Gitterman Wealth Management LLC Takes Position in Trane Technologies plc (NYSE:TT)

Gitterman Wealth Management LLC acquired a new position in Trane Technologies plc (NYSE:TT) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 853 shares of the company’s stock, valued at approximately $208,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TT. International Assets Investment Management LLC boosted its holdings in shares of Trane Technologies by 24,670.7% during the fourth quarter. International Assets Investment Management LLC now owns 1,034,423 shares of the company’s stock worth $252,296,000 after purchasing an additional 1,030,247 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Trane Technologies by 5.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 17,085,662 shares of the company’s stock valued at $3,466,852,000 after buying an additional 880,583 shares during the period. FMR LLC increased its stake in shares of Trane Technologies by 12.4% in the third quarter. FMR LLC now owns 5,743,154 shares of the company’s stock worth $1,165,343,000 after acquiring an additional 632,598 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Trane Technologies by 36.4% during the third quarter. Wellington Management Group LLP now owns 1,639,058 shares of the company’s stock worth $332,581,000 after acquiring an additional 436,997 shares in the last quarter. Finally, Alphinity Investment Management Pty Ltd boosted its position in Trane Technologies by 31.4% during the third quarter. Alphinity Investment Management Pty Ltd now owns 1,812,549 shares of the company’s stock valued at $367,784,000 after purchasing an additional 433,388 shares during the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on TT. Royal Bank of Canada increased their price target on shares of Trane Technologies from $231.00 to $246.00 and gave the stock a “sector perform” rating in a research note on Friday, February 2nd. Citigroup lifted their target price on shares of Trane Technologies from $309.00 to $355.00 and gave the stock a “buy” rating in a report on Monday, April 8th. The Goldman Sachs Group boosted their price objective on Trane Technologies from $253.00 to $287.00 and gave the stock a “neutral” rating in a research report on Monday, February 5th. Barclays lifted their price target on Trane Technologies from $286.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Finally, Stephens raised their price objective on shares of Trane Technologies from $235.00 to $280.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 6th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Trane Technologies currently has a consensus rating of “Hold” and an average target price of $251.83.

Trane Technologies Price Performance

TT traded up $5.16 during trading on Friday, hitting $304.53. The company’s stock had a trading volume of 961,790 shares, compared to its average volume of 833,800. The company has a quick ratio of 0.78, a current ratio of 1.13 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $69.15 billion, a price-to-earnings ratio of 34.65, a price-to-earnings-growth ratio of 2.57 and a beta of 1.05. The firm’s 50 day moving average price is $292.22 and its two-hundred day moving average price is $254.57. Trane Technologies plc has a 12 month low of $162.04 and a 12 month high of $306.98.

Trane Technologies (NYSE:TT) last announced its earnings results on Thursday, February 1st. The company reported $2.17 earnings per share for the quarter, topping analysts’ consensus estimates of $2.13 by $0.04. Trane Technologies had a net margin of 11.45% and a return on equity of 32.01%. The company had revenue of $4.42 billion during the quarter, compared to the consensus estimate of $4.43 billion. During the same period in the previous year, the firm posted $1.82 earnings per share. The company’s revenue was up 8.6% on a year-over-year basis. Sell-side analysts forecast that Trane Technologies plc will post 10.2 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be given a dividend of $0.84 per share. The ex-dividend date is Thursday, June 6th. This represents a $3.36 dividend on an annualized basis and a yield of 1.10%. Trane Technologies’s payout ratio is presently 38.23%.

Insider Activity

In other Trane Technologies news, SVP Keith A. Sultana sold 1,637 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $267.74, for a total value of $438,290.38. Following the transaction, the senior vice president now directly owns 42,374 shares of the company’s stock, valued at $11,345,214.76. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CFO Christopher J. Kuehn sold 2,767 shares of the stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $268.31, for a total value of $742,413.77. Following the sale, the chief financial officer now directly owns 54,788 shares in the company, valued at approximately $14,700,168.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Keith A. Sultana sold 1,637 shares of Trane Technologies stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $267.74, for a total transaction of $438,290.38. Following the transaction, the senior vice president now directly owns 42,374 shares in the company, valued at approximately $11,345,214.76. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,874 shares of company stock valued at $8,462,825. 0.39% of the stock is currently owned by insiders.

Trane Technologies Company Profile

Trane Technologies plc, together with its subsidiaries, designs, manufactures, sells, and services of solutions for heating, ventilation, air conditioning, custom, and custom and transport refrigeration in Ireland and internationally. It offers air conditioners, exchangers, and handlers; airside and terminal devices; air sourced heat pumps, auxiliary power units; chillers; coils and condensers; gensets; dehumidifiers; ductless; furnaces; home automation products; humidifiers; indoor air quality assessments and related products; large and light commercial unitary products; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.