ProCore Advisors LLC Makes New Investment in Trane Technologies plc $TT

ProCore Advisors LLC purchased a new position in shares of Trane Technologies plc (NYSE:TT) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,412 shares of the company’s stock, valued at approximately $939,000. Trane Technologies comprises 1.0% of ProCore Advisors LLC’s holdings, making the stock its 24th largest position.

Other institutional investors also recently bought and sold shares of the company. Financial Consulate Inc. purchased a new stake in Trane Technologies during the 3rd quarter worth about $25,000. United Community Bank lifted its holdings in Trane Technologies by 134.4% during the 3rd quarter. United Community Bank now owns 75 shares of the company’s stock worth $32,000 after buying an additional 43 shares during the last quarter. JPL Wealth Management LLC purchased a new stake in Trane Technologies during the 3rd quarter worth about $32,000. Halbert Hargrove Global Advisors LLC lifted its holdings in Trane Technologies by 34.2% during the 3rd quarter. Halbert Hargrove Global Advisors LLC now owns 102 shares of the company’s stock worth $43,000 after buying an additional 26 shares during the last quarter. Finally, KERR FINANCIAL PLANNING Corp purchased a new stake in Trane Technologies during the 3rd quarter worth about $42,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Oppenheimer lifted their price target on Trane Technologies from $460.00 to $468.00 and gave the stock an “outperform” rating in a report on Friday, January 30th. UBS Group reduced their target price on Trane Technologies from $544.00 to $520.00 and set a “buy” rating for the company in a report on Monday, January 5th. Melius Research raised Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 target price for the company in a report on Wednesday, January 7th. Barclays boosted their target price on Trane Technologies from $505.00 to $507.00 and gave the company an “overweight” rating in a report on Friday, January 30th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Trane Technologies in a report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $484.67.

Insider Buying and Selling

In related news, CEO David S. Regnery sold 36,045 shares of the business’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $422.69, for a total value of $15,235,861.05. Following the transaction, the chief executive officer owned 96,948 shares in the company, valued at $40,978,950.12. The trade was a 27.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Elizabeth A. Elwell sold 635 shares of the business’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $422.70, for a total value of $268,414.50. Following the completion of the transaction, the chief accounting officer owned 7,100 shares in the company, valued at $3,001,170. This trade represents a 8.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 49,378 shares of company stock worth $21,228,464. Insiders own 0.14% of the company’s stock.

Trane Technologies Stock Up 0.2%

Trane Technologies stock opened at $431.77 on Wednesday. Trane Technologies plc has a fifty-two week low of $310.80 and a fifty-two week high of $479.37. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.25. The company has a market capitalization of $95.56 billion, a P/E ratio of 33.26, a PEG ratio of 2.25 and a beta of 1.21. The stock has a 50-day simple moving average of $438.26 and a 200-day simple moving average of $418.61.

Trane Technologies (NYSE:TT) last posted its earnings results on Thursday, January 29th. The company reported $2.86 earnings per share for the quarter, beating the consensus estimate 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 previous year, the business earned $2.61 EPS. The business’s quarterly revenue was up 5.6% on a year-over-year basis. Equities research analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 5th will be given a $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 1.0%. The ex-dividend date is Friday, June 5th. Trane Technologies’s payout ratio is 32.36%.

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.