KCM Investment Advisors LLC Sells 2,121 Shares of Trane Technologies plc $TT

KCM Investment Advisors LLC cut its stake in Trane Technologies plc (NYSE:TT) by 2.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 94,579 shares of the company’s stock after selling 2,121 shares during the quarter. Trane Technologies accounts for 1.3% of KCM Investment Advisors LLC’s holdings, making the stock its 24th biggest position. KCM Investment Advisors LLC’s holdings in Trane Technologies were worth $39,415,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of TT. Tucker Asset Management LLC acquired a new position in shares of Trane Technologies in the 4th quarter valued at $25,000. Wilkerson Advisory Group LLC raised its stake in Trane Technologies by 136.0% during the 1st quarter. Wilkerson Advisory Group LLC now owns 59 shares of the company’s stock worth $25,000 after buying an additional 34 shares during the period. JPL Wealth Management LLC bought a new position in Trane Technologies during the third quarter worth about $32,000. Hilton Head Capital Partners LLC bought a new position in Trane Technologies during the fourth quarter worth about $32,000. Finally, Physician Wealth Advisors Inc. grew its stake in Trane Technologies by 192.6% in the first quarter. Physician Wealth Advisors Inc. now owns 79 shares of the company’s stock valued at $33,000 after acquiring an additional 52 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Trane Technologies

In other news, insider Donald E. Simmons sold 4,593 shares of the firm’s stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $500.00, for a total transaction of $2,296,500.00. Following the completion of the transaction, the insider directly owned 3,819 shares of the company’s stock, valued at $1,909,500. This trade represents a 54.60% decrease in their position. The sale 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.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on TT shares. Weiss Ratings restated a “buy (b)” rating on shares of Trane Technologies in a report on Friday, July 17th. Royal Bank Of Canada lifted their price objective on Trane Technologies from $440.00 to $501.00 and gave the company a “sector perform” rating in a report on Friday, May 1st. BNP Paribas Exane initiated 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. 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, Sanford C. Bernstein set a $555.00 price target on shares of Trane Technologies in a research note on Thursday, July 9th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $516.67.

Trane Technologies Stock Performance

TT opened at $483.20 on Tuesday. The company has a market capitalization of $106.81 billion, a price-to-earnings ratio of 37.37, a P/E/G ratio of 2.21 and a beta of 1.19. The business’s 50-day moving average price is $470.58 and its two-hundred day moving average price is $451.01. Trane Technologies plc has a 1 year low of $348.06 and a 1 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.

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

Trane Technologies Announces Dividend

The company 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 dividend of $1.05 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $4.20 dividend on an annualized basis and a yield of 0.9%. Trane Technologies’s dividend payout ratio is 32.48%.

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.