92, a current ratio of 1.25 and a debt-to-equity ratio of 0.46.

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

Trane Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 6th will be paid a $1.05 dividend. This represents a $4.20 annualized dividend and a 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 currently 32.36%.

Trane Technologies 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.