CGN Advisors LLC Purchases New Holdings in Trane Technologies plc $TT

CGN Advisors LLC acquired a new position in Trane Technologies plc (NYSE:TT) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 3,099 shares of the company’s stock, valued at approximately $1,206,000.

Several other large investors have also modified their holdings of the business. Aptus Capital Advisors LLC lifted its position in shares of Trane Technologies by 169.8% during the third quarter. Aptus Capital Advisors LLC now owns 14,738 shares of the company’s stock worth $6,219,000 after purchasing an additional 9,276 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of Trane Technologies in the third quarter worth about $6,571,000. Nordea Investment Management AB increased its stake in Trane Technologies by 2.4% in the 3rd quarter. Nordea Investment Management AB now owns 2,513,508 shares of the company’s stock worth $1,051,049,000 after buying an additional 57,774 shares during the period. Boston Common Asset Management LLC purchased a new position in Trane Technologies in the 3rd quarter worth about $9,546,000. Finally, Compass Wealth Management LLC lifted its holdings in Trane Technologies by 3,785.4% during the 3rd quarter. Compass Wealth Management LLC now owns 27,198 shares of the company’s stock valued at $11,476,000 after buying an additional 26,498 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Price Performance

Shares of TT opened at $410.35 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.25. The company has a 50 day moving average price of $430.25 and a 200-day moving average price of $417.25. Trane Technologies plc has a fifty-two week low of $298.15 and a fifty-two week high of $479.37. The stock has a market capitalization of $90.82 billion, a PE ratio of 31.61, a PEG ratio of 2.23 and a beta of 1.19.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.81 by $0.05. The company had revenue of $5.14 billion for the quarter, compared to analyst estimates of $5.09 billion. Trane Technologies had a net margin of 13.69% and a return on equity of 36.34%. Trane Technologies’s revenue was up 5.6% compared to the same quarter last year. During the same period last year, the company posted $2.61 earnings per share. Equities analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 6th will be issued a $1.05 dividend. The ex-dividend date is Friday, March 6th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 1.0%. This is a boost from Trane Technologies’s previous quarterly dividend of $0.94. Trane Technologies’s dividend payout ratio (DPR) is 32.36%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Morgan Stanley dropped their target price on shares of Trane Technologies from $550.00 to $535.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 13th. Citigroup lifted their price target on shares of Trane Technologies from $513.00 to $525.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Royal Bank Of Canada increased their price objective on Trane Technologies from $469.00 to $470.00 and gave the stock a “sector perform” rating in a research note on Friday, January 30th. Weiss Ratings restated a “buy (b)” rating on shares of Trane Technologies in a report on Wednesday, January 21st. Finally, JPMorgan Chase & Co. lifted their target price on Trane Technologies from $434.00 to $460.00 and gave the company a “neutral” rating in a research report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $484.67.

Insider Buying and Selling

In related news, insider Donald E. Simmons sold 3,762 shares of the company’s stock in a transaction on Friday, March 6th. The stock was sold at an average price of $422.70, for a total transaction of $1,590,197.40. Following the completion of the sale, the insider directly owned 3,819 shares in the company, valued at $1,614,291.30. This represents a 49.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO David S. Regnery sold 36,045 shares of the firm’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $422.69, for a total value of $15,235,861.05. Following the sale, the chief executive officer directly owned 96,948 shares in the company, valued at approximately $40,978,950.12. The trade was a 27.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 49,378 shares of company stock valued at $21,228,464. 0.14% of the stock is currently owned by insiders.

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.