Main Street Research LLC Has $33.17 Million Stock Holdings in Trane Technologies plc $TT

Main Street Research LLC grew its stake in shares of Trane Technologies plc (NYSE:TT) by 3.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 78,610 shares of the company’s stock after purchasing an additional 2,261 shares during the period. Trane Technologies comprises about 1.8% of Main Street Research LLC’s holdings, making the stock its 28th biggest holding. Main Street Research LLC’s holdings in Trane Technologies were worth $33,170,000 as of its most recent filing with the Securities & Exchange Commission.

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

Trane Technologies Stock Up 0.2%

Shares of Trane Technologies stock opened at $422.66 on Friday. 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 firm has a market cap of $93.55 billion, a price-to-earnings ratio of 32.56, a P/E/G ratio of 2.22 and a beta of 1.19. The stock has a 50-day simple moving average of $426.27 and a 200-day simple moving average of $417.25. Trane Technologies plc has a 52-week low of $298.15 and a 52-week high of $479.37.

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

Trane Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 6th will be issued a dividend of $1.05 per share. The ex-dividend date of this dividend is Friday, March 6th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 1.0%. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.94. Trane Technologies’s payout ratio is currently 32.36%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on TT shares. Melius Research raised shares of Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 price objective for the company in a research note on Wednesday, January 7th. Wells Fargo & Company boosted their target price on shares of Trane Technologies from $375.00 to $400.00 and gave the company an “underweight” rating in a research note on Friday, January 30th. UBS Group reduced their target price on Trane Technologies from $544.00 to $520.00 and set a “buy” rating for the company in a report on Monday, January 5th. Oppenheimer raised their target price on Trane Technologies from $460.00 to $468.00 and gave the stock an “outperform” rating in a research report on Friday, January 30th. Finally, Royal Bank Of Canada upped their price target on Trane Technologies from $469.00 to $470.00 and gave the company a “sector perform” rating in a research report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $484.67.

Insider Buying and Selling

In related news, insider Donald E. Simmons sold 3,762 shares of the company’s stock in a transaction on Friday, March 6th. The shares were sold at an average price of $422.70, for a total transaction of $1,590,197.40. Following the completion of the sale, the insider directly 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 is accessible through this hyperlink. Also, CFO Christopher J. Kuehn sold 2,389 shares of the company’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $462.70, for a total transaction of $1,105,390.30. Following the sale, the chief financial officer owned 60,486 shares of the company’s stock, valued at $27,986,872.20. This trade represents a 3.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 49,378 shares of company stock valued at $21,228,464 over the last 90 days. 0.14% of the stock is currently owned by insiders.

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.