Progressive Investment Management Corp Acquires 5,381 Shares of Trane Technologies plc $TT

Progressive Investment Management Corp raised its holdings in Trane Technologies plc (NYSE:TT) by 39.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 18,945 shares of the company’s stock after purchasing an additional 5,381 shares during the quarter. Trane Technologies accounts for about 1.8% of Progressive Investment Management Corp’s holdings, making the stock its 21st biggest position. Progressive Investment Management Corp’s holdings in Trane Technologies were worth $7,373,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently made changes to their positions in the company. Tucker Asset Management LLC bought a new position in shares of Trane Technologies during the fourth quarter worth approximately $25,000. JPL Wealth Management LLC bought a new position in shares of Trane Technologies during the third quarter worth approximately $32,000. Hilton Head Capital Partners LLC bought a new position in shares of Trane Technologies during the fourth quarter worth approximately $32,000. Creative Financial Designs Inc. ADV increased its stake in shares of Trane Technologies by 119.5% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 90 shares of the company’s stock worth $35,000 after purchasing an additional 49 shares during the period. Finally, KERR FINANCIAL PLANNING Corp bought a new position in shares of Trane Technologies during the third quarter worth approximately $42,000. Institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

TT has been the topic of a number of recent research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Trane Technologies in a research note on Monday, April 20th. Barclays increased their target price on 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 note on Tuesday, June 9th. They set an “outperform” rating and a $550.00 target price on the stock. Evercore initiated coverage on Trane Technologies in a research note on Monday, April 13th. They set an “outperform” rating and a $535.00 target price on the stock. Finally, Royal Bank Of Canada increased their target price on Trane Technologies from $440.00 to $501.00 and gave the stock a “sector perform” rating in a research note on Friday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $509.12.

Insider Buying and Selling

In other Trane Technologies news, CFO Christopher J. Kuehn sold 8,619 shares of the firm’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 sale, the chief financial officer owned 60,576 shares of the company’s stock, valued at approximately $27,259,200. This trade represents a 12.46% decrease in their position. The sale 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 on Thursday, April 30th. The shares were 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 position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.43% of the company’s stock.

Trane Technologies Trading Down 0.1%

Shares of NYSE:TT opened at $457.69 on Monday. The company has a market capitalization of $101.17 billion, a P/E ratio of 35.40, a P/E/G ratio of 2.11 and a beta of 1.20. Trane Technologies plc has a 1 year low of $348.06 and a 1 year 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 business’s 50 day simple moving average is $463.44 and its 200 day simple moving average is $433.30.

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 analysts’ consensus estimates of $2.53 by $0.10. The business had revenue of $4.97 billion for the quarter, compared to the consensus estimate of $4.81 billion. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.45 earnings per share. On average, research analysts anticipate that Trane Technologies plc will post 14.88 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 4th will be given 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 yield of 0.9%. Trane Technologies’s dividend payout ratio is currently 32.48%.

Trane Technologies Company 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.