Hager Investment Management Services LLC Invests $473,000 in Trane Technologies plc $TT

Hager Investment Management Services LLC acquired a new stake in Trane Technologies plc (NYSE:TT) during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 1,121 shares of the company’s stock, valued at approximately $473,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Financial Consulate Inc. acquired a new stake in Trane Technologies in the third quarter valued at $25,000. Icon Advisers Inc. Co. acquired a new stake in Trane Technologies during the second quarter worth approximately $26,000. Hantz Financial Services Inc. lifted its position in shares of Trane Technologies by 1,016.7% during the 2nd quarter. Hantz Financial Services Inc. now owns 67 shares of the company’s stock worth $29,000 after buying an additional 61 shares during the last quarter. United Community Bank boosted its holdings in shares of Trane Technologies by 134.4% in the 3rd quarter. United Community Bank now owns 75 shares of the company’s stock valued at $32,000 after buying an additional 43 shares in the last quarter. Finally, Halbert Hargrove Global Advisors LLC grew its position in shares of Trane Technologies by 34.2% in the 3rd quarter. Halbert Hargrove Global Advisors LLC now owns 102 shares of the company’s stock valued at $43,000 after buying an additional 26 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

TT has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upped their target price on Trane Technologies from $434.00 to $460.00 and gave the company a “neutral” rating in a research report on Friday, January 30th. UBS Group decreased their price objective on Trane Technologies from $544.00 to $520.00 and set a “buy” rating for the company in a report on Monday, January 5th. Morgan Stanley lowered their target price on shares of Trane Technologies from $550.00 to $535.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 13th. Oppenheimer upped their price target on shares of Trane Technologies from $460.00 to $468.00 and gave the company an “outperform” rating in a research report on Friday, January 30th. Finally, KeyCorp upgraded shares of Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 price objective on the stock in a research note on Monday, December 15th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $484.67.

Insider Activity at Trane Technologies

In other news, CAO Elizabeth A. Elwell sold 137 shares of the stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $462.48, for a total value of $63,359.76. Following the completion of the transaction, the chief accounting officer owned 7,100 shares in the company, valued at $3,283,608. This trade represents a 1.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Christopher J. Kuehn sold 2,389 shares of the business’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $462.70, for a total transaction of $1,105,390.30. Following the sale, the chief financial officer directly owned 60,486 shares in the company, valued at approximately $27,986,872.20. This represents a 3.80% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 8,936 shares of company stock valued at $4,133,991. Company insiders own 0.14% of the company’s stock.

Trane Technologies Price Performance

Shares of NYSE:TT opened at $460.32 on Thursday. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $479.37. The company has a 50-day moving average price of $414.81 and a 200 day moving average price of $416.19. The company has a market cap of $101.88 billion, a P/E ratio of 35.46, a PEG ratio of 2.44 and a beta of 1.21. The company has a quick ratio of 0.92, a current ratio of 1.25 and a debt-to-equity ratio of 0.46.

Trane Technologies (NYSE:TT) last issued its earnings results on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.81 by $0.05. Trane Technologies had a return on equity of 36.34% and a net margin of 13.69%.The business had revenue of $5.14 billion during the quarter, compared to the consensus estimate of $5.09 billion. During the same period in the prior year, the business posted $2.61 EPS. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. Research analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 6th will be given a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, March 6th. This is an increase from Trane Technologies’s previous quarterly dividend of $0.94. Trane Technologies’s payout ratio is presently 28.97%.

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.