Sienna Gestion Purchases New Stake in Trane Technologies plc $TT

Sienna Gestion purchased a new stake in Trane Technologies plc (NYSE:TT) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 37,952 shares of the company’s stock, valued at approximately $14,792,000. Trane Technologies comprises 0.9% of Sienna Gestion’s portfolio, making the stock its 27th largest holding.

Other hedge funds have also recently added to or reduced their stakes in the company. Tucker Asset Management LLC acquired a new position in Trane Technologies in the fourth quarter valued at about $25,000. JPL Wealth Management LLC acquired a new stake in shares of Trane Technologies during the third quarter worth about $32,000. Hilton Head Capital Partners LLC acquired a new stake in shares of Trane Technologies during the fourth quarter worth about $32,000. Creative Financial Designs Inc. ADV grew its holdings in shares of Trane Technologies by 119.5% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 90 shares of the company’s stock worth $35,000 after buying an additional 49 shares in the last quarter. Finally, KERR FINANCIAL PLANNING Corp bought a new position in shares of Trane Technologies during the third quarter worth about $42,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on TT. JPMorgan Chase & Co. raised their price target on Trane Technologies from $460.00 to $476.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. Barclays lifted their target price on Trane Technologies from $507.00 to $585.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. BNP Paribas Exane started coverage on Trane Technologies in a research note on Tuesday, April 14th. They set an “outperform” rating and a $550.00 target price for the company. Royal Bank Of Canada lifted their price target on Trane Technologies from $440.00 to $501.00 and gave the stock a “sector perform” rating in a report on Friday, May 1st. Finally, KeyCorp lifted their price target on Trane Technologies from $525.00 to $555.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $509.12.

Trane Technologies Price Performance

Shares of TT opened at $472.54 on Tuesday. The business has a 50-day simple moving average of $464.34 and a two-hundred day simple moving average of $433.68. Trane Technologies plc has a 12-month low of $348.06 and a 12-month high of $503.47. The stock has a market cap of $104.45 billion, a PE ratio of 36.55, a PEG ratio of 2.11 and a beta of 1.20. The company has a quick ratio of 0.77, a current ratio of 1.10 and a debt-to-equity ratio of 0.46.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Friday, May 1st. The company reported $2.63 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.10. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The firm had revenue of $4.97 billion for the quarter, compared to analyst estimates of $4.81 billion. During the same quarter in the previous year, the company posted $2.45 EPS. The business’s revenue was up 6.0% on a year-over-year basis. Analysts anticipate that Trane Technologies plc will post 14.88 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, September 4th will be given a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, September 4th. Trane Technologies’s payout ratio is 32.48%.

Insider Activity

In other Trane Technologies news, CFO Christopher J. Kuehn sold 8,619 shares of the firm’s stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $450.00, for a total value of $3,878,550.00. Following the completion of the sale, the chief financial officer directly owned 60,576 shares in the company, valued at approximately $27,259,200. This trade represents a 12.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Donald E. Simmons sold 4,593 shares of the firm’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $500.00, for a total transaction of $2,296,500.00. Following the completion of the sale, the insider owned 3,819 shares of the company’s stock, valued at $1,909,500. The trade was a 54.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is owned by corporate 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.