Applied Finance Capital Management LLC Buys Shares of 2,331 Trane Technologies plc $TT

Applied Finance Capital Management LLC acquired a new stake in Trane Technologies plc (NYSE:TT) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 2,331 shares of the company’s stock, valued at approximately $907,000.

A number of other hedge funds have also made changes to their positions in the business. United Community Bank raised its holdings in Trane Technologies by 134.4% during the third quarter. United Community Bank now owns 75 shares of the company’s stock worth $32,000 after purchasing an additional 43 shares in the last quarter. JPL Wealth Management LLC acquired a new stake in shares of Trane Technologies during the 3rd quarter worth $32,000. KERR FINANCIAL PLANNING Corp purchased a new stake in shares of Trane Technologies during the 3rd quarter valued at about $42,000. Hantz Financial Services Inc. lifted its stake in shares of Trane Technologies by 58.2% in the third quarter. Hantz Financial Services Inc. now owns 106 shares of the company’s stock worth $45,000 after acquiring an additional 39 shares in the last quarter. Finally, Key Financial Inc grew its position in shares of Trane Technologies by 833.3% in the 3rd quarter. Key Financial Inc now owns 112 shares of the company’s stock worth $48,000 after acquiring an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Down 3.1%

Trane Technologies stock opened at $466.65 on Friday. The company has a current ratio of 1.10, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46. Trane Technologies plc has a 1-year low of $348.06 and a 1-year high of $503.47. The firm has a market capitalization of $103.15 billion, a price-to-earnings ratio of 36.09, a P/E/G ratio of 2.22 and a beta of 1.25. The firm has a 50 day simple moving average of $450.17 and a 200 day simple moving average of $428.86.

Trane Technologies (NYSE:TT) last announced its earnings results on Friday, May 1st. The company reported $2.63 earnings per share 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 in the prior year, the company earned $2.45 EPS. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. On average, analysts predict that Trane Technologies plc will post 14.87 earnings per share for the current year.

Trane Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th will be paid a dividend of $1.05 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $4.20 annualized dividend and a dividend yield of 0.9%. Trane Technologies’s payout ratio is 32.48%.

Insiders Place Their Bets

In related news, CFO Christopher J. Kuehn sold 8,619 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief financial officer owned 60,576 shares in the company, valued at $27,259,200. This represents a 12.46% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Elizabeth A. Elwell sold 635 shares of the firm’s stock in a transaction on Friday, March 6th. The stock was sold at an average price of $422.70, for a total value of $268,414.50. Following the completion of the sale, the chief accounting officer directly owned 7,100 shares of the company’s stock, valued at $3,001,170. The trade was a 8.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 53,654 shares of company stock valued at $23,269,523 over the last three months. 0.14% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. increased their price target on Trane Technologies from $460.00 to $476.00 and gave the stock a “neutral” rating in a research note on Thursday. Wells Fargo & Company lifted their price target on shares of Trane Technologies from $375.00 to $400.00 and gave the company an “underweight” rating in a research report on Friday, January 30th. Barclays raised their price objective on Trane Technologies from $507.00 to $585.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. BNP Paribas Exane started coverage on Trane Technologies in a report on Tuesday, April 14th. They issued an “outperform” rating and a $550.00 price objective for the company. Finally, Evercore began coverage on Trane Technologies in a research report on Monday, April 13th. They set an “outperform” rating and a $535.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $506.56.

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.