Kesler Norman & Wride LLC Increases Stock Holdings in Trane Technologies plc $TT

Kesler Norman & Wride LLC raised its position in Trane Technologies plc (NYSE:TT) by 108.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,718 shares of the company’s stock after acquiring an additional 1,411 shares during the quarter. Kesler Norman & Wride LLC’s holdings in Trane Technologies were worth $1,058,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of TT. Tucker Asset Management LLC purchased a new stake in Trane Technologies during the 4th quarter worth approximately $25,000. United Community Bank boosted its position in Trane Technologies by 134.4% in the 3rd quarter. United Community Bank now owns 75 shares of the company’s stock valued at $32,000 after buying an additional 43 shares during the period. JPL Wealth Management LLC purchased a new position in Trane Technologies in the 3rd quarter valued at approximately $32,000. Creative Financial Designs Inc. ADV grew its stake in shares of Trane Technologies by 119.5% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 90 shares of the company’s stock worth $35,000 after acquiring an additional 49 shares in the last quarter. Finally, KERR FINANCIAL PLANNING Corp purchased a new stake in shares of Trane Technologies during the third quarter worth $42,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Trane Technologies Stock Performance

NYSE:TT opened at $465.72 on Thursday. Trane Technologies plc has a 12 month low of $348.06 and a 12 month 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 firm has a market capitalization of $102.95 billion, a PE ratio of 36.02, a price-to-earnings-growth ratio of 2.11 and a beta of 1.20. The business’s fifty day moving average price is $457.72 and its 200 day moving average price is $430.83.

Trane Technologies (NYSE:TT) last announced 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. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The company had revenue of $4.97 billion during the quarter, compared to the consensus estimate of $4.81 billion. During the same period in the previous year, the business earned $2.45 EPS. Trane Technologies’s revenue for the quarter was up 6.0% on a year-over-year basis. On average, sell-side analysts anticipate that Trane Technologies plc will post 14.88 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

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

Insider Activity at Trane Technologies

In other news, CEO David S. Regnery sold 36,045 shares of the company’s stock in a transaction on Friday, March 6th. The shares were sold at an average price of $422.69, for a total value of $15,235,861.05. Following the completion of the transaction, the chief executive officer owned 96,948 shares in the company, valued at approximately $40,978,950.12. This represents a 27.10% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Elizabeth A. Elwell sold 635 shares of the stock in a transaction on Friday, March 6th. The shares were sold at an average price of $422.70, for a total transaction of $268,414.50. Following the completion of the transaction, the chief accounting officer directly owned 7,100 shares in the company, valued at $3,001,170. This trade represents a 8.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 53,654 shares of company stock valued at $23,269,523. Company insiders own 0.43% of the company’s stock.

Wall Street Analyst Weigh In

TT has been the subject of a number of recent research reports. Royal Bank Of Canada lifted their target price on Trane Technologies from $440.00 to $501.00 and gave the company a “sector perform” rating in a report on Friday, May 1st. Citigroup upped their price target on Trane Technologies from $525.00 to $570.00 and gave the stock a “buy” rating in a report on Friday, May 1st. KeyCorp lifted their price objective on Trane Technologies from $525.00 to $555.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. JPMorgan Chase & Co. boosted their price objective on Trane Technologies from $460.00 to $476.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Trane Technologies in a research note on Monday, April 20th. One equities research 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 given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $506.56.

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.