Argos Wealth Advisors LLC Takes $3.87 Million Position in Trane Technologies plc $TT

Argos Wealth Advisors LLC acquired a new stake in Trane Technologies plc (NYSE:TT) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 9,950 shares of the company’s stock, valued at approximately $3,873,000. Trane Technologies comprises 1.1% of Argos Wealth Advisors LLC’s portfolio, making the stock its 13th biggest position.

A number of other hedge funds have also made changes to their positions in the business. Valley Wealth Managers Inc. increased its holdings in shares of Trane Technologies by 5.0% in the 4th quarter. Valley Wealth Managers Inc. now owns 1,714 shares of the company’s stock valued at $667,000 after acquiring an additional 82 shares during the last quarter. Provident Investment Management Inc. boosted its position in shares of Trane Technologies by 3.8% in the 4th quarter. Provident Investment Management Inc. now owns 66,488 shares of the company’s stock valued at $25,877,000 after purchasing an additional 2,444 shares during the period. Gratus Wealth Advisors LLC boosted its position in shares of Trane Technologies by 22.2% in the 4th quarter. Gratus Wealth Advisors LLC now owns 2,056 shares of the company’s stock valued at $800,000 after purchasing an additional 374 shares during the period. Strategic Planning Group LLC boosted its position in shares of Trane Technologies by 12.3% in the 4th quarter. Strategic Planning Group LLC now owns 16,810 shares of the company’s stock valued at $6,543,000 after purchasing an additional 1,838 shares during the period. Finally, Pure Financial Advisors LLC boosted its position in shares of Trane Technologies by 14.2% in the 4th quarter. Pure Financial Advisors LLC now owns 1,247 shares of the company’s stock valued at $485,000 after purchasing an additional 155 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Down 1.8%

Trane Technologies stock opened at $467.77 on Wednesday. Trane Technologies plc has a twelve month low of $348.06 and a twelve month high of $503.47. The stock has a 50 day moving average of $448.94 and a two-hundred day moving average of $427.82. The company has a current ratio of 1.10, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $103.40 billion, a price-to-earnings ratio of 36.18, a PEG ratio of 2.20 and a beta of 1.25.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data 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. The company had revenue of $4.97 billion during the quarter, compared to analysts’ expectations of $4.81 billion. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period last year, the firm earned $2.45 EPS. As a group, research analysts expect that Trane Technologies plc will post 14.87 earnings per share for the current year.

Trane Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th will be paid a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, June 5th. Trane Technologies’s dividend payout ratio is 32.48%.

Analyst Ratings Changes

TT has been the subject of a number of research analyst reports. Wells Fargo & Company upped their target price on Trane Technologies from $375.00 to $400.00 and gave the company an “underweight” rating in a research report on Friday, January 30th. Oppenheimer upped their target price on Trane Technologies from $460.00 to $468.00 and gave the company an “outperform” rating in a research report on Friday, January 30th. Citigroup upped their target price on Trane Technologies from $525.00 to $570.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Morgan Stanley decreased their target price on Trane Technologies from $550.00 to $535.00 and set an “overweight” rating for the company in a research report on Tuesday, January 13th. Finally, BNP Paribas Exane began coverage on Trane Technologies in a research report on Tuesday, April 14th. They issued an “outperform” rating and a $550.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $505.56.

Insiders Place Their Bets

In other news, CAO Elizabeth A. Elwell sold 635 shares of the stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $422.70, for a total transaction of $268,414.50. Following the completion of the transaction, the chief accounting officer directly owned 7,100 shares of the company’s stock, valued at approximately $3,001,170. This represents a 8.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Donald E. Simmons sold 4,593 shares of the 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 transaction, the insider directly owned 3,819 shares of the company’s stock, valued at approximately $1,909,500. This trade represents a 54.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 53,654 shares of company stock valued at $23,269,523. Corporate insiders own 0.14% of the company’s stock.

Trane Technologies 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.