KPP Advisory Services LLC Makes New $855,000 Investment in Trane Technologies plc $TT

KPP Advisory Services LLC acquired a new position in Trane Technologies plc (NYSE:TT) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,052 shares of the company’s stock, valued at approximately $855,000.

Other large investors also recently modified their holdings of the company. Aptus Capital Advisors LLC raised its position in Trane Technologies by 169.8% in the 3rd quarter. Aptus Capital Advisors LLC now owns 14,738 shares of the company’s stock worth $6,219,000 after purchasing an additional 9,276 shares during the period. Nordea Investment Management AB boosted its position in Trane Technologies by 2.9% during the fourth quarter. Nordea Investment Management AB now owns 2,586,506 shares of the company’s stock valued at $1,010,419,000 after buying an additional 72,998 shares during the period. Farther Finance Advisors LLC grew its stake in shares of Trane Technologies by 64.0% during the fourth quarter. Farther Finance Advisors LLC now owns 7,478 shares of the company’s stock valued at $2,911,000 after buying an additional 2,917 shares during the last quarter. Dara Capital US Inc. purchased a new position in shares of Trane Technologies in the fourth quarter worth about $966,000. Finally, Korea Investment CORP increased its holdings in shares of Trane Technologies by 17.5% in the third quarter. Korea Investment CORP now owns 204,695 shares of the company’s stock worth $86,373,000 after buying an additional 30,558 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Trading Down 1.4%

TT opened at $477.76 on Friday. Trane Technologies plc has a one year low of $348.06 and a one year high of $505.87. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.10 and a quick ratio of 0.77. The business has a 50 day simple moving average of $470.69 and a two-hundred day simple moving average of $440.67. The firm has a market capitalization of $105.61 billion, a price-to-earnings ratio of 36.95, a PEG ratio of 2.23 and a beta of 1.19.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Friday, May 1st. The company reported $2.63 earnings per share for the quarter, topping 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 period last year, the company earned $2.45 EPS. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. Analysts predict that Trane Technologies plc will post 14.9 EPS for the current year.

Trane Technologies Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Citigroup increased their target price on Trane Technologies from $525.00 to $570.00 and gave the company a “buy” rating in a report on Friday, May 1st. KeyCorp boosted their price objective on Trane Technologies from $525.00 to $555.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Weiss Ratings reissued a “buy (b)” rating on shares of Trane Technologies in a research note on Monday, April 20th. JPMorgan Chase & Co. raised their target price on shares of Trane Technologies from $460.00 to $476.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Finally, Royal Bank Of Canada lifted their target price on shares of Trane Technologies from $440.00 to $501.00 and gave the stock a “sector perform” rating in a research note on Friday, May 1st. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $509.12.

Insiders Place Their Bets

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

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.