Neo Ivy Capital Management Makes New Investment in Trane Technologies plc $TT

Neo Ivy Capital Management purchased a new stake in Trane Technologies plc (NYSE:TT) in the 3rd quarter, HoldingsChannel reports. The fund purchased 4,740 shares of the company’s stock, valued at approximately $2,000,000.

Other institutional investors have also recently made changes to their positions in the company. Financial Consulate Inc. acquired a new stake in shares of Trane Technologies in the 3rd quarter valued at about $25,000. Icon Advisers Inc. Co. bought a new stake in Trane Technologies in the 2nd quarter valued at about $26,000. Hantz Financial Services Inc. raised its stake in Trane Technologies by 1,016.7% during the 2nd quarter. Hantz Financial Services Inc. now owns 67 shares of the company’s stock worth $29,000 after buying an additional 61 shares during the period. United Community Bank boosted its holdings in Trane Technologies by 134.4% in the third quarter. United Community Bank now owns 75 shares of the company’s stock worth $32,000 after acquiring an additional 43 shares in the last quarter. Finally, Halbert Hargrove Global Advisors LLC grew its stake in Trane Technologies by 34.2% in the third quarter. Halbert Hargrove Global Advisors LLC now owns 102 shares of the company’s stock valued at $43,000 after acquiring an additional 26 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Stock Down 3.1%

Shares of NYSE:TT opened at $423.04 on Friday. The company has a market capitalization of $93.63 billion, a PE ratio of 32.59, a price-to-earnings-growth ratio of 2.30 and a beta of 1.19. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.92. The business has a fifty day moving average price of $422.75 and a two-hundred day moving average price of $417.13. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $479.37.

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

Trane Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 6th will be issued a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a yield of 1.0%. This is a boost from Trane Technologies’s previous quarterly dividend of $0.94. The ex-dividend date is Friday, March 6th. Trane Technologies’s dividend payout ratio is 28.97%.

Insider Activity at Trane Technologies

In other news, CFO Christopher J. Kuehn sold 2,389 shares of the firm’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $462.70, for a total transaction of $1,105,390.30. Following the completion of the sale, the chief financial officer owned 60,486 shares in the company, valued at $27,986,872.20. This trade represents a 3.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Donald E. Simmons sold 822 shares of Trane Technologies stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $462.57, for a total transaction of $380,232.54. Following the completion of the sale, the insider directly owned 3,819 shares in the company, valued at $1,766,554.83. This trade represents a 17.71% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 8,936 shares of company stock worth $4,133,991. Insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on TT shares. JPMorgan Chase & Co. boosted their price objective on Trane Technologies from $434.00 to $460.00 and gave the company a “neutral” rating in a report on Friday, January 30th. Morgan Stanley reduced their price target on shares of Trane Technologies from $550.00 to $535.00 and set an “overweight” rating for the company in a research report on Tuesday, January 13th. Barclays boosted their price target on shares of Trane Technologies from $505.00 to $507.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. Oppenheimer raised their price objective on shares of Trane Technologies from $460.00 to $468.00 and gave the company an “outperform” rating in a research note on Friday, January 30th. Finally, Bank of America upgraded shares of Trane Technologies from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $490.00 to $550.00 in a report on Thursday, November 13th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $484.67.

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.