Siemens Fonds Invest GmbH Buys 1,074 Shares of Trane Technologies plc $TT

Siemens Fonds Invest GmbH raised its stake in Trane Technologies plc (NYSE:TT) by 11.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,761 shares of the company’s stock after purchasing an additional 1,074 shares during the period. Siemens Fonds Invest GmbH’s holdings in Trane Technologies were worth $4,215,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. ExodusPoint Capital Management LP bought a new stake in shares of Trane Technologies during the fourth quarter worth approximately $9,715,000. Howe & Rusling Inc. increased its stake in shares of Trane Technologies by 14.5% during the fourth quarter. Howe & Rusling Inc. now owns 1,349 shares of the company’s stock worth $525,000 after purchasing an additional 171 shares during the period. Delta Global Management LP acquired a new stake in Trane Technologies during the 4th quarter worth approximately $2,283,000. 71 West Capital Partners bought a new stake in Trane Technologies in the 4th quarter valued at $511,000. Finally, University of Texas Texas AM Investment Management Co. bought a new stake in Trane Technologies in the 4th quarter valued at $804,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Stock Performance

TT opened at $476.26 on Wednesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.10. Trane Technologies plc has a 52-week low of $348.06 and a 52-week high of $503.47. The firm has a market cap of $105.28 billion, a P/E ratio of 36.83, a price-to-earnings-growth ratio of 2.18 and a beta of 1.20. The business’s fifty day moving average is $465.32 and its 200-day moving average is $434.07.

Trane Technologies (NYSE:TT) last posted its quarterly 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 return on equity of 35.55% and a net margin of 13.41%.The business had revenue of $4.97 billion during the quarter, compared to the consensus estimate of $4.81 billion. During the same quarter in the previous year, the firm earned $2.45 earnings per share. Trane Technologies’s revenue for the quarter was up 6.0% compared to the same quarter last year. Sell-side analysts expect that Trane Technologies plc will post 14.88 EPS for the current fiscal year.

Trane Technologies Announces Dividend

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

Insider Buying and Selling

In related news, CFO Christopher J. Kuehn sold 8,619 shares of Trane Technologies 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 directly owned 60,576 shares of the company’s stock, valued at $27,259,200. This trade represents a 12.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available 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 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 sale, 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 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.

Analysts Set New Price Targets

TT has been the topic of several recent research reports. JPMorgan Chase & Co. increased their price objective on Trane Technologies from $460.00 to $476.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Weiss Ratings reissued a “buy (b)” rating on shares of Trane Technologies in a research report on Monday, April 20th. Evercore began coverage on shares of Trane Technologies in a research note on Monday, April 13th. They issued an “outperform” rating and a $535.00 price target on the stock. Sanford C. Bernstein initiated coverage on shares of Trane Technologies in a research report on Tuesday, June 9th. They set an “outperform” rating and a $550.00 price target on the stock. Finally, Barclays boosted their price objective on shares of Trane Technologies from $507.00 to $585.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $509.12.

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.