Elevation Point Wealth Partners LLC Makes New Investment in Trane Technologies plc $TT

Elevation Point Wealth Partners LLC acquired a new stake in shares of Trane Technologies plc (NYSE:TT) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 3,082 shares of the company’s stock, valued at approximately $1,301,000.

Other hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new position in Trane Technologies during the second quarter valued at approximately $1,356,065,000. JPMorgan Chase & Co. boosted its position in Trane Technologies by 10.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 15,525,010 shares of the company’s stock worth $6,550,975,000 after purchasing an additional 1,433,563 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in shares of Trane Technologies by 229.3% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,752,551 shares of the company’s stock worth $766,583,000 after purchasing an additional 1,220,388 shares during the period. ABN AMRO Bank N.V. acquired a new stake in shares of Trane Technologies during the 2nd quarter worth approximately $291,206,000. Finally, Corient Private Wealth LLC increased its holdings in shares of Trane Technologies by 135.4% during the 2nd quarter. Corient Private Wealth LLC now owns 735,589 shares of the company’s stock valued at $321,757,000 after purchasing an additional 423,090 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Transactions at Trane Technologies

In other Trane Technologies news, insider Donald E. Simmons sold 3,762 shares of the stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $422.70, for a total transaction of $1,590,197.40. Following the completion of the transaction, the insider owned 3,819 shares of the company’s stock, valued at $1,614,291.30. This represents a 49.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Elizabeth A. Elwell sold 635 shares of the firm’s stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $422.70, for a total value of $268,414.50. Following the completion of the transaction, the chief accounting officer owned 7,100 shares in the company, valued at approximately $3,001,170. This trade represents a 8.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 49,378 shares of company stock valued at $21,228,464 in the last 90 days. Corporate insiders own 0.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Morgan Stanley lowered their price target on shares of Trane Technologies from $550.00 to $535.00 and set an “overweight” rating on the stock in a report on Tuesday, January 13th. Barclays upped their price objective on shares of Trane Technologies from $505.00 to $507.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. Wells Fargo & Company raised their target price on Trane Technologies from $375.00 to $400.00 and gave the company an “underweight” rating in a research report on Friday, January 30th. UBS Group cut their price target on Trane Technologies from $544.00 to $520.00 and set a “buy” rating for the company in a research note on Monday, January 5th. Finally, JPMorgan Chase & Co. upped their price target on Trane Technologies from $434.00 to $460.00 and gave the stock a “neutral” rating in a report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $484.67.

Trane Technologies Stock Performance

NYSE:TT opened at $421.48 on Tuesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.25. The stock has a market capitalization of $93.29 billion, a PE ratio of 32.47, a P/E/G ratio of 2.22 and a beta of 1.19. Trane Technologies plc has a fifty-two week low of $298.15 and a fifty-two week high of $479.37. The company has a fifty day moving average of $426.89 and a two-hundred day moving average of $417.11.

Trane Technologies (NYSE:TT) last announced its earnings results on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.81 by $0.05. Trane Technologies had a net margin of 13.69% and a return on equity of 36.34%. The business had revenue of $5.14 billion for the quarter, compared to analyst estimates of $5.09 billion. During the same quarter last year, the business earned $2.61 earnings per share. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. As a group, research analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 6th will be paid a dividend of $1.05 per share. This is an increase from Trane Technologies’s previous quarterly dividend of $0.94. The ex-dividend date is Friday, March 6th. This represents a $4.20 annualized dividend and a yield of 1.0%. Trane Technologies’s dividend payout ratio (DPR) is presently 32.36%.

About Trane Technologies

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.