Kathmere Capital Management LLC Buys 1,549 Shares of Trane Technologies plc $TT

Kathmere Capital Management LLC grew its stake in Trane Technologies plc (NYSE:TT) by 149.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,586 shares of the company’s stock after purchasing an additional 1,549 shares during the quarter. Kathmere Capital Management LLC’s holdings in Trane Technologies were worth $1,078,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Brighton Jones LLC lifted its position in Trane Technologies by 60.0% during the fourth quarter. Brighton Jones LLC now owns 6,194 shares of the company’s stock worth $2,288,000 after acquiring an additional 2,323 shares during the last quarter. Sivia Capital Partners LLC grew its position in shares of Trane Technologies by 22.4% in the second quarter. Sivia Capital Partners LLC now owns 1,665 shares of the company’s stock valued at $728,000 after purchasing an additional 305 shares during the last quarter. Schnieders Capital Management LLC. bought a new position in shares of Trane Technologies during the second quarter worth approximately $227,000. Nebula Research & Development LLC lifted its holdings in Trane Technologies by 178.0% during the 2nd quarter. Nebula Research & Development LLC now owns 2,371 shares of the company’s stock worth $1,037,000 after purchasing an additional 1,518 shares during the last quarter. Finally, Treasurer of the State of North Carolina boosted its stake in Trane Technologies by 0.5% in the 2nd quarter. Treasurer of the State of North Carolina now owns 104,140 shares of the company’s stock valued at $45,552,000 after purchasing an additional 497 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Transactions at Trane Technologies

In other news, CFO Christopher J. Kuehn sold 8,619 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer owned 60,576 shares in the company, valued at approximately $27,259,200. The trade was a 12.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $500.00, for a total transaction of $2,296,500.00. Following 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.43% of the company’s stock.

Trane Technologies Price Performance

TT traded down $18.80 on Tuesday, reaching $468.44. The stock had a trading volume of 161,176 shares, compared to its average volume of 1,486,254. The firm has a 50-day moving average of $470.69 and a 200-day moving average of $441.25. 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 market capitalization of $103.55 billion, a price-to-earnings ratio of 36.13, a price-to-earnings-growth ratio of 2.20 and a beta of 1.19. The company has a current ratio of 1.10, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Friday, May 1st. The company reported $2.63 earnings per share 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 analysts’ expectations of $4.81 billion. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The business’s quarterly 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, sell-side analysts anticipate that Trane Technologies plc will post 14.9 EPS for the current year.

Trane Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 4th will be given a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a 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%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on TT shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Trane Technologies in a report on Monday, April 20th. Sanford C. Bernstein started coverage on shares of Trane Technologies in a research note on Tuesday, June 9th. They issued an “outperform” rating and a $550.00 price target on the stock. Evercore initiated coverage on shares of Trane Technologies in a report on Monday, April 13th. They issued an “outperform” rating and a $535.00 price objective for the company. KeyCorp boosted their target price on shares of Trane Technologies from $525.00 to $555.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Finally, BNP Paribas Exane began coverage on Trane Technologies in a report on Tuesday, April 14th. They set an “outperform” rating and a $550.00 price target for the company. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Trane Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $509.12.

Trane Technologies 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.