CrossGen Wealth LLC Invests $518,000 in Trane Technologies plc $TT

CrossGen Wealth LLC acquired a new stake in Trane Technologies plc (NYSE:TT) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,330 shares of the company’s stock, valued at approximately $518,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TT. Norges Bank bought a new stake in shares of Trane Technologies during the 4th quarter valued at $1,163,124,000. Capital International Investors bought a new position in shares of Trane Technologies in the 4th quarter worth $324,639,000. Corient Private Wealth LLC boosted its position in shares of Trane Technologies by 135.4% in the 2nd quarter. Corient Private Wealth LLC now owns 735,589 shares of the company’s stock worth $321,757,000 after purchasing an additional 423,090 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Trane Technologies by 13,460.8% during the fourth quarter. SG Americas Securities LLC now owns 423,504 shares of the company’s stock worth $164,828,000 after purchasing an additional 420,381 shares during the period. Finally, Capital Research Global Investors bought a new stake in Trane Technologies in the fourth quarter valued at about $132,124,000. 82.97% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Citigroup increased their target price on Trane Technologies from $525.00 to $570.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Sanford C. Bernstein assumed coverage on Trane Technologies in a research note on Tuesday, June 9th. They issued an “outperform” rating and a $550.00 price target for the company. Barclays increased their price target on shares of Trane Technologies from $507.00 to $585.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Royal Bank Of Canada lifted their price objective on shares of Trane Technologies from $440.00 to $501.00 and gave the stock a “sector perform” rating in a research note on Friday, May 1st. Finally, 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 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $509.12.

Insider Buying and Selling

In related news, CFO Christopher J. Kuehn sold 8,619 shares of the firm’s 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 sale, the chief financial officer directly owned 60,576 shares in the company, valued at $27,259,200. This trade represents a 12.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Donald E. Simmons sold 4,593 shares of the business’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $500.00, for a total transaction of $2,296,500.00. Following the completion of the sale, the insider directly owned 3,819 shares in the company, valued at $1,909,500. This 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. Insiders own 0.43% of the company’s stock.

Trane Technologies Stock Up 2.4%

Shares of Trane Technologies stock opened at $483.88 on Friday. Trane Technologies plc has a 1 year low of $348.06 and a 1 year high of $503.47. The business has a 50-day moving average of $467.20 and a two-hundred day moving average of $434.88. The company has a market capitalization of $106.96 billion, a P/E ratio of 37.42, a price-to-earnings-growth ratio of 2.18 and a beta of 1.20. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.10 and a quick ratio of 0.77.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Friday, May 1st. The company reported $2.63 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.10. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The business had revenue of $4.97 billion for the quarter, compared to analysts’ expectations of $4.81 billion. During the same quarter in the previous year, the business posted $2.45 EPS. Trane Technologies’s revenue for the quarter was up 6.0% on a year-over-year basis. As a group, equities analysts predict that Trane Technologies plc will post 14.88 EPS for the current year.

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, September 4th will be paid a $1.05 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $4.20 dividend on an annualized basis and a yield of 0.9%. Trane Technologies’s payout ratio is presently 32.48%.

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.