OLD National Bancorp IN Grows Stock Position in Trane Technologies plc $TT

OLD National Bancorp IN grew its holdings in Trane Technologies plc (NYSE:TT) by 12.6% in the 1st quarter, Holdings Channel.com reports. The fund owned 20,617 shares of the company’s stock after buying an additional 2,315 shares during the period. OLD National Bancorp IN’s holdings in Trane Technologies were worth $8,592,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Cottage Street Advisors LLC acquired a new stake in Trane Technologies in the 1st quarter worth approximately $213,000. Louisiana State Employees Retirement System purchased a new position in shares of Trane Technologies in the first quarter worth $4,709,000. Ritholtz Wealth Management lifted its stake in shares of Trane Technologies by 8.9% during the first quarter. Ritholtz Wealth Management now owns 3,092 shares of the company’s stock worth $1,288,000 after buying an additional 254 shares during the period. Dopkins Wealth Management LLC purchased a new stake in shares of Trane Technologies during the first quarter valued at $202,000. Finally, RFG Advisory LLC increased its position in shares of Trane Technologies by 337.6% in the 1st quarter. RFG Advisory LLC now owns 4,183 shares of the company’s stock valued at $1,743,000 after acquiring an additional 3,227 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Stock Performance

NYSE TT opened at $478.08 on Friday. The stock has a 50-day simple moving average of $469.89 and a two-hundred day simple moving average of $437.98. The firm has a market capitalization of $105.68 billion, a P/E ratio of 36.97, a PEG ratio of 2.32 and a beta of 1.20. Trane Technologies plc has a fifty-two week low of $348.06 and a fifty-two week high of $505.87. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.10.

Trane Technologies (NYSE:TT) last issued its earnings results on Friday, May 1st. The company reported $2.63 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.10. The firm had revenue of $4.97 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.45 earnings per share. On average, equities analysts forecast that Trane Technologies plc will post 14.88 earnings per share for the current 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 issued a $1.05 dividend. 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 payout ratio is presently 32.48%.

Insider Activity at Trane Technologies

In other Trane Technologies news, CFO Christopher J. Kuehn sold 8,619 shares of the company’s stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $450.00, for a total value of $3,878,550.00. Following the sale, the chief financial officer owned 60,576 shares in the company, valued at approximately $27,259,200. This represents a 12.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 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 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 sale, the insider directly owned 3,819 shares in the company, valued at $1,909,500. The trade was a 54.60% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.43% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on TT. Evercore assumed coverage on Trane Technologies in a research note on Monday, April 13th. They issued an “outperform” rating and a $535.00 target price for the company. KeyCorp increased their price objective on Trane Technologies from $525.00 to $555.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Royal Bank Of Canada raised their price objective on Trane Technologies from $440.00 to $501.00 and gave the stock a “sector perform” rating in a research note on Friday, May 1st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Trane Technologies in a report on Monday, April 20th. Finally, Sanford C. Bernstein assumed coverage on Trane Technologies in a research report on Tuesday, June 9th. They issued an “outperform” rating and a $550.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Trane Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $509.12.

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.