Westerkirk Capital Inc. Buys 3,431 Shares of Trane Technologies plc $TT

Westerkirk Capital Inc. lifted its stake in Trane Technologies plc (NYSE:TT) by 94.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,052 shares of the company’s stock after purchasing an additional 3,431 shares during the quarter. Westerkirk Capital Inc.’s holdings in Trane Technologies were worth $2,745,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. BLI Banque de Luxembourg Investments lifted its position in Trane Technologies by 45.9% in the 4th quarter. BLI Banque de Luxembourg Investments now owns 12,400 shares of the company’s stock valued at $4,860,000 after acquiring an additional 3,900 shares in the last quarter. Commonwealth Retirement Investments LLC lifted its position in Trane Technologies by 38.9% in the 4th quarter. Commonwealth Retirement Investments LLC now owns 1,421 shares of the company’s stock valued at $553,000 after acquiring an additional 398 shares in the last quarter. Fox Run Management L.L.C. bought a new position in Trane Technologies in the 4th quarter valued at approximately $432,000. Cerity Partners LLC lifted its position in Trane Technologies by 0.9% in the 4th quarter. Cerity Partners LLC now owns 82,900 shares of the company’s stock valued at $32,265,000 after acquiring an additional 736 shares in the last quarter. Finally, West Family Investments Inc. lifted its position in Trane Technologies by 14.2% in the 4th quarter. West Family Investments Inc. now owns 1,224 shares of the company’s stock valued at $476,000 after acquiring an additional 152 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

Trane Technologies Price Performance

Shares of TT opened at $458.72 on Tuesday. The firm has a market cap of $101.40 billion, a PE ratio of 35.48, a P/E/G ratio of 2.10 and a beta of 1.20. The company has a current ratio of 1.10, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46. The firm has a fifty day simple moving average of $459.88 and a two-hundred day simple moving average of $431.82. Trane Technologies plc has a 1-year low of $348.06 and a 1-year high of $503.47.

Trane Technologies (NYSE:TT) last announced its earnings results on Friday, May 1st. The company reported $2.63 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.10. The business had revenue of $4.97 billion during 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 company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the business earned $2.45 EPS. On average, equities analysts anticipate that Trane Technologies plc will post 14.88 EPS for the current year.

Trane Technologies Dividend Announcement

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

Analysts Set New Price Targets

Several research firms recently issued reports on TT. Citigroup upped their price objective on Trane Technologies from $525.00 to $570.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Barclays upped their price objective on Trane Technologies from $507.00 to $585.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Evercore began coverage on Trane Technologies in a research report on Monday, April 13th. They issued an “outperform” rating and a $535.00 price objective on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Trane Technologies in a research report on Monday, April 20th. Finally, BNP Paribas Exane began coverage on Trane Technologies in a research report on Tuesday, April 14th. They issued an “outperform” rating and a $550.00 price objective on the stock. One research 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 given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $506.56.

Insider Buying and Selling at Trane Technologies

In other news, CFO Christopher J. Kuehn sold 8,619 shares of the company’s stock in a transaction on Wednesday, April 8th. The stock was 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 in the company, valued at $27,259,200. This represents a 12.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 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 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 $1,909,500. This trade 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. Corporate insiders own 0.43% of the company’s stock.

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.