Prairie Wealth Advisors Inc. Makes New $219,000 Investment in Trane Technologies plc $TT

Prairie Wealth Advisors Inc. bought a new position in shares of Trane Technologies plc (NYSE:TT) in the second quarter, HoldingsChannel.com reports. The institutional investor bought 500 shares of the company’s stock, valued at approximately $219,000.

Other large investors have also recently added to or reduced their stakes in the company. Ameriflex Group Inc. bought a new position in Trane Technologies during the 2nd quarter worth about $28,000. Hantz Financial Services Inc. increased its stake in Trane Technologies by 1,016.7% in the 2nd quarter. Hantz Financial Services Inc. now owns 67 shares of the company’s stock valued at $29,000 after buying an additional 61 shares during the last quarter. Saudi Central Bank acquired a new stake in Trane Technologies in the 1st quarter valued at $30,000. Bogart Wealth LLC increased its stake in Trane Technologies by 97.9% in the 1st quarter. Bogart Wealth LLC now owns 93 shares of the company’s stock valued at $31,000 after buying an additional 46 shares during the last quarter. Finally, Olde Wealth Management LLC acquired a new stake in Trane Technologies in the 1st quarter valued at $37,000. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Up 0.1%

Shares of TT opened at $426.66 on Thursday. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $476.18. The firm has a market cap of $94.94 billion, a P/E ratio of 33.84, a price-to-earnings-growth ratio of 2.65 and a beta of 1.12. The firm’s 50-day simple moving average is $416.34 and its 200 day simple moving average is $417.50. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.10.

Trane Technologies (NYSE:TT) last announced its earnings results on Wednesday, July 30th. The company reported $3.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.79 by $0.09. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. The firm had revenue of $5.75 billion for the quarter, compared to analyst estimates of $5.77 billion. During the same quarter in the prior year, the business posted $3.30 EPS. The business’s revenue was up 7.6% compared to the same quarter last year. On average, analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Friday, December 5th will be given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, December 5th. Trane Technologies’s dividend payout ratio is presently 29.82%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on TT shares. HSBC lowered shares of Trane Technologies from a “buy” rating to a “hold” rating and lifted their price target for the company from $415.00 to $460.00 in a research note on Thursday, July 31st. Wells Fargo & Company boosted their price objective on shares of Trane Technologies from $410.00 to $415.00 and gave the stock an “underweight” rating in a research note on Monday, October 6th. Weiss Ratings restated a “buy (b)” rating on shares of Trane Technologies in a research note on Wednesday, October 8th. Morgan Stanley boosted their price objective on shares of Trane Technologies from $445.00 to $520.00 and gave the stock an “overweight” rating in a research note on Thursday, July 31st. Finally, Hsbc Global Res lowered shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 31st. Six research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $464.29.

Insider Activity

In other Trane Technologies news, CEO David S. Regnery sold 22,497 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $410.00, for a total transaction of $9,223,770.00. Following the transaction, the chief executive officer owned 123,713 shares in the company, valued at $50,722,330. This represents a 15.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.14% of the stock is currently owned by insiders.

Trane Technologies 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.