Peterson Wealth Services Decreases Stake in Trane Technologies plc $TT

Peterson Wealth Services lowered its position in Trane Technologies plc (NYSE:TT) by 43.8% in the fourth quarter, Holdings Channel reports. The fund owned 1,888 shares of the company’s stock after selling 1,472 shares during the period. Peterson Wealth Services’ holdings in Trane Technologies were worth $735,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in TT. Tucker Asset Management LLC purchased a new position in Trane Technologies in the fourth quarter worth approximately $25,000. Hilton Head Capital Partners LLC purchased a new stake in Trane Technologies during the 4th quarter worth about $32,000. JPL Wealth Management LLC purchased a new stake in Trane Technologies during the 3rd quarter worth about $32,000. Creative Financial Designs Inc. ADV raised its position in shares of Trane Technologies by 119.5% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 90 shares of the company’s stock worth $35,000 after acquiring an additional 49 shares in the last quarter. Finally, KERR FINANCIAL PLANNING Corp acquired a new stake in shares of Trane Technologies during the 3rd quarter worth about $42,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TT. KeyCorp raised their target price on Trane Technologies from $525.00 to $555.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Weiss Ratings reissued a “buy (b)” rating on shares of Trane Technologies in a research report on Monday, April 20th. Citigroup boosted their price objective on shares of Trane Technologies from $525.00 to $570.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Sanford C. Bernstein began coverage on shares of Trane Technologies in a research report on Tuesday. They set an “outperform” rating and a $550.00 price objective for the company. Finally, BNP Paribas Exane began coverage on shares of Trane Technologies in a research report on Tuesday, April 14th. They set an “outperform” rating and a $550.00 price objective for the company. 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 company’s stock. According to MarketBeat, Trane Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $509.12.

Trane Technologies Stock Up 2.4%

Trane Technologies stock opened at $459.89 on Friday. Trane Technologies plc has a fifty-two week low of $348.06 and a fifty-two week high of $503.47. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.10. The company has a market capitalization of $101.66 billion, a P/E ratio of 35.57, a PEG ratio of 2.07 and a beta of 1.20. The stock has a 50-day simple moving average of $462.86 and a 200-day simple moving average of $432.97.

Trane Technologies (NYSE:TT) last posted its earnings results on Friday, May 1st. The company reported $2.63 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.10. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The business had revenue of $4.97 billion during the quarter, compared to the consensus estimate of $4.81 billion. During the same period in the previous year, the business earned $2.45 EPS. The business’s quarterly revenue was up 6.0% on a year-over-year basis. Equities research analysts expect that Trane Technologies plc will post 14.88 earnings per share for the current year.

Trane Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 4th will be given a $1.05 dividend. The ex-dividend date is Friday, September 4th. This represents a $4.20 annualized dividend and a yield of 0.9%. Trane Technologies’s dividend payout ratio is 32.48%.

Insider Buying and Selling 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 transaction of $3,878,550.00. Following the completion of the sale, the chief financial officer directly owned 60,576 shares of the company’s stock, valued at $27,259,200. This represents a 12.46% decrease in their position. The transaction was disclosed in a legal filing 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, insider Donald E. Simmons sold 4,593 shares of the company’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 value of $2,296,500.00. Following the sale, the insider directly owned 3,819 shares of the company’s stock, valued at approximately $1,909,500. This represents a 54.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is owned by corporate insiders.

Trane Technologies Company 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.