Chicago Partners Investment Group LLC Buys 1,918 Shares of Trane Technologies plc $TT

Chicago Partners Investment Group LLC increased its position in Trane Technologies plc (NYSE:TT) by 46.1% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,077 shares of the company’s stock after purchasing an additional 1,918 shares during the period. Chicago Partners Investment Group LLC’s holdings in Trane Technologies were worth $2,704,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Caldwell Trust Co raised its position in shares of Trane Technologies by 12.2% during the 3rd quarter. Caldwell Trust Co now owns 7,571 shares of the company’s stock valued at $3,422,000 after acquiring an additional 824 shares in the last quarter. 3Chopt Investment Partners LLC boosted its holdings in Trane Technologies by 20.9% in the third quarter. 3Chopt Investment Partners LLC now owns 1,147 shares of the company’s stock worth $518,000 after purchasing an additional 198 shares during the period. Compass Financial Management LLC acquired a new position in Trane Technologies in the third quarter worth $92,000. Rakuten Investment Management Inc. bought a new stake in Trane Technologies during the third quarter valued at $18,023,000. Finally, Provenance Wealth Advisors LLC increased its stake in Trane Technologies by 5,542.9% during the third quarter. Provenance Wealth Advisors LLC now owns 790 shares of the company’s stock valued at $357,000 after purchasing an additional 776 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Insider Buying and Selling at Trane Technologies

In related news, CEO David Regnery sold 48,091 shares of the firm’s stock in a transaction dated Tuesday, October 6th. The stock was sold at an average price of $480.00, for a total transaction of $23,083,680.00. Following the completion of the transaction, the chief executive officer owned 96,951 shares of the company’s stock, valued at $46,536,480. This trade represents a 33.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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 traded up $9.55 during trading hours on Friday, reaching $401.98. 1,956,771 shares of the company’s stock traded hands, compared to its average volume of 1,498,863. Trane Technologies plc has a twelve month low of $348.06 and a twelve month high of $505.87. The business’s fifty day simple moving average is $445.69 and its two-hundred day simple moving average is $454.46. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.12 and a quick ratio of 0.79. The firm has a market capitalization of $87.99 billion, a price-to-earnings ratio of 28.39, a P/E/G ratio of 1.94 and a beta of 1.19.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Thursday, October 29th. The company reported $4.86 EPS for the quarter, topping analysts’ consensus estimates of $4.74 by $0.12. The company had revenue of $6.76 billion for the quarter, compared to the consensus estimate of $6.50 billion. Trane Technologies had a net margin of 13.56% and a return on equity of 37.26%. Trane Technologies’s revenue was up 17.7% on a year-over-year basis. During the same period in the previous year, the firm earned $3.88 EPS. Analysts predict that Trane Technologies plc will post 15.29 earnings per share for the current year.

Trane Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Friday, December 4th will be issued a $1.05 dividend. The ex-dividend date is Friday, December 4th. This represents a $4.20 annualized dividend and a dividend yield of 1.0%. Trane Technologies’s dividend payout ratio is 29.66%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on TT shares. Wall Street Zen upgraded shares of Trane Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, October 31st. Weiss Ratings raised shares of Trane Technologies from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, September 10th. Wells Fargo & Company assumed coverage on shares of Trane Technologies in a research note on Friday, September 25th. They set an “overweight” rating and a $536.00 price objective on the stock. The Goldman Sachs Group raised shares of Trane Technologies from a “neutral” rating to a “buy” rating and raised their target price for the stock from $548.00 to $565.00 in a report on Wednesday, October 14th. Finally, JPMorgan Chase & Co. began coverage on Trane Technologies in a research note on Friday, October 9th. They issued an “overweight” rating and a $550.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $535.89.

About Trane Technologies

Trane Technologies plc is a global climate innovator that designs, manufactures, and services heating, ventilation, air conditioning, and refrigeration systems. Its products and services support commercial buildings, homes, and transportation applications, including temperature-controlled shipping.

The company’s portfolio includes the Trane brand of HVAC systems and building services, as well as Thermo King equipment for transport refrigeration and climate control. It also offers building controls, energy-efficiency solutions, system maintenance, and related services.

Trane Technologies was formed in 2020 when Ingersoll Rand completed the spin-off of its industrial businesses and adopted the Trane Technologies name.