Saranac Partners Ltd Purchases Shares of 12,490 Trane Technologies plc $TT

Saranac Partners Ltd purchased a new stake in shares of Trane Technologies plc (NYSE:TT) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 12,490 shares of the company’s stock, valued at approximately $5,254,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in TT. Old Port Advisors increased its position in Trane Technologies by 3.2% in the 3rd quarter. Old Port Advisors now owns 778 shares of the company’s stock valued at $328,000 after acquiring an additional 24 shares during the period. OneAscent Wealth Management LLC raised its stake in Trane Technologies by 1.5% during the 3rd quarter. OneAscent Wealth Management LLC now owns 1,627 shares of the company’s stock valued at $686,000 after acquiring an additional 24 shares in the last quarter. Bridgewater Advisors Inc. boosted its position in Trane Technologies by 3.7% during the 3rd quarter. Bridgewater Advisors Inc. now owns 670 shares of the company’s stock worth $285,000 after acquiring an additional 24 shares during the period. West Family Investments Inc. grew its stake in shares of Trane Technologies by 2.3% in the third quarter. West Family Investments Inc. now owns 1,072 shares of the company’s stock worth $452,000 after purchasing an additional 24 shares in the last quarter. Finally, Cresset Asset Management LLC grew its stake in shares of Trane Technologies by 0.3% in the third quarter. Cresset Asset Management LLC now owns 7,012 shares of the company’s stock worth $2,959,000 after purchasing an additional 24 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

Insider Buying and Selling at Trane Technologies

In other news, CEO David S. Regnery sold 36,045 shares of the stock in a transaction on Friday, March 6th. The stock was sold at an average price of $422.69, for a total transaction of $15,235,861.05. Following the completion of the sale, the chief executive officer owned 96,948 shares in the company, valued at approximately $40,978,950.12. This represents a 27.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Donald E. Simmons sold 3,762 shares of the firm’s stock in a transaction on Friday, March 6th. The stock was sold at an average price of $422.70, for a total value of $1,590,197.40. Following the sale, the insider directly owned 3,819 shares of the company’s stock, valued at approximately $1,614,291.30. This represents a 49.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 49,378 shares of company stock valued at $21,228,464. 0.14% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on TT shares. Citigroup lifted their price objective on shares of Trane Technologies from $513.00 to $525.00 and gave the company a “buy” rating in a research note on Friday, January 30th. JPMorgan Chase & Co. raised their target price on shares of Trane Technologies from $434.00 to $460.00 and gave the company a “neutral” rating in a research note on Friday, January 30th. Oppenheimer boosted their price target on shares of Trane Technologies from $460.00 to $468.00 and gave the stock an “outperform” rating in a research report on Friday, January 30th. KeyCorp raised shares of Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 price target for the company in a research note on Monday, December 15th. Finally, Melius Research upgraded shares of Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 price objective on the stock in a research note on Wednesday, January 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Trane Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $484.67.

Trane Technologies Price Performance

NYSE:TT opened at $426.66 on Thursday. The company has a quick ratio of 0.92, a current ratio of 1.25 and a debt-to-equity ratio of 0.46. The business’s 50-day moving average price is $428.78 and its 200 day moving average price is $417.24. Trane Technologies plc has a 52-week low of $298.15 and a 52-week high of $479.37. The firm has a market cap of $94.43 billion, a P/E ratio of 32.87, a PEG ratio of 2.24 and a beta of 1.19.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Thursday, January 29th. The company reported $2.86 earnings per share for the quarter, beating analysts’ consensus estimates of $2.81 by $0.05. Trane Technologies had a net margin of 13.69% and a return on equity of 36.34%. The company had revenue of $5.14 billion during the quarter, compared to the consensus estimate of $5.09 billion. During the same period in the prior year, the company earned $2.61 EPS. Trane Technologies’s revenue was up 5.6% on a year-over-year basis. As a group, sell-side analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 6th will be paid a dividend of $1.05 per share. This is a boost from Trane Technologies’s previous quarterly dividend of $0.94. This represents a $4.20 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, March 6th. Trane Technologies’s dividend payout ratio (DPR) is currently 32.36%.

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.