Kathmere Capital Management LLC Acquires 1,549 Shares of Trane Technologies plc $TT

Kathmere Capital Management LLC increased its stake in shares of Trane Technologies plc (NYSE:TT) by 149.4% during the 1st quarter, Holdings Channel reports. The fund owned 2,586 shares of the company’s stock after acquiring an additional 1,549 shares during the period. Kathmere Capital Management LLC’s holdings in Trane Technologies were worth $1,078,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. 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 purchasing an additional 2,323 shares during the period. Sivia Capital Partners LLC raised its stake in Trane Technologies by 22.4% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,665 shares of the company’s stock worth $728,000 after buying an additional 305 shares during the period. Schnieders Capital Management LLC. bought a new position in Trane Technologies in the second quarter worth approximately $227,000. Nebula Research & Development LLC grew its stake in Trane Technologies by 178.0% in the second quarter. Nebula Research & Development LLC now owns 2,371 shares of the company’s stock valued at $1,037,000 after acquiring an additional 1,518 shares during the period. Finally, Treasurer of the State of North Carolina increased its holdings in shares of Trane Technologies by 0.5% during the second quarter. Treasurer of the State of North Carolina now owns 104,140 shares of the company’s stock valued at $45,552,000 after acquiring an additional 497 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Donald E. Simmons sold 4,593 shares of the 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 transaction, the insider owned 3,819 shares in the company, valued at approximately $1,909,500. This represents a 54.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Christopher J. Kuehn sold 8,619 shares of Trane Technologies stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $450.00, for a total transaction of $3,878,550.00. Following the completion of the sale, 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 position. 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 currently owned by corporate insiders.

Trane Technologies Stock Performance

Shares of NYSE TT traded down $18.80 during midday trading on Tuesday, reaching $468.44. The company’s stock had a trading volume of 161,176 shares, compared to its average volume of 1,486,254. The stock has a market capitalization of $103.55 billion, a P/E ratio of 36.13, a PEG ratio of 2.20 and a beta of 1.19. 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 firm has a 50 day moving average price of $470.69 and a 200-day moving average price of $441.25. Trane Technologies plc has a 12-month low of $348.06 and a 12-month high of $505.87.

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

Trane Technologies Dividend Announcement

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 issued a $1.05 dividend. 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 payout ratio is 32.48%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TT. KeyCorp boosted their price target on shares of Trane Technologies from $525.00 to $555.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. BNP Paribas Exane initiated coverage on Trane Technologies in a report on Tuesday, April 14th. They set an “outperform” rating and a $550.00 price objective for the company. Citigroup lifted their target price on Trane Technologies from $525.00 to $570.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Sanford C. Bernstein started coverage on Trane Technologies in a report on Tuesday, June 9th. They set an “outperform” rating and a $550.00 price target for the company. Finally, Evercore started coverage on Trane Technologies in a research note on Monday, April 13th. They set an “outperform” rating and a $535.00 price objective on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Trane Technologies currently has a consensus 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.