Rayburn West Financial Services LLC Invests $623,000 in Trane Technologies plc $TT

Rayburn West Financial Services LLC purchased a new position in shares of Trane Technologies plc (NYSE:TT) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,600 shares of the company’s stock, valued at approximately $623,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. United Community Bank lifted its holdings in shares of Trane Technologies by 134.4% during the 3rd quarter. United Community Bank now owns 75 shares of the company’s stock worth $32,000 after acquiring an additional 43 shares during the period. JPL Wealth Management LLC bought a new stake in shares of Trane Technologies during the 3rd quarter worth approximately $32,000. KERR FINANCIAL PLANNING Corp bought a new stake in shares of Trane Technologies during the 3rd quarter worth approximately $42,000. Hantz Financial Services Inc. lifted its holdings in shares of Trane Technologies by 58.2% during the 3rd quarter. Hantz Financial Services Inc. now owns 106 shares of the company’s stock worth $45,000 after acquiring an additional 39 shares during the period. Finally, Key Financial Inc lifted its holdings in shares of Trane Technologies by 833.3% during the 3rd quarter. Key Financial Inc now owns 112 shares of the company’s stock worth $48,000 after acquiring an additional 100 shares during the period. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Price Performance

TT stock opened at $470.52 on Thursday. The company has a fifty day moving average price of $449.02 and a 200-day moving average price of $428.20. The company has a market capitalization of $104.01 billion, a P/E ratio of 36.39, a PEG ratio of 2.16 and a beta of 1.25. Trane Technologies plc has a 52-week low of $348.06 and a 52-week high of $503.47. 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 (NYSE:TT) last released its quarterly earnings results on Friday, May 1st. The company reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.10. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The firm had revenue of $4.97 billion during the quarter, compared to the consensus estimate of $4.81 billion. During the same quarter last year, the firm earned $2.45 earnings per share. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. As a group, equities analysts expect that Trane Technologies plc will post 14.87 EPS for the current year.

Trane Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th will be given a dividend of $1.05 per share. The ex-dividend date is Friday, June 5th. This represents a $4.20 annualized dividend and a dividend yield of 0.9%. Trane Technologies’s dividend payout ratio is 32.48%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of Trane Technologies from $434.00 to $460.00 and gave the company a “neutral” rating in a research note on Friday, January 30th. Evercore assumed coverage on shares of Trane Technologies in a research note on Monday, April 13th. They issued an “outperform” rating and a $535.00 price objective for the company. Citigroup increased their price objective on shares of Trane Technologies from $525.00 to $570.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Oppenheimer increased their price objective on shares of Trane Technologies from $460.00 to $468.00 and gave the company an “outperform” rating in a research note on Friday, January 30th. Finally, Wells Fargo & Company increased their price objective on shares of Trane Technologies from $375.00 to $400.00 and gave the company an “underweight” rating in a research note on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Trane Technologies presently has an average rating of “Moderate Buy” and an average price target of $505.56.

Insider Activity

In other news, CFO Christopher J. Kuehn sold 8,619 shares of the stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $450.00, for a total transaction of $3,878,550.00. Following the completion of the sale, the chief financial officer directly owned 60,576 shares in the company, valued at $27,259,200. This represents a 12.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 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. In the last three months, insiders have sold 53,654 shares of company stock valued at $23,269,523. 0.14% of the stock is owned by corporate insiders.

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.