Stance Capital LLC Makes New Investment in Trane Technologies plc $TT

Stance Capital LLC acquired a new stake in Trane Technologies plc (NYSE:TT) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 6,634 shares of the company’s stock, valued at approximately $2,582,000.

Several other institutional investors have also modified their holdings of TT. Norges Bank acquired a new stake in Trane Technologies during the 4th quarter worth $1,163,124,000. Capital International Investors acquired a new position in Trane Technologies in the fourth quarter valued at $324,639,000. Corient Private Wealth LLC grew its holdings in shares of Trane Technologies by 135.4% during the second quarter. Corient Private Wealth LLC now owns 735,589 shares of the company’s stock worth $321,757,000 after purchasing an additional 423,090 shares during the last quarter. SG Americas Securities LLC increased its position in shares of Trane Technologies by 13,460.8% during the fourth quarter. SG Americas Securities LLC now owns 423,504 shares of the company’s stock worth $164,828,000 after purchasing an additional 420,381 shares in the last quarter. Finally, Capital Research Global Investors purchased a new stake in shares of Trane Technologies in the 4th quarter valued at about $132,124,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on TT. 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 price target on the stock. Evercore assumed coverage on shares of Trane Technologies in a report on Monday, April 13th. They issued an “outperform” rating and a $535.00 target price for the company. Citigroup increased their target price on shares of Trane Technologies from $525.00 to $570.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. Barclays raised their price target on Trane Technologies from $507.00 to $585.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Finally, Royal Bank Of Canada upped their price objective on Trane Technologies from $440.00 to $501.00 and gave the company a “sector perform” rating in a research note on Friday, May 1st. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $509.12.

Insider Activity at Trane Technologies

In other Trane Technologies news, insider Donald E. Simmons sold 4,593 shares of the firm’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $500.00, for a total value of $2,296,500.00. Following the completion of the sale, the insider owned 3,819 shares of the company’s stock, valued at approximately $1,909,500. This trade represents a 54.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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 business’s stock in a transaction 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 in the company, valued at $27,259,200. The trade was a 12.46% 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 company insiders.

Trane Technologies Stock Up 0.1%

TT stock opened at $483.88 on Friday. The stock has a market capitalization of $106.96 billion, a PE ratio of 37.42, a price-to-earnings-growth ratio of 2.23 and a beta of 1.20. The company has a fifty day moving average of $467.88 and a 200-day moving average of $435.22. 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 plc has a one year low of $348.06 and a one year high of $503.47.

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

Trane Technologies Dividend Announcement

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