RFG Advisory LLC Boosts Stake in Trane Technologies plc $TT

RFG Advisory LLC lifted its position in Trane Technologies plc (NYSE:TT) by 337.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,183 shares of the company’s stock after purchasing an additional 3,227 shares during the quarter. RFG Advisory LLC’s holdings in Trane Technologies were worth $1,743,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in TT. Tucker Asset Management LLC acquired a new stake in shares of Trane Technologies in the fourth quarter valued at approximately $25,000. Hilton Head Capital Partners LLC acquired a new position in shares of Trane Technologies in the 4th quarter valued at $32,000. JPL Wealth Management LLC acquired a new position in shares of Trane Technologies in the 3rd quarter valued at $32,000. Kemnay Advisory Services Inc. purchased a new stake in Trane Technologies in the 4th quarter valued at $34,000. Finally, Creative Financial Designs Inc. ADV boosted its stake in 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 purchasing an additional 49 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Down 5.0%

Shares of NYSE:TT opened at $478.08 on Friday. 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 quick ratio of 0.77, a current ratio of 1.10 and a debt-to-equity ratio of 0.46. The firm’s 50-day simple moving average is $469.89 and its 200-day simple moving average is $437.98. The company has a market cap of $105.68 billion, a price-to-earnings ratio of 36.97, a PEG ratio of 2.32 and a beta of 1.20.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Friday, May 1st. The company reported $2.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.10. The firm had revenue of $4.97 billion during the quarter, compared to analysts’ expectations of $4.81 billion. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the prior year, the company posted $2.45 earnings per share. As a group, equities research analysts predict 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. 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%.

Insider Activity at Trane Technologies

In other Trane Technologies news, insider Donald E. Simmons sold 4,593 shares of the 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 transaction, the insider owned 3,819 shares in the company, valued at approximately $1,909,500. This represents a 54.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 on Wednesday, April 8th. The shares were sold at an average price of $450.00, for a total value 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 approximately $27,259,200. This trade represents a 12.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have issued reports on TT. Royal Bank Of Canada raised their price objective on shares of Trane Technologies from $440.00 to $501.00 and gave the stock a “sector perform” rating in a research report on Friday, May 1st. BNP Paribas Exane began coverage on shares of Trane Technologies in a research note on Tuesday, April 14th. They set an “outperform” rating and a $550.00 target price for the company. 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. Evercore started coverage on Trane Technologies in a research note on Monday, April 13th. They set an “outperform” rating and a $535.00 price objective for the company. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Trane Technologies in a research report on Monday, April 20th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $509.12.

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.