Hager Investment Management Services LLC Takes $473,000 Position in Trane Technologies plc $TT

Hager Investment Management Services LLC purchased a new position in shares of Trane Technologies plc (NYSE:TT) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,121 shares of the company’s stock, valued at approximately $473,000.

Other large investors have also modified their holdings of the company. Financial Consulate Inc. acquired a new position in shares of Trane Technologies during the 3rd quarter worth approximately $25,000. Icon Advisers Inc. Co. purchased a new stake in shares of Trane Technologies in the second quarter valued at $26,000. Hantz Financial Services Inc. boosted its stake in shares of Trane Technologies by 1,016.7% during the second quarter. Hantz Financial Services Inc. now owns 67 shares of the company’s stock valued at $29,000 after acquiring an additional 61 shares during the last quarter. 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 in the last quarter. Finally, Halbert Hargrove Global Advisors LLC raised its stake in Trane Technologies by 34.2% in the 3rd quarter. Halbert Hargrove Global Advisors LLC now owns 102 shares of the company’s stock valued at $43,000 after purchasing an additional 26 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Trane Technologies news, insider Donald E. Simmons sold 822 shares of the company’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $462.57, for a total value of $380,232.54. Following the completion of the transaction, the insider owned 3,819 shares in the company, valued at $1,766,554.83. This represents a 17.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Elizabeth A. Elwell sold 137 shares of the stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $462.48, for a total transaction of $63,359.76. Following the completion of the sale, the chief accounting officer directly owned 7,100 shares of the company’s stock, valued at $3,283,608. This trade represents a 1.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 8,936 shares of company stock valued at $4,133,991. Insiders own 0.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Trane Technologies in a research note on Wednesday, January 21st. Royal Bank Of Canada raised their target price on shares of Trane Technologies from $469.00 to $470.00 and gave the stock a “sector perform” rating in a research report on Friday, January 30th. Bank of America raised shares of Trane Technologies from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $490.00 to $550.00 in a research note on Thursday, November 13th. Barclays increased their price target on Trane Technologies from $505.00 to $507.00 and gave the stock an “overweight” rating in a research note on Friday, January 30th. Finally, Citigroup upped their target price on Trane Technologies from $513.00 to $525.00 and gave the company a “buy” rating in a research note on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $484.67.

Trane Technologies Stock Performance

Shares of TT stock opened at $460.32 on Thursday. The company has a current ratio of 1.25, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. The company has a market cap of $101.88 billion, a PE ratio of 35.46, a P/E/G ratio of 2.44 and a beta of 1.21. The company’s fifty day simple moving average is $414.81 and its 200-day simple moving average is $416.19. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $479.37.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.81 by $0.05. The firm 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%.The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.61 EPS. As a group, equities research analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 6th will be issued a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, March 6th. This is an increase from Trane Technologies’s previous quarterly dividend of $0.94. Trane Technologies’s dividend payout ratio (DPR) is 28.97%.

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.