Elevation Point Wealth Partners LLC Boosts Stock Position in Trane Technologies plc $TT

Elevation Point Wealth Partners LLC increased its holdings in Trane Technologies plc (NYSE:TT) by 56.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,216 shares of the company’s stock after purchasing an additional 1,887 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in Trane Technologies were worth $2,174,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Trane Technologies by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 20,020,321 shares of the company’s stock valued at $7,791,909,000 after buying an additional 192,270 shares during the period. State Street Corp lifted its stake in Trane Technologies by 0.6% in the fourth quarter. State Street Corp now owns 10,113,123 shares of the company’s stock worth $3,936,034,000 after acquiring an additional 61,393 shares during the period. Geode Capital Management LLC boosted its holdings in Trane Technologies by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 5,071,072 shares of the company’s stock valued at $1,964,896,000 after acquiring an additional 14,179 shares in the last quarter. Norges Bank bought a new stake in Trane Technologies in the fourth quarter valued at $1,163,124,000. Finally, Nordea Investment Management AB increased its position in Trane Technologies by 2.9% during the 4th quarter. Nordea Investment Management AB now owns 2,586,506 shares of the company’s stock valued at $1,010,419,000 after purchasing an additional 72,998 shares during the period. Institutional investors own 82.97% of the company’s stock.

Insider Activity at Trane Technologies

In other news, CFO Christopher J. Kuehn sold 8,619 shares of Trane Technologies 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 in the company, valued at approximately $27,259,200. This trade represents a 12.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Donald E. Simmons sold 4,593 shares of the business’s 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 completion of 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 ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is currently owned by company insiders.

Trane Technologies Stock Performance

Shares of TT stock opened at $477.76 on Friday. Trane Technologies plc has a 12 month low of $348.06 and a 12 month high of $505.87. The stock has a market cap of $105.61 billion, a PE ratio of 36.95, a price-to-earnings-growth ratio of 2.20 and a beta of 1.19. 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 company’s fifty day moving average price is $470.69 and its 200-day moving average price is $440.93.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Friday, May 1st. The company reported $2.63 earnings per share (EPS) 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 company 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 earned $2.45 EPS. Trane Technologies’s quarterly revenue was up 6.0% compared to the same quarter last year. On average, equities analysts expect that Trane Technologies plc will post 14.9 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, September 4th will be paid a dividend of $1.05 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 0.9%. Trane Technologies’s dividend payout ratio (DPR) is currently 32.48%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on TT shares. KeyCorp upped their price objective on shares of Trane Technologies from $525.00 to $555.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Citigroup boosted their price target on shares of Trane Technologies from $525.00 to $570.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Royal Bank Of Canada increased their price target on shares of Trane Technologies from $440.00 to $501.00 and gave the stock a “sector perform” rating in a research note on Friday, May 1st. BNP Paribas Exane initiated coverage on shares of Trane Technologies in a report on Tuesday, April 14th. They issued an “outperform” rating and a $550.00 price objective for the company. Finally, JPMorgan Chase & Co. lifted their price objective on Trane Technologies from $460.00 to $476.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Trane Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $509.12.

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.