1,493 Shares in Trane Technologies plc $TT Acquired by Gibbs Wealth Management

Gibbs Wealth Management acquired a new stake in Trane Technologies plc (NYSE:TT) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,493 shares of the company’s stock, valued at approximately $622,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of TT. Tucker Asset Management LLC acquired a new stake in Trane Technologies in the 4th quarter valued at $25,000. Wilkerson Advisory Group LLC increased its position in shares of Trane Technologies by 136.0% during the first quarter. Wilkerson Advisory Group LLC now owns 59 shares of the company’s stock worth $25,000 after acquiring an additional 34 shares in the last quarter. Hilton Head Capital Partners LLC acquired a new stake in shares of Trane Technologies in the 4th quarter worth about $32,000. JPL Wealth Management LLC bought a new stake in Trane Technologies during the third quarter worth $32,000. Finally, Physician Wealth Advisors Inc. raised its position in Trane Technologies by 192.6% in the 1st quarter. Physician Wealth Advisors Inc. now owns 79 shares of the company’s stock valued at $33,000 after buying an additional 52 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling at Trane Technologies

In other news, 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 completion of the transaction, the insider owned 3,819 shares in the company, valued at approximately $1,909,500. This represents a 54.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 Performance

Shares of TT stock opened at $481.09 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.10. The firm has a market cap of $106.34 billion, a price-to-earnings ratio of 37.21, a P/E/G ratio of 2.21 and a beta of 1.19. Trane Technologies plc has a 52 week low of $348.06 and a 52 week high of $505.87. The firm’s 50-day simple moving average is $470.13 and its two-hundred day simple moving average is $449.87.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Friday, May 1st. The company reported $2.63 earnings per share (EPS) for the quarter, topping 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 company had revenue of $4.97 billion during the quarter, compared to analyst estimates of $4.81 billion. During the same quarter last year, the business posted $2.45 EPS. Trane Technologies’s quarterly revenue was up 6.0% compared to the same quarter last year. As a group, equities analysts forecast that Trane Technologies plc will post 14.89 earnings per share for the current year.

Trane Technologies Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on TT. Barclays lifted their price objective on shares of Trane Technologies from $507.00 to $585.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. BNP Paribas Exane initiated coverage on shares of Trane Technologies in a report on Tuesday, April 14th. They set an “outperform” rating and a $550.00 price target on the stock. Evercore initiated 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. Sanford C. Bernstein set a $555.00 target price on shares of Trane Technologies in a research report on Thursday, July 9th. Finally, Royal Bank Of Canada upped their target price on Trane Technologies from $440.00 to $501.00 and gave the company a “sector perform” rating in a report on Friday, May 1st. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $516.67.

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.