Cercano Management LLC Makes New Investment in Trane Technologies plc $TT

Cercano Management LLC bought a new stake in Trane Technologies plc (NYSE:TT) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 1,517 shares of the company’s stock, valued at approximately $590,000.

Several other hedge funds have also added to or reduced their stakes in TT. Bridgewater Advisors Inc. boosted its holdings in Trane Technologies by 3.7% during the third quarter. Bridgewater Advisors Inc. now owns 670 shares of the company’s stock worth $285,000 after buying an additional 24 shares during the last quarter. West Family Investments Inc. lifted its holdings in shares of Trane Technologies by 2.3% during the 3rd quarter. West Family Investments Inc. now owns 1,072 shares of the company’s stock valued at $452,000 after purchasing an additional 24 shares in the last quarter. Cresset Asset Management LLC lifted its holdings in shares of Trane Technologies by 0.3% during the 3rd quarter. Cresset Asset Management LLC now owns 7,012 shares of the company’s stock valued at $2,959,000 after purchasing an additional 24 shares in the last quarter. Bryn Mawr Trust Advisors LLC lifted its holdings in shares of Trane Technologies by 1.2% during the 4th quarter. Bryn Mawr Trust Advisors LLC now owns 2,112 shares of the company’s stock valued at $822,000 after purchasing an additional 25 shares in the last quarter. Finally, HCR Wealth Advisors lifted its holdings in shares of Trane Technologies by 3.7% during the 4th quarter. HCR Wealth Advisors now owns 721 shares of the company’s stock valued at $281,000 after purchasing an additional 26 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Performance

Shares of NYSE TT opened at $448.60 on Tuesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.10 and a quick ratio of 0.77. The stock’s fifty day moving average price is $455.94 and its two-hundred day moving average price is $430.21. Trane Technologies plc has a one year low of $348.06 and a one year high of $503.47. The firm has a market cap of $99.17 billion, a price-to-earnings ratio of 34.69, a P/E/G ratio of 2.08 and a beta of 1.25.

Trane Technologies (NYSE:TT) last released its 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 company had revenue of $4.97 billion for the quarter, compared to analyst estimates of $4.81 billion. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.Trane Technologies’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the firm posted $2.45 EPS. On average, equities analysts forecast that Trane Technologies plc will post 14.88 EPS for the current year.

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, June 5th will be given a $1.05 dividend. The ex-dividend date is Friday, June 5th. This represents a $4.20 annualized dividend and a yield of 0.9%. Trane Technologies’s dividend payout ratio (DPR) is currently 32.48%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on TT shares. Evercore started coverage on Trane Technologies in a research note on Monday, April 13th. They issued an “outperform” rating and a $535.00 target price on the stock. KeyCorp boosted their target price on Trane Technologies from $525.00 to $555.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. JPMorgan Chase & Co. boosted their target price on Trane Technologies from $460.00 to $476.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. Citigroup boosted their price target on Trane Technologies from $525.00 to $570.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Finally, BNP Paribas Exane assumed coverage on Trane Technologies in a research report on Tuesday, April 14th. They set an “outperform” rating and a $550.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $506.56.

Insider Transactions at Trane Technologies

In other Trane Technologies news, CEO David S. Regnery sold 36,045 shares of the stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $422.69, for a total value of $15,235,861.05. Following the completion of the transaction, the chief executive officer directly owned 96,948 shares in the company, valued at approximately $40,978,950.12. This trade represents a 27.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Christopher J. Kuehn sold 8,619 shares of the stock in a transaction dated 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 transaction, the chief financial officer owned 60,576 shares of the company’s stock, valued at $27,259,200. This represents a 12.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 53,654 shares of company stock valued at $23,269,523 over the last three months. Company insiders own 0.14% of the company’s stock.

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.