Buffalo Business & Estate Services Ltd. Sells 1,643 Shares of Trane Technologies plc $TT

Buffalo Business & Estate Services Ltd. lowered its position in Trane Technologies plc (NYSE:TT) by 14.8% during the first quarter, according to its most recent filing with the SEC. The firm owned 9,469 shares of the company’s stock after selling 1,643 shares during the period. Buffalo Business & Estate Services Ltd.’s holdings in Trane Technologies were worth $3,946,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. Bell Investment Advisors Inc lifted its holdings in Trane Technologies by 12.2% in the first quarter. Bell Investment Advisors Inc now owns 203 shares of the company’s stock valued at $85,000 after buying an additional 22 shares during the period. Anchyra Partners LLC grew its holdings in Trane Technologies by 15.2% during the 1st quarter. Anchyra Partners LLC now owns 788 shares of the company’s stock worth $328,000 after acquiring an additional 104 shares during the period. Summit Wealth Partners LLC bought a new position in shares of Trane Technologies in the 1st quarter worth about $336,000. Harbour Wealth Management Group Inc. lifted its stake in shares of Trane Technologies by 1.8% in the 1st quarter. Harbour Wealth Management Group Inc. now owns 3,423 shares of the company’s stock valued at $1,427,000 after purchasing an additional 59 shares during the period. Finally, Values First Advisors Inc. lifted its stake in shares of Trane Technologies by 5.4% in the 1st quarter. Values First Advisors Inc. now owns 4,852 shares of the company’s stock valued at $2,022,000 after purchasing an additional 247 shares during the period. Institutional investors own 82.97% of the company’s stock.

Insiders Place Their Bets

In related news, insider Donald E. Simmons sold 4,593 shares of the company’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $500.00, for a total value of $2,296,500.00. Following the sale, the insider owned 3,819 shares in the company, valued at $1,909,500. This represents a 54.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Christopher J. Kuehn sold 8,619 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer directly owned 60,576 shares in the company, valued at approximately $27,259,200. The trade was a 12.46% decrease in their position. 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.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on TT shares. JPMorgan Chase & Co. raised their target price on Trane Technologies from $460.00 to $476.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. KeyCorp boosted their price target on Trane Technologies from $525.00 to $555.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Citigroup raised their price objective on shares of Trane Technologies from $525.00 to $570.00 and gave the stock a “buy” 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 company a “sector perform” rating in a research note on Friday, May 1st. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Trane Technologies in a research note on Monday, April 20th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $509.12.

Trane Technologies Stock Up 1.6%

TT stock opened at $490.95 on Tuesday. The stock’s 50 day simple moving average is $468.51 and its 200 day simple moving average is $435.96. The company has a market cap of $108.52 billion, a P/E ratio of 37.97, a price-to-earnings-growth ratio of 2.23 and a beta of 1.20. 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 plc has a fifty-two week low of $348.06 and a fifty-two week high of $503.47.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Friday, May 1st. The company reported $2.63 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.10. The firm had revenue of $4.97 billion during the quarter, compared to analysts’ expectations of $4.81 billion. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter last year, the firm posted $2.45 earnings per share. On average, research analysts expect that Trane Technologies plc will post 14.88 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

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

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.