Westerkirk Capital Inc. Grows Stock Position in Trane Technologies plc $TT

Westerkirk Capital Inc. lifted its stake in Trane Technologies plc (NYSE:TT) by 94.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,052 shares of the company’s stock after buying an additional 3,431 shares during the period. Westerkirk Capital Inc.’s holdings in Trane Technologies were worth $2,745,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of TT. Norges Bank purchased a new position in Trane Technologies during the 4th quarter valued at about $1,163,124,000. JPMorgan Chase & Co. increased its holdings in Trane Technologies by 10.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 15,525,010 shares of the company’s stock valued at $6,550,975,000 after purchasing an additional 1,433,563 shares during the period. Capital International Investors purchased a new position in Trane Technologies during the 4th quarter valued at about $324,639,000. Corient Private Wealth LLC increased its holdings in Trane Technologies by 135.4% during the 2nd quarter. Corient Private Wealth LLC now owns 735,589 shares of the company’s stock valued at $321,757,000 after purchasing an additional 423,090 shares during the period. Finally, SG Americas Securities LLC increased its holdings in Trane Technologies by 13,460.8% during the 4th quarter. SG Americas Securities LLC now owns 423,504 shares of the company’s stock valued at $164,828,000 after purchasing an additional 420,381 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Up 0.4%

TT stock opened at $458.72 on Tuesday. Trane Technologies plc has a fifty-two week low of $348.06 and a fifty-two week high of $503.47. The business’s 50 day moving average price is $459.88 and its two-hundred day moving average price is $431.82. 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 company has a market capitalization of $101.40 billion, a price-to-earnings ratio of 35.48, a price-to-earnings-growth ratio of 2.10 and a beta of 1.20.

Trane Technologies (NYSE:TT) last posted its earnings results on Friday, May 1st. The company reported $2.63 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $0.10. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The firm had revenue of $4.97 billion for the quarter, compared to the consensus estimate of $4.81 billion. During the same quarter in the prior year, the business earned $2.45 EPS. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. As a group, analysts forecast that Trane Technologies plc will post 14.88 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

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

Insider Buying and Selling

In other news, CFO Christopher J. Kuehn sold 8,619 shares of the business’s stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $450.00, for a total value of $3,878,550.00. Following the sale, the chief financial officer directly owned 60,576 shares of the company’s stock, valued at $27,259,200. The trade was a 12.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Donald E. Simmons sold 4,593 shares of the business’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $500.00, for a total value of $2,296,500.00. Following the completion of the sale, the insider directly owned 3,819 shares in the company, valued at approximately $1,909,500. This represents a 54.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Evercore assumed coverage on Trane Technologies in a report on Monday, April 13th. They set an “outperform” rating and a $535.00 price target on the stock. BNP Paribas Exane assumed coverage on Trane Technologies in a report on Tuesday, April 14th. They set an “outperform” rating and a $550.00 price target on the stock. Citigroup boosted their price target on Trane Technologies from $525.00 to $570.00 and gave the company a “buy” rating in a report on Friday, May 1st. Royal Bank Of Canada boosted their price target on Trane Technologies from $440.00 to $501.00 and gave the company a “sector perform” rating in a report on Friday, May 1st. Finally, KeyCorp boosted their price target on Trane Technologies from $525.00 to $555.00 and gave the company an “overweight” rating in a report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Trane Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $506.56.

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.