PFG Advisors Buys 4,600 Shares of Trane Technologies plc $TT

PFG Advisors grew its stake in Trane Technologies plc (NYSE:TT) by 211.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,776 shares of the company’s stock after buying an additional 4,600 shares during the quarter. PFG Advisors’ holdings in Trane Technologies were worth $2,859,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. Aptus Capital Advisors LLC increased its holdings in Trane Technologies by 169.8% during the 3rd quarter. Aptus Capital Advisors LLC now owns 14,738 shares of the company’s stock worth $6,219,000 after purchasing an additional 9,276 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Trane Technologies in the third quarter valued at about $6,571,000. Nordea Investment Management AB lifted its holdings in shares of Trane Technologies by 2.4% in the third quarter. Nordea Investment Management AB now owns 2,513,508 shares of the company’s stock valued at $1,051,049,000 after purchasing an additional 57,774 shares in the last quarter. Boston Common Asset Management LLC acquired a new position in shares of Trane Technologies during the third quarter worth about $9,546,000. Finally, Compass Wealth Management LLC grew its holdings in shares of Trane Technologies by 3,785.4% during the third quarter. Compass Wealth Management LLC now owns 27,198 shares of the company’s stock worth $11,476,000 after buying an additional 26,498 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Up 1.1%

TT stock opened at $427.89 on Tuesday. The company has a market cap of $94.70 billion, a price-to-earnings ratio of 32.97, a P/E/G ratio of 2.23 and a beta of 1.19. Trane Technologies plc has a twelve month low of $298.15 and a twelve month high of $479.37. The business has a 50 day moving average price of $423.43 and a two-hundred day moving average price of $417.02. 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 announced its quarterly earnings data 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. The company had revenue of $5.14 billion for the quarter, compared to analysts’ expectations of $5.09 billion. Trane Technologies had a return on equity of 36.34% and a net margin of 13.69%.The business’s revenue was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.61 EPS. Analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Increases Dividend

The company also recently declared 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 yield of 1.0%. This is an increase from Trane Technologies’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Friday, March 6th. Trane Technologies’s payout ratio is currently 32.36%.

Analyst Ratings Changes

Several equities research analysts have commented on TT shares. KeyCorp upgraded Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 target price on the stock in a research note on Monday, December 15th. Bank of America raised shares of Trane Technologies from a “neutral” rating to a “buy” rating and raised their price target for the stock from $490.00 to $550.00 in a research note on Thursday, November 13th. JPMorgan Chase & Co. lifted their price objective on shares of Trane Technologies from $434.00 to $460.00 and gave the company a “neutral” rating in a report on Friday, January 30th. Wells Fargo & Company increased their target price on shares of Trane Technologies from $375.00 to $400.00 and gave the stock an “underweight” rating in a report on Friday, January 30th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Trane Technologies in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $484.67.

Insider Activity

In other news, CFO Christopher J. Kuehn sold 2,389 shares of the company’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $462.70, for a total value of $1,105,390.30. Following the sale, the chief financial officer directly owned 60,486 shares of the company’s stock, valued at approximately $27,986,872.20. This represents a 3.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David S. Regnery sold 36,045 shares of the firm’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $422.69, for a total transaction of $15,235,861.05. Following the completion of the sale, the chief executive officer owned 96,948 shares of the company’s stock, valued at $40,978,950.12. This trade represents a 27.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 49,378 shares of company stock worth $21,228,464. 0.14% of the stock is owned by insiders.

About Trane Technologies

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.