Mattern Capital Management LLC Takes Position in Trane Technologies plc $TT

Mattern Capital Management LLC purchased a new position in shares of Trane Technologies plc (NYSE:TT) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 23,635 shares of the company’s stock, valued at approximately $9,850,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TT. Tucker Asset Management LLC bought a new stake in Trane Technologies in the fourth quarter worth about $25,000. JPL Wealth Management LLC purchased a new stake in shares of Trane Technologies in the third quarter worth approximately $32,000. Physician Wealth Advisors Inc. lifted its stake in shares of Trane Technologies by 192.6% during the 1st quarter. Physician Wealth Advisors Inc. now owns 79 shares of the company’s stock worth $33,000 after acquiring an additional 52 shares during the last quarter. Hilton Head Capital Partners LLC purchased a new position in Trane Technologies during the 4th quarter valued at $32,000. Finally, Kemnay Advisory Services Inc. purchased a new position in Trane Technologies during the 4th quarter valued at $34,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TT has been the topic of a number of recent analyst reports. Sanford C. Bernstein set a $555.00 target price on Trane Technologies in a research note on Thursday. BNP Paribas Exane assumed coverage on shares of Trane Technologies in a report on Tuesday, April 14th. They issued an “outperform” rating and a $550.00 price target on the stock. Barclays raised their price target on shares of Trane Technologies from $507.00 to $585.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Citigroup boosted their price objective on shares of Trane Technologies from $525.00 to $570.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Finally, Royal Bank Of Canada upped their target price on shares of Trane Technologies from $440.00 to $501.00 and gave the stock a “sector perform” rating in a research note on Friday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $512.50.

Trane Technologies Stock Down 0.0%

NYSE:TT opened at $479.67 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. Trane Technologies plc has a 1-year low of $348.06 and a 1-year high of $505.87. The company has a 50-day moving average of $469.76 and a 200 day moving average of $444.99. The firm has a market cap of $106.03 billion, a PE ratio of 37.10, a price-to-earnings-growth ratio of 2.21 and a beta of 1.19.

Trane Technologies (NYSE:TT) last posted its earnings results on Friday, May 1st. The company reported $2.63 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.10. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The business had revenue of $4.97 billion for the quarter, compared to the consensus estimate of $4.81 billion. During the same quarter last year, the firm posted $2.45 EPS. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. As a group, research analysts anticipate that Trane Technologies plc will post 14.9 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 4th will be issued 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 presently 32.48%.

Insider Buying and Selling

In related news, insider Donald E. Simmons sold 4,593 shares of the business’s stock in a transaction that occurred on Thursday, April 30th. The shares were 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 of the company’s stock, valued at $1,909,500. The trade was a 54.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is owned by company insiders.

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.