ProCore Advisors LLC Purchases New Holdings in Trane Technologies plc $TT

ProCore Advisors LLC purchased a new stake in Trane Technologies plc (NYSE:TT) during the 4th quarter, Holdings Channel.com reports. The fund purchased 2,412 shares of the company’s stock, valued at approximately $939,000. Trane Technologies comprises 1.0% of ProCore Advisors LLC’s investment portfolio, making the stock its 24th largest holding.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Financial Consulate Inc. acquired a new position in Trane Technologies during the 3rd quarter worth approximately $25,000. United Community Bank increased its position in 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 purchasing an additional 43 shares during the period. JPL Wealth Management LLC acquired a new position in Trane Technologies during the 3rd quarter worth approximately $32,000. KERR FINANCIAL PLANNING Corp acquired a new position in Trane Technologies during the 3rd quarter worth approximately $42,000. Finally, Halbert Hargrove Global Advisors LLC increased its position in 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 purchasing an additional 26 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Buying and Selling

In related news, insider Donald E. Simmons sold 3,762 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $1,614,291.30. This represents a 49.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David S. Regnery sold 36,045 shares of the company’s stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $422.69, for a total value of $15,235,861.05. Following the completion of the sale, the chief executive officer directly owned 96,948 shares in the company, valued at approximately $40,978,950.12. The trade was a 27.10% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 49,378 shares of company stock worth $21,228,464 in the last quarter. Corporate insiders own 0.14% of the company’s stock.

Trane Technologies Stock Performance

TT opened at $431.77 on Wednesday. The stock has a market cap of $95.56 billion, a P/E ratio of 33.26, a P/E/G ratio of 2.25 and a beta of 1.21. 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 stock’s 50 day simple moving average is $438.26 and its 200 day simple moving average is $418.61. Trane Technologies plc has a 1-year low of $310.80 and a 1-year high of $479.37.

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

Trane Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 5th will be issued a $1.05 dividend. The ex-dividend date is Friday, June 5th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 1.0%. Trane Technologies’s dividend payout ratio is currently 32.36%.

Analysts Set New Price Targets

Several equities analysts have issued reports on TT shares. Wells Fargo & Company boosted their target price on Trane Technologies from $375.00 to $400.00 and gave the stock an “underweight” rating in a research report on Friday, January 30th. Morgan Stanley dropped their target price on 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 boosted their target price on Trane Technologies from $513.00 to $525.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Barclays upped their price target on Trane Technologies from $505.00 to $507.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. Finally, Oppenheimer upped their price target on Trane Technologies from $460.00 to $468.00 and gave the stock an “outperform” rating in a report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $484.67.

About Trane Technologies

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.