Kooman & Associates Invests $222,000 in Trane Technologies plc (NYSE:TT)

Kooman & Associates bought a new position in Trane Technologies plc (NYSE:TT) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 570 shares of the company’s stock, valued at approximately $222,000.

Several other institutional investors have also recently made changes to their positions in TT. Empowered Funds LLC lifted its holdings in Trane Technologies by 138.0% during the 1st quarter. Empowered Funds LLC now owns 6,667 shares of the company’s stock valued at $2,001,000 after buying an additional 3,866 shares in the last quarter. Nordea Investment Management AB increased its position in Trane Technologies by 3.0% during the 1st quarter. Nordea Investment Management AB now owns 453,212 shares of the company’s stock valued at $135,796,000 after purchasing an additional 13,078 shares during the period. Sei Investments Co. increased its position in Trane Technologies by 379.2% during the 1st quarter. Sei Investments Co. now owns 306,165 shares of the company’s stock valued at $91,909,000 after purchasing an additional 242,271 shares during the period. Albar Capital Ltd purchased a new position in Trane Technologies during the 2nd quarter valued at about $14,556,000. Finally, M&G Plc purchased a new position in Trane Technologies during the 1st quarter valued at about $8,939,000. Institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on TT shares. Wells Fargo & Company raised their target price on shares of Trane Technologies from $320.00 to $360.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. Stephens reissued an “equal weight” rating and set a $350.00 target price on shares of Trane Technologies in a research report on Monday, August 5th. Mizuho lifted their price objective on shares of Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Morgan Stanley started coverage on shares of Trane Technologies in a research report on Friday, September 6th. They issued an “overweight” rating and a $425.00 price objective on the stock. Finally, Robert W. Baird lifted their price objective on shares of Trane Technologies from $360.00 to $365.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $373.58.

Insider Transactions at Trane Technologies

In other news, CEO David S. Regnery sold 29,450 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $321.25, for a total transaction of $9,460,812.50. Following the sale, the chief executive officer now owns 132,946 shares of the company’s stock, valued at approximately $42,708,902.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO David S. Regnery sold 29,450 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $321.25, for a total value of $9,460,812.50. Following the sale, the chief executive officer now owns 132,946 shares of the company’s stock, valued at $42,708,902.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Raymond D. Pittard sold 1,805 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total transaction of $593,213.25. Following the completion of the sale, the executive vice president now directly owns 83,517 shares in the company, valued at approximately $27,447,862.05. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.38% of the company’s stock.

Trane Technologies Stock Performance

NYSE TT opened at $392.57 on Friday. The firm’s 50-day moving average is $374.71 and its two-hundred day moving average is $342.75. Trane Technologies plc has a 12 month low of $184.24 and a 12 month high of $406.96. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.17 and a quick ratio of 0.84. The stock has a market capitalization of $88.59 billion, a P/E ratio of 38.83, a PEG ratio of 2.70 and a beta of 1.01.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $3.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.08 by $0.22. The business had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.13 billion. Trane Technologies had a net margin of 12.33% and a return on equity of 33.97%. The business’s quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.68 earnings per share. On average, sell-side analysts anticipate that Trane Technologies plc will post 10.89 earnings per share for the current year.

Trane Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.36 annualized dividend and a dividend yield of 0.86%. Trane Technologies’s dividend payout ratio is presently 33.23%.

About Trane Technologies

Trane Technologies plc, together with its subsidiaries, designs, manufactures, sells, and services of solutions for heating, ventilation, air conditioning, custom, and custom and transport refrigeration in Ireland and internationally. It offers air conditioners, exchangers, and handlers; airside and terminal devices; air sourced heat pumps, auxiliary power units; chillers; coils and condensers; gensets; dehumidifiers; ductless; furnaces; home automation products; humidifiers; indoor air quality assessments and related products; large and light commercial unitary products; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.