Munro Partners Has $6.58 Million Holdings in Trane Technologies plc $TT

Munro Partners decreased its holdings in Trane Technologies plc (NYSE:TT) by 6.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,895 shares of the company’s stock after selling 1,170 shares during the quarter. Munro Partners’ holdings in Trane Technologies were worth $6,576,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Tucker Asset Management LLC acquired a new position in shares of Trane Technologies in the 4th quarter valued at $25,000. Hilton Head Capital Partners LLC acquired a new position in shares of Trane Technologies in the 4th quarter valued at $32,000. JPL Wealth Management LLC acquired a new position in shares of Trane Technologies in the 3rd quarter valued at $32,000. Creative Financial Designs Inc. ADV raised its stake in shares of Trane Technologies by 119.5% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 90 shares of the company’s stock valued at $35,000 after buying an additional 49 shares in the last quarter. Finally, KERR FINANCIAL PLANNING Corp acquired a new position in shares of Trane Technologies in the 3rd quarter valued at $42,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Activity

In other Trane Technologies news, CFO Christopher J. Kuehn sold 8,619 shares of the stock in a transaction dated Wednesday, April 8th. The shares were sold at an average price of $450.00, for a total transaction of $3,878,550.00. Following the sale, the chief financial officer owned 60,576 shares of the company’s stock, valued at $27,259,200. This represents a 12.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Donald E. Simmons sold 4,593 shares of the stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $500.00, for a total transaction of $2,296,500.00. Following 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 position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is currently owned by corporate insiders.

Trane Technologies Stock Up 3.1%

TT opened at $472.54 on Tuesday. The firm’s 50-day simple moving average is $464.34 and its 200-day simple moving average is $433.68. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.10. Trane Technologies plc has a twelve month low of $348.06 and a twelve month high of $503.47. The firm has a market cap of $104.45 billion, a price-to-earnings ratio of 36.55, a PEG ratio of 2.11 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 the consensus estimate of $2.53 by $0.10. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The business had revenue of $4.97 billion for the quarter, compared to analyst estimates of $4.81 billion. During the same quarter in the prior year, the firm earned $2.45 EPS. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. Equities research analysts anticipate that Trane Technologies plc will post 14.88 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on TT shares. Sanford C. Bernstein started coverage on shares of Trane Technologies in a research note on Tuesday, June 9th. They issued an “outperform” rating and a $550.00 price objective for the company. BNP Paribas Exane started coverage on shares of Trane Technologies in a research note on Tuesday, April 14th. They issued an “outperform” rating and a $550.00 price objective for the company. Royal Bank Of Canada increased their price objective on shares of Trane Technologies from $440.00 to $501.00 and gave the company a “sector perform” rating in a research note on Friday, May 1st. Barclays increased their price objective on shares of Trane Technologies from $507.00 to $585.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Finally, JPMorgan Chase & Co. upped their target price on shares of Trane Technologies from $460.00 to $476.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $509.12.

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.