Stance Capital LLC Invests $2.58 Million in Trane Technologies plc $TT

Stance Capital LLC purchased a new position in Trane Technologies plc (NYSE:TT) during the fourth quarter, HoldingsChannel reports. The fund purchased 6,634 shares of the company’s stock, valued at approximately $2,582,000.

Several other hedge funds have also recently bought and sold shares of TT. Tucker Asset Management LLC acquired a new stake in Trane Technologies in the fourth quarter valued at $25,000. Hilton Head Capital Partners LLC acquired a new position in shares of Trane Technologies during the 4th quarter worth $32,000. JPL Wealth Management LLC purchased a new stake in shares of Trane Technologies in the 3rd quarter worth about $32,000. Kemnay Advisory Services Inc. acquired a new stake in Trane Technologies in the 4th quarter valued at about $34,000. Finally, Creative Financial Designs Inc. ADV grew its stake in 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 acquiring an additional 49 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Stock Performance

Shares of NYSE TT opened at $483.88 on Friday. The company has a market cap of $106.96 billion, a PE ratio of 37.42, a price-to-earnings-growth ratio of 2.23 and a beta of 1.20. Trane Technologies plc has a 12 month low of $348.06 and a 12 month high of $503.47. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.10 and a quick ratio of 0.77. The company has a 50-day simple moving average of $467.88 and a 200-day simple moving average of $435.22.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Friday, May 1st. The company reported $2.63 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $4.81 billion. During the same quarter in the prior year, the firm posted $2.45 earnings per share. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. On average, equities analysts anticipate that Trane Technologies plc will post 14.88 earnings per share for the current year.

Trane Technologies Dividend Announcement

The firm also recently declared 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. This represents a $4.20 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, September 4th. Trane Technologies’s dividend payout ratio is currently 32.48%.

Insider Buying and Selling at Trane Technologies

In related news, CFO Christopher J. Kuehn sold 8,619 shares of the company’s stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $450.00, for a total value 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 represents a 12.46% 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, insider Donald E. Simmons sold 4,593 shares of the firm’s stock in a transaction dated 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. The trade was a 54.60% decrease in their ownership of the stock. 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 owned by company insiders.

Wall Street Analyst Weigh In

TT has been the subject of a number of research reports. KeyCorp lifted their target price on shares of Trane Technologies from $525.00 to $555.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Barclays raised their price objective on shares of Trane Technologies from $507.00 to $585.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Sanford C. Bernstein initiated coverage on Trane Technologies in a research report on Tuesday, June 9th. They set an “outperform” rating and a $550.00 price objective for the company. JPMorgan Chase & Co. increased their target price on Trane Technologies from $460.00 to $476.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Trane Technologies in a research report on Monday, April 20th. Two research 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 assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus 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.