Independent Advisor Alliance Increases Stake in Trane Technologies plc $TT

Independent Advisor Alliance raised its holdings in shares of Trane Technologies plc (NYSE:TT) by 18.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,590 shares of the company’s stock after buying an additional 1,047 shares during the period. Independent Advisor Alliance’s holdings in Trane Technologies were worth $2,565,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. OneAscent Wealth Management LLC increased its holdings in Trane Technologies by 1.5% during the third quarter. OneAscent Wealth Management LLC now owns 1,627 shares of the company’s stock valued at $686,000 after buying an additional 24 shares during the last quarter. Bridgewater Advisors Inc. increased its holdings in Trane Technologies by 3.7% during the third quarter. Bridgewater Advisors Inc. now owns 670 shares of the company’s stock valued at $285,000 after buying an additional 24 shares during the last quarter. West Family Investments Inc. increased its holdings in Trane Technologies by 2.3% during the third quarter. West Family Investments Inc. now owns 1,072 shares of the company’s stock valued at $452,000 after buying an additional 24 shares during the last quarter. Cresset Asset Management LLC increased its holdings in Trane Technologies by 0.3% during the third quarter. Cresset Asset Management LLC now owns 7,012 shares of the company’s stock valued at $2,959,000 after buying an additional 24 shares during the last quarter. Finally, Leavell Investment Management Inc. increased its holdings in Trane Technologies by 0.3% during the third quarter. Leavell Investment Management Inc. now owns 8,414 shares of the company’s stock valued at $3,550,000 after buying an additional 25 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TT has been the subject of a number of research reports. Royal Bank Of Canada upped their target price on shares of Trane Technologies from $440.00 to $501.00 and gave the company a “sector perform” rating in a report on Friday, May 1st. BNP Paribas Exane assumed coverage on shares of Trane Technologies in a report on Tuesday, April 14th. They set an “outperform” rating and a $550.00 target price for the company. Oppenheimer upped their price target on shares of Trane Technologies from $460.00 to $468.00 and gave the stock an “outperform” rating in a research report on Friday, January 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Trane Technologies in a research report on Monday, April 20th. Finally, Evercore assumed coverage on shares of Trane Technologies in a research report on Monday, April 13th. They issued an “outperform” rating and a $535.00 price target 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 given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $506.56.

Insider Activity at Trane Technologies

In related news, CEO David S. Regnery sold 36,045 shares of the firm’s stock in a transaction on Friday, March 6th. The shares were sold at an average price of $422.69, for a total transaction of $15,235,861.05. Following the completion of the transaction, the chief executive officer directly owned 96,948 shares of the company’s stock, valued at approximately $40,978,950.12. This trade represents a 27.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Donald E. Simmons sold 4,593 shares of the firm’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $500.00, for a total transaction of $2,296,500.00. Following the transaction, the insider directly owned 3,819 shares of the company’s stock, valued at $1,909,500. The trade was a 54.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 53,654 shares of company stock valued at $23,269,523. Insiders own 0.14% of the company’s stock.

Trane Technologies Stock Performance

TT opened at $481.43 on Friday. The firm has a market cap of $106.42 billion, a P/E ratio of 37.23, a PEG ratio of 2.17 and a beta of 1.25. Trane Technologies plc has a 1-year low of $348.06 and a 1-year high of $503.47. The company has a 50 day simple moving average of $449.74 and a two-hundred day simple moving average of $428.59. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.10 and a quick ratio of 0.77.

Trane Technologies (NYSE:TT) last posted its quarterly 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. The business had revenue of $4.97 billion during the quarter, compared to analyst estimates of $4.81 billion. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The company’s revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the business posted $2.45 earnings per share. Equities analysts forecast that Trane Technologies plc will post 14.87 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

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

About Trane Technologies

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.