Peterson Wealth Services Reduces Stock Position in Trane Technologies plc $TT

Peterson Wealth Services lowered its position in Trane Technologies plc (NYSE:TT) by 43.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,888 shares of the company’s stock after selling 1,472 shares during the quarter. Peterson Wealth Services’ holdings in Trane Technologies were worth $735,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of TT. Brighton Jones LLC grew its holdings in shares of Trane Technologies by 60.0% in the fourth quarter. Brighton Jones LLC now owns 6,194 shares of the company’s stock valued at $2,288,000 after purchasing an additional 2,323 shares during the period. Sivia Capital Partners LLC grew its holdings in shares of Trane Technologies by 22.4% in the second quarter. Sivia Capital Partners LLC now owns 1,665 shares of the company’s stock valued at $728,000 after purchasing an additional 305 shares during the period. Schnieders Capital Management LLC. purchased a new stake in shares of Trane Technologies in the second quarter valued at about $227,000. Nebula Research & Development LLC grew its holdings in shares of Trane Technologies by 178.0% in the second quarter. Nebula Research & Development LLC now owns 2,371 shares of the company’s stock valued at $1,037,000 after purchasing an additional 1,518 shares during the period. Finally, Treasurer of the State of North Carolina grew its holdings in shares of Trane Technologies by 0.5% in the second quarter. Treasurer of the State of North Carolina now owns 104,140 shares of the company’s stock valued at $45,552,000 after purchasing an additional 497 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on TT shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Trane Technologies in a research report on Monday, April 20th. KeyCorp increased their price objective on Trane Technologies from $525.00 to $555.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. JPMorgan Chase & Co. increased their price objective on Trane Technologies from $460.00 to $476.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. BNP Paribas Exane started coverage on Trane Technologies in a research report on Tuesday, April 14th. They issued an “outperform” rating and a $550.00 price objective for the company. Finally, Royal Bank Of Canada increased their price objective on Trane Technologies from $440.00 to $501.00 and gave the stock a “sector perform” rating in a research report on Friday, May 1st. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $509.12.

Insider Activity at Trane Technologies

In other news, insider Donald E. Simmons sold 4,593 shares of the firm’s stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $500.00, for a total value of $2,296,500.00. Following the completion of the transaction, the insider 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Christopher J. Kuehn sold 8,619 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer directly owned 60,576 shares of the company’s stock, valued at approximately $27,259,200. The trade was a 12.46% decrease in their position. 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. Company insiders own 0.43% of the company’s stock.

Trane Technologies Trading Up 2.4%

TT opened at $459.89 on Friday. Trane Technologies plc has a 52 week low of $348.06 and a 52 week high of $503.47. The business has a fifty day simple moving average of $462.86 and a 200-day simple moving average of $432.97. The firm has a market cap of $101.66 billion, a P/E ratio of 35.57, a P/E/G ratio of 2.07 and a beta of 1.20. The company has a quick ratio of 0.77, a current ratio of 1.10 and a debt-to-equity ratio of 0.46.

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

Trane Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 4th will be paid 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 (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.