RFG Advisory LLC Takes $326,000 Position in Trane Technologies plc (NYSE:TT)

RFG Advisory LLC bought a new position in shares of Trane Technologies plc (NYSE:TT) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,086 shares of the company’s stock, valued at approximately $326,000.

Several other large investors also recently bought and sold shares of the stock. JPMorgan Chase & Co. grew its stake in shares of Trane Technologies by 5.4% during the third quarter. JPMorgan Chase & Co. now owns 17,085,662 shares of the company’s stock worth $3,466,852,000 after purchasing an additional 880,583 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Trane Technologies by 2.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 4,050,779 shares of the company’s stock valued at $821,952,000 after acquiring an additional 103,823 shares during the last quarter. Morgan Stanley raised its position in shares of Trane Technologies by 0.6% during the 3rd quarter. Morgan Stanley now owns 2,797,382 shares of the company’s stock worth $567,617,000 after acquiring an additional 17,758 shares in the last quarter. Norges Bank purchased a new stake in Trane Technologies during the fourth quarter worth approximately $655,804,000. Finally, Capital World Investors boosted its holdings in Trane Technologies by 0.6% in the fourth quarter. Capital World Investors now owns 2,176,595 shares of the company’s stock valued at $530,870,000 after purchasing an additional 11,930 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Trading Down 0.8 %

NYSE:TT opened at $335.60 on Wednesday. Trane Technologies plc has a 12-month low of $184.02 and a 12-month high of $345.46. The company has a current ratio of 1.13, a quick ratio of 0.74 and a debt-to-equity ratio of 0.58. The stock’s 50 day simple moving average is $322.83 and its 200-day simple moving average is $288.48. The firm has a market cap of $75.96 billion, a P/E ratio of 35.85, a PEG ratio of 2.66 and a beta of 1.01.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.30. The company had revenue of $4.22 billion for the quarter, compared to analysts’ expectations of $3.99 billion. Trane Technologies had a net margin of 11.81% and a return on equity of 32.78%. Trane Technologies’s revenue was up 15.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.41 EPS. Equities analysts anticipate that Trane Technologies plc will post 10.46 EPS for the current year.

Trane Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date is Friday, September 6th. Trane Technologies’s dividend payout ratio is presently 35.90%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on TT shares. TD Cowen raised their price objective on shares of Trane Technologies from $325.00 to $360.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Mizuho boosted their price target on shares of Trane Technologies from $280.00 to $325.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. The Goldman Sachs Group raised their price objective on Trane Technologies from $287.00 to $326.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. UBS Group boosted their target price on Trane Technologies from $330.00 to $375.00 and gave the company a “buy” rating in a report on Monday, June 3rd. Finally, Stephens raised their price target on Trane Technologies from $310.00 to $320.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 1st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Trane Technologies presently has an average rating of “Hold” and an average price target of $309.79.

Insiders Place Their Bets

In related news, SVP Evan M. Turtz sold 8,988 shares of Trane Technologies stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $321.30, for a total value of $2,887,844.40. Following the sale, the senior vice president now directly owns 20,758 shares in the company, valued at $6,669,545.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, SVP Evan M. Turtz sold 8,988 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $321.30, for a total value of $2,887,844.40. Following the completion of the sale, the senior vice president now owns 20,758 shares in the company, valued at $6,669,545.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Christopher J. Kuehn sold 4,000 shares of the company’s stock in a transaction dated Tuesday, June 4th. The stock was 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 in the company, valued at $19,532,240.31. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by insiders.

Trane Technologies Profile

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.