Saranac Partners Ltd Makes New Investment in Trane Technologies plc $TT

Saranac Partners Ltd acquired a new stake in shares of Trane Technologies plc (NYSE:TT) in the third quarter, Holdings Channel reports. The fund acquired 12,490 shares of the company’s stock, valued at approximately $5,254,000.

Several other institutional investors have also made changes to their positions in the company. Brighton Jones LLC raised its holdings in shares of Trane Technologies by 60.0% during the fourth quarter. Brighton Jones LLC now owns 6,194 shares of the company’s stock valued at $2,288,000 after acquiring an additional 2,323 shares during the period. Sivia Capital Partners LLC lifted its position in shares of Trane Technologies by 22.4% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,665 shares of the company’s stock valued at $728,000 after acquiring an additional 305 shares in the last quarter. Schnieders Capital Management LLC. acquired a new position in Trane Technologies in the 2nd quarter worth approximately $227,000. Rockefeller Capital Management L.P. grew its position in Trane Technologies by 7.4% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 27,909 shares of the company’s stock worth $12,208,000 after purchasing an additional 1,934 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its stake in Trane Technologies by 4.7% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 75,011 shares of the company’s stock valued at $32,811,000 after purchasing an additional 3,347 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Morgan Stanley reduced their target price on Trane Technologies from $550.00 to $535.00 and set an “overweight” rating for the company in a report on Tuesday, January 13th. KeyCorp raised Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 price target on the stock in a research report on Monday, December 15th. Oppenheimer increased their price objective on Trane Technologies from $460.00 to $468.00 and gave the stock an “outperform” rating in a research note on Friday, January 30th. Melius Research upgraded Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 price objective for the company in a research report on Wednesday, January 7th. Finally, UBS Group lowered their target price on Trane Technologies from $544.00 to $520.00 and set a “buy” rating on the stock in a research note on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $484.67.

Trane Technologies Trading Up 0.3%

Trane Technologies stock opened at $426.66 on Thursday. Trane Technologies plc has a 12 month low of $298.15 and a 12 month high of $479.37. The company has a quick ratio of 0.92, a current ratio of 1.25 and a debt-to-equity ratio of 0.46. The stock has a market cap of $94.43 billion, a P/E ratio of 32.87, a P/E/G ratio of 2.24 and a beta of 1.19. The company’s fifty day simple moving average is $428.78 and its 200-day simple moving average is $417.24.

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

Trane Technologies Increases Dividend

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

Insider Transactions at Trane Technologies

In related news, CFO Christopher J. Kuehn sold 2,389 shares of the business’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $462.70, for a total transaction of $1,105,390.30. Following the transaction, the chief financial officer owned 60,486 shares of the company’s stock, valued at approximately $27,986,872.20. The trade was a 3.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO David S. Regnery sold 36,045 shares of the firm’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $422.69, for a total transaction of $15,235,861.05. Following the transaction, the chief executive officer owned 96,948 shares of the company’s stock, valued at approximately $40,978,950.12. This represents a 27.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 49,378 shares of company stock valued at $21,228,464 in the last quarter. Corporate insiders own 0.14% of the company’s stock.

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.