Gibbs Wealth Management Makes New $622,000 Investment in Trane Technologies plc $TT

Gibbs Wealth Management purchased a new stake in Trane Technologies plc (NYSE:TT) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 1,493 shares of the company’s stock, valued at approximately $622,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Tucker Asset Management LLC purchased a new position in Trane Technologies during the 4th quarter valued at about $25,000. Wilkerson Advisory Group LLC boosted its position in shares of Trane Technologies by 136.0% in the first quarter. Wilkerson Advisory Group LLC now owns 59 shares of the company’s stock valued at $25,000 after acquiring an additional 34 shares during the period. Hilton Head Capital Partners LLC bought a new position in shares of Trane Technologies in the fourth quarter valued at approximately $32,000. JPL Wealth Management LLC purchased a new position in Trane Technologies during the third quarter valued at approximately $32,000. Finally, Physician Wealth Advisors Inc. increased its holdings in Trane Technologies by 192.6% during the 1st quarter. Physician Wealth Advisors Inc. now owns 79 shares of the company’s stock worth $33,000 after acquiring an additional 52 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insiders Place Their Bets

In related news, insider Donald E. Simmons sold 4,593 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider directly owned 3,819 shares in the company, valued at $1,909,500. This trade represents a 54.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is owned by corporate insiders.

Trane Technologies Stock Up 0.3%

TT opened at $481.09 on Friday. The company has a quick ratio of 0.77, a current ratio of 1.10 and a debt-to-equity ratio of 0.46. The business’s fifty day simple moving average is $470.13 and its 200 day simple moving average is $449.87. Trane Technologies plc has a 52 week low of $348.06 and a 52 week high of $505.87. The stock has a market cap of $106.34 billion, a PE ratio of 37.21, a P/E/G ratio of 2.21 and a beta of 1.19.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Friday, May 1st. The company reported $2.63 EPS for the quarter, beating the consensus estimate of $2.53 by $0.10. The firm had revenue of $4.97 billion for the quarter, compared to analyst estimates of $4.81 billion. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The company’s revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the company earned $2.45 EPS. As a group, research analysts expect that Trane Technologies plc will post 14.89 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders 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 dividend yield of 0.9%. Trane Technologies’s payout ratio is currently 32.48%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Citigroup raised their price target on shares of Trane Technologies from $525.00 to $570.00 and gave the company a “buy” rating in a report on Friday, May 1st. Weiss Ratings reiterated a “buy (b)” rating on shares of Trane Technologies in a research report on Friday, July 17th. BNP Paribas Exane began coverage on Trane Technologies in a research report on Tuesday, April 14th. They set an “outperform” rating and a $550.00 target price for the company. JPMorgan Chase & Co. upped their target price on Trane Technologies from $460.00 to $476.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. Finally, KeyCorp lifted their price target on Trane Technologies from $525.00 to $555.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $516.67.

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.