Global Assets Advisory LLC Makes New $18.97 Million Investment in Trane Technologies plc (NYSE:TT)

Global Assets Advisory LLC acquired a new stake in shares of Trane Technologies plc (NYSE:TT) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 63,203 shares of the company’s stock, valued at approximately $18,974,000.

Other large investors have also made changes to their positions in the company. BKM Wealth Management LLC acquired a new stake in Trane Technologies in the 4th quarter valued at $25,000. Motco acquired a new position in Trane Technologies during the 4th quarter worth approximately $27,000. Sachetta LLC purchased a new position in Trane Technologies in the 4th quarter worth approximately $27,000. Ancora Advisors LLC acquired a new stake in Trane Technologies in the third quarter valued at approximately $40,000. Finally, Gables Capital Management Inc. raised its stake in shares of Trane Technologies by 68.2% during the fourth quarter. Gables Capital Management Inc. now owns 185 shares of the company’s stock valued at $45,000 after purchasing an additional 75 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, SVP Evan M. Turtz sold 8,988 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $321.30, for a total transaction of $2,887,844.40. Following the completion of the transaction, the senior vice president now directly owns 20,758 shares in the company, valued at $6,669,545.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Trane Technologies news, CFO Christopher J. Kuehn sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $318.67, for a total transaction of $1,274,680.00. Following the transaction, the chief financial officer now owns 61,293 shares of the company’s stock, valued at approximately $19,532,240.31. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Evan M. Turtz sold 8,988 shares of the business’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $321.30, for a total transaction of $2,887,844.40. Following the sale, the senior vice president now owns 20,758 shares in the company, valued at $6,669,545.40. The disclosure for this sale can be found here. Corporate insiders own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Robert W. Baird raised their target price on Trane Technologies from $315.00 to $344.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Stephens raised their price objective on Trane Technologies from $310.00 to $320.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 1st. Barclays upped their target price on Trane Technologies from $354.00 to $380.00 and gave the company an “overweight” rating in a research report on Tuesday, June 4th. JPMorgan Chase & Co. raised their price target on shares of Trane Technologies from $247.00 to $300.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Finally, Citigroup upped their price target on shares of Trane Technologies from $355.00 to $366.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Trane Technologies presently has a consensus rating of “Hold” and a consensus price target of $309.79.

Trane Technologies Price Performance

Shares of NYSE:TT opened at $338.14 on Tuesday. The company has a quick ratio of 0.74, a current ratio of 1.13 and a debt-to-equity ratio of 0.58. The firm has a 50-day simple moving average of $322.03 and a 200 day simple moving average of $287.77. Trane Technologies plc has a fifty-two week low of $184.02 and a fifty-two week high of $345.46. The company has a market cap of $76.54 billion, a PE ratio of 36.13, a P/E/G ratio of 2.66 and a beta of 1.01.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $1.94 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.30. Trane Technologies had a return on equity of 32.78% and a net margin of 11.81%. The business had revenue of $4.22 billion for the quarter, compared to analysts’ expectations of $3.99 billion. During the same period in the prior year, the firm earned $1.41 EPS. The business’s quarterly revenue was up 15.0% on a year-over-year basis. On average, sell-side analysts anticipate that Trane Technologies plc will post 10.46 EPS for the current year.

Trane Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be given a dividend of $0.84 per share. The ex-dividend date is Friday, September 6th. This represents a $3.36 annualized dividend and a dividend yield of 0.99%. Trane Technologies’s dividend payout ratio is currently 35.90%.

About Trane Technologies

Trane Technologies plc, together with its subsidiaries, designs, manufactures, sells, and services of solutions for heating, ventilation, air conditioning, custom, and custom and transport refrigeration in Ireland and internationally. It offers air conditioners, exchangers, and handlers; airside and terminal devices; air sourced heat pumps, auxiliary power units; chillers; coils and condensers; gensets; dehumidifiers; ductless; furnaces; home automation products; humidifiers; indoor air quality assessments and related products; large and light commercial unitary products; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.