Trane Technologies plc $TT Shares Newly Bought by Cornerstone Advisors LLC

Cornerstone Advisors LLC bought a new position in Trane Technologies plc (NYSE:TT) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 12,605 shares of the company’s stock, valued at approximately $5,697,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Wilkerson Advisory Group LLC lifted its holdings in shares of Trane Technologies by 136.0% in the 1st quarter. Wilkerson Advisory Group LLC now owns 59 shares of the company’s stock worth $25,000 after acquiring an additional 34 shares during the last quarter. Elevation Wealth Partners LLC grew its holdings in shares of Trane Technologies by 153.8% during the 2nd quarter. Elevation Wealth Partners LLC now owns 66 shares of the company’s stock valued at $32,000 after purchasing an additional 40 shares during the last quarter. Frazier Financial Advisors LLC bought a new position in shares of Trane Technologies during the 1st quarter valued at $33,000. James T. Borello RIA raised its position in Trane Technologies by 41.7% in the 3rd quarter. James T. Borello RIA now owns 102 shares of the company’s stock worth $46,000 after purchasing an additional 30 shares during the period. Finally, MADDEN SECURITIES Corp purchased a new position in Trane Technologies in the 3rd quarter worth $46,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Evercore boosted their price target on shares of Trane Technologies from $560.00 to $565.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Deutsche Bank reduced their price objective on Trane Technologies from $515.00 to $499.00 and set a “hold” rating on the stock in a research note on Wednesday, September 30th. Weiss Ratings upgraded Trane Technologies from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, September 10th. Wall Street Zen lowered Trane Technologies from a “buy” rating to a “hold” rating in a research note on Sunday, November 8th. Finally, Oppenheimer restated an “outperform” rating and set a $500.00 target price on shares of Trane Technologies in a report on Friday, October 30th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Trane Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $531.22.

Trane Technologies Stock Down 1.5%

Shares of NYSE TT opened at $417.79 on Friday. The company has a quick ratio of 0.79, a current ratio of 1.12 and a debt-to-equity ratio of 0.43. Trane Technologies plc has a 52 week low of $348.06 and a 52 week high of $505.87. The firm’s fifty day moving average is $443.51 and its 200 day moving average is $455.21. The company has a market cap of $91.46 billion, a price-to-earnings ratio of 29.51, a PEG ratio of 1.99 and a beta of 1.19.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Thursday, October 29th. The company reported $4.86 EPS for the quarter, beating analysts’ consensus estimates of $4.74 by $0.12. The company had revenue of $6.76 billion during the quarter, compared to analyst estimates of $6.50 billion. Trane Technologies had a net margin of 13.56% and a return on equity of 37.26%. The firm’s revenue was up 17.7% compared to the same quarter last year. During the same period in the prior year, the business posted $3.88 EPS. On average, equities research analysts expect that Trane Technologies plc will post 15.29 earnings per share for the current year.

Trane Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Friday, December 4th will be paid a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, December 4th. Trane Technologies’s dividend payout ratio is 29.66%.

Insider Activity at Trane Technologies

In other news, CEO David Regnery sold 48,091 shares of the stock in a transaction dated Tuesday, October 6th. The shares were sold at an average price of $480.00, for a total transaction of $23,083,680.00. Following the completion of the sale, the chief executive officer directly owned 96,951 shares in the company, valued at approximately $46,536,480. This represents a 33.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.43% of the company’s stock.

About Trane Technologies

Trane Technologies plc is a global climate innovator that designs, manufactures, and services heating, ventilation, air conditioning, and refrigeration systems. Its products and services support commercial buildings, homes, and transportation applications, including temperature-controlled shipping. The company’s portfolio includes the Trane brand of HVAC systems and building services, as well as Thermo King equipment for transport refrigeration and climate control. It also offers building controls, energy-efficiency solutions, system maintenance, and related services.