Trane Technologies plc $TT Position Raised by Turtle Creek Wealth Advisors LLC

Turtle Creek Wealth Advisors LLC lifted its position in shares of Trane Technologies plc (NYSE:TT) by 24.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 23,252 shares of the company’s stock after acquiring an additional 4,639 shares during the period. Turtle Creek Wealth Advisors LLC’s holdings in Trane Technologies were worth $9,690,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Tucker Asset Management LLC bought a new position in Trane Technologies in the 4th quarter worth about $25,000. JPL Wealth Management LLC bought a new stake in shares of Trane Technologies during the third quarter valued at approximately $32,000. Physician Wealth Advisors Inc. boosted its position in shares of Trane Technologies by 192.6% during the first quarter. Physician Wealth Advisors Inc. now owns 79 shares of the company’s stock worth $33,000 after buying an additional 52 shares during the period. Hilton Head Capital Partners LLC acquired a new position in shares of Trane Technologies during the fourth quarter worth approximately $32,000. Finally, Kemnay Advisory Services Inc. bought a new position in Trane Technologies in the 4th quarter worth approximately $34,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Activity

In related news, insider Donald E. Simmons sold 4,593 shares of the 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 sale, the insider directly owned 3,819 shares of the company’s stock, valued at $1,909,500. This represents a 54.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 that occurred on 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 sale, the chief financial officer owned 60,576 shares of the company’s stock, valued at $27,259,200. The trade was a 12.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on TT shares. Sanford C. Bernstein initiated coverage on Trane Technologies in a research note on Tuesday, June 9th. They set an “outperform” rating and a $550.00 target price on the stock. Evercore started coverage on Trane Technologies in a research note on Monday, April 13th. They issued an “outperform” rating and a $535.00 price target for the company. Weiss Ratings restated a “buy (b)” rating on shares of Trane Technologies in a research note on Monday, April 20th. Citigroup increased their target price on shares of Trane Technologies from $525.00 to $570.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Finally, JPMorgan Chase & Co. raised their target price on shares of Trane Technologies from $460.00 to $476.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. Two equities 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 issued a Sell rating to the company’s stock. According to data from MarketBeat, Trane Technologies has an average rating of “Moderate Buy” and an average price target of $509.12.

Trane Technologies Stock Performance

Shares of NYSE TT opened at $477.76 on Friday. Trane Technologies plc has a 1 year low of $348.06 and a 1 year high of $505.87. The firm has a market cap of $105.61 billion, a P/E ratio of 36.95, a PEG ratio of 2.23 and a beta of 1.19. The stock has a fifty day moving average price of $470.69 and a two-hundred day moving average price of $440.67. 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 posted its quarterly earnings data on Friday, May 1st. The company reported $2.63 EPS 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 company had revenue of $4.97 billion for the quarter, compared to the consensus estimate of $4.81 billion. During the same quarter in the previous year, the business earned $2.45 EPS. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. Research analysts forecast that Trane Technologies plc will post 14.9 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

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

About Trane Technologies

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.