Mattern Capital Management LLC Makes New Investment in Trane Technologies plc $TT

Mattern Capital Management LLC purchased a new stake in shares of Trane Technologies plc (NYSE:TT) in the 1st quarter, HoldingsChannel reports. The fund purchased 23,635 shares of the company’s stock, valued at approximately $9,850,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Archer Investment Corp raised its stake in shares of Trane Technologies by 232.4% during the 1st quarter. Archer Investment Corp now owns 123 shares of the company’s stock worth $51,000 after acquiring an additional 86 shares in the last quarter. TFR Capital LLC. boosted its stake in Trane Technologies by 0.8% in the first quarter. TFR Capital LLC. now owns 4,792 shares of the company’s stock valued at $1,997,000 after acquiring an additional 38 shares in the last quarter. Chicago Partners Investment Group LLC grew its holdings in Trane Technologies by 2.7% in the first quarter. Chicago Partners Investment Group LLC now owns 3,179 shares of the company’s stock worth $1,325,000 after purchasing an additional 84 shares during the last quarter. Gratus Wealth Advisors LLC increased its position in shares of Trane Technologies by 6.1% during the first quarter. Gratus Wealth Advisors LLC now owns 2,181 shares of the company’s stock worth $909,000 after purchasing an additional 125 shares in the last quarter. Finally, J. Safra Sarasin Holding AG increased its position in shares of Trane Technologies by 30.7% during the first quarter. J. Safra Sarasin Holding AG now owns 68,280 shares of the company’s stock worth $28,403,000 after purchasing an additional 16,054 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on TT. Barclays upped their target price on Trane Technologies from $507.00 to $585.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Evercore initiated coverage on Trane Technologies in a research note on Monday, April 13th. They set an “outperform” rating and a $535.00 price target on the stock. KeyCorp upped their price objective on shares of Trane Technologies from $525.00 to $555.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Citigroup increased their price objective 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. Finally, Sanford C. Bernstein set a $555.00 target price on shares of Trane Technologies in a research note on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $512.50.

Insider Activity

In other news, insider Donald E. Simmons sold 4,593 shares of the business’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $500.00, for a total transaction of $2,296,500.00. Following the completion of the sale, the insider owned 3,819 shares of the company’s stock, valued at $1,909,500. The trade was a 54.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 Trading Down 0.0%

Shares of NYSE:TT opened at $479.67 on Tuesday. 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 business has a 50 day moving average of $469.76 and a two-hundred day moving average of $444.99. Trane Technologies plc has a 12-month low of $348.06 and a 12-month high of $505.87. The company has a market capitalization of $106.03 billion, a PE ratio of 37.10, a PEG ratio of 2.21 and a beta of 1.19.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Friday, May 1st. The company reported $2.63 EPS for the quarter, beating the consensus estimate of $2.53 by $0.10. The company had revenue of $4.97 billion for the quarter, compared to analyst estimates of $4.81 billion. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The firm’s revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the business earned $2.45 earnings per share. As a group, analysts forecast that Trane Technologies plc will post 14.9 EPS for the current year.

Trane Technologies Announces Dividend

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

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.