Peterson Wealth Services Makes New Investment in Trane Technologies plc (NYSE:TT)

Peterson Wealth Services purchased a new position in shares of Trane Technologies plc (NYSE:TT) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,605 shares of the company’s stock, valued at approximately $391,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Keel Point LLC increased its holdings in shares of Trane Technologies by 3.0% in the fourth quarter. Keel Point LLC now owns 1,326 shares of the company’s stock valued at $323,000 after purchasing an additional 39 shares in the last quarter. Rosenberg Matthew Hamilton boosted its stake in Trane Technologies by 27.2% in the fourth quarter. Rosenberg Matthew Hamilton now owns 192 shares of the company’s stock valued at $47,000 after acquiring an additional 41 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake in Trane Technologies by 2.3% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,847 shares of the company’s stock valued at $450,000 after acquiring an additional 42 shares during the last quarter. Cedrus LLC boosted its stake in Trane Technologies by 2.6% in the fourth quarter. Cedrus LLC now owns 1,669 shares of the company’s stock valued at $407,000 after acquiring an additional 43 shares during the last quarter. Finally, Certuity LLC boosted its stake in Trane Technologies by 3.1% in the third quarter. Certuity LLC now owns 1,549 shares of the company’s stock valued at $314,000 after acquiring an additional 46 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Insider Transactions at Trane Technologies

In other news, SVP Keith A. Sultana sold 1,983 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $272.26, for a total transaction of $539,891.58. Following the transaction, the senior vice president now directly owns 42,575 shares in the company, valued at approximately $11,591,469.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Paul A. Camuti sold 508 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $273.34, for a total value of $138,856.72. Following the transaction, the executive vice president now owns 89,447 shares in the company, valued at approximately $24,449,442.98. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Keith A. Sultana sold 1,983 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $272.26, for a total transaction of $539,891.58. Following the completion of the transaction, the senior vice president now owns 42,575 shares in the company, valued at approximately $11,591,469.50. The disclosure for this sale can be found here. Insiders have sold 29,874 shares of company stock worth $8,462,825 in the last ninety days. Insiders own 0.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on TT shares. Citigroup raised their price objective on shares of Trane Technologies from $309.00 to $355.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Royal Bank of Canada lifted their price target on shares of Trane Technologies from $231.00 to $246.00 and gave the stock a “sector perform” rating in a research report on Friday, February 2nd. Stephens lifted their price target on shares of Trane Technologies from $235.00 to $280.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 6th. The Goldman Sachs Group lifted their price target on shares of Trane Technologies from $253.00 to $287.00 and gave the stock a “neutral” rating in a research report on Monday, February 5th. Finally, Barclays lifted their price target on shares of Trane Technologies from $286.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $251.83.

Trane Technologies Stock Up 0.6 %

TT stock traded up $1.62 during midday trading on Thursday, hitting $294.71. The company’s stock had a trading volume of 116,523 shares, compared to its average volume of 989,893. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.13 and a quick ratio of 0.78. Trane Technologies plc has a twelve month low of $162.04 and a twelve month high of $306.98. The company’s fifty day moving average price is $289.02 and its 200 day moving average price is $250.01. The stock has a market capitalization of $66.92 billion, a P/E ratio of 33.34, a PEG ratio of 2.49 and a beta of 1.05.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Thursday, February 1st. The company reported $2.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.13 by $0.04. The firm had revenue of $4.42 billion for the quarter, compared to analyst estimates of $4.43 billion. Trane Technologies had a net margin of 11.45% and a return on equity of 32.01%. The company’s revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.82 EPS. As a group, equities research analysts predict that Trane Technologies plc will post 10.2 EPS for the current year.

Trane Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be paid a dividend of $0.84 per share. The ex-dividend date is Thursday, June 6th. This represents a $3.36 annualized dividend and a dividend yield of 1.14%. Trane Technologies’s dividend payout ratio is presently 38.23%.

Trane Technologies Company Profile

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.