Purkiss Capital Advisors LLC Takes Position in Trane Technologies plc (NYSE:TT)

Key Points

• Purkiss Capital Advisors LLC purchased 660 shares of Trane Technologies, valued at approximately $222,000, marking the firm's entry into the stock during the first quarter.
• Trane Technologies reported a quarterly earnings per share (EPS) of $2.45, exceeding analysts' estimates of $2.20, with a year-over-year revenue increase of 11.2% to $4.69 billion.
• The company declared a quarterly dividend of $0.94 per share, with a payout ratio of 31.28%, to be distributed on September 30th, targeting stockholders of record by September 5th.

Purkiss Capital Advisors LLC acquired a new position in shares of Trane Technologies plc (NYSE:TT - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 660 shares of the company's stock, valued at approximately $222,000.

Other hedge funds have also made changes to their positions in the company. Geode Capital Management LLC increased its position in shares of Trane Technologies by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 4,775,263 shares of the company's stock worth $1,760,549,000 after acquiring an additional 136,349 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of Trane Technologies by 4.1% during the fourth quarter. Ameriprise Financial Inc. now owns 3,343,390 shares of the company's stock worth $1,234,908,000 after acquiring an additional 130,867 shares during the last quarter. Northern Trust Corp increased its position in shares of Trane Technologies by 20.1% during the fourth quarter. Northern Trust Corp now owns 2,567,527 shares of the company's stock worth $948,316,000 after acquiring an additional 429,953 shares during the last quarter. Nuveen Asset Management LLC grew its stake in Trane Technologies by 1.6% in the fourth quarter. Nuveen Asset Management LLC now owns 2,332,626 shares of the company's stock worth $861,555,000 after purchasing an additional 37,389 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Trane Technologies by 8.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,319,287 shares of the company's stock worth $856,629,000 after purchasing an additional 177,206 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Insider Transactions at Trane Technologies

In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of the firm's stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $380.00, for a total value of $1,356,980.00. Following the transaction, the insider directly owned 3,593 shares of the company's stock, valued at approximately $1,365,340. This trade represents a 49.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.38% of the stock is currently owned by corporate insiders.

Trane Technologies Price Performance

Shares of Trane Technologies stock traded up $0.38 on Monday, reaching $472.45. 1,209,811 shares of the stock were exchanged, compared to its average volume of 1,020,104. The firm's 50 day moving average is $433.99 and its 200-day moving average is $386.90. The firm has a market cap of $105.37 billion, a PE ratio of 39.31, a P/E/G ratio of 3.07 and a beta of 1.15. Trane Technologies plc has a one year low of $298.15 and a one year high of $476.19. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.74 and a current ratio of 1.09.

Trane Technologies (NYSE:TT - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $0.25. Trane Technologies had a net margin of 13.47% and a return on equity of 36.10%. The firm had revenue of $4.69 billion during the quarter, compared to analysts' expectations of $4.46 billion. During the same period in the prior year, the company posted $1.94 EPS. The company's revenue was up 11.2% on a year-over-year basis. As a group, analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 0.80%. The ex-dividend date is Friday, September 5th. Trane Technologies's dividend payout ratio is presently 31.28%.

Analysts Set New Price Targets

A number of research firms recently commented on TT. Wells Fargo & Company lifted their price target on Trane Technologies from $370.00 to $410.00 and gave the stock an "underweight" rating in a research note on Tuesday, July 1st. Royal Bank Of Canada lifted their price target on Trane Technologies from $363.00 to $408.00 and gave the stock a "sector perform" rating in a research note on Thursday, May 1st. Robert W. Baird lifted their target price on Trane Technologies from $396.00 to $450.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. Stephens upgraded Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 target price for the company in a research note on Thursday, May 1st. Finally, JPMorgan Chase & Co. lifted their target price on Trane Technologies from $334.00 to $400.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Trane Technologies has a consensus rating of "Moderate Buy" and an average target price of $441.40.

Trane Technologies Profile

Trane Technologies plc, together with its subsidiaries, designs, manufactures, sells, and services of solutions for heating, ventilation, air conditioning, custom, and custom and transport refrigeration in Ireland and internationally. It offers air conditioners, exchangers, and handlers; airside and terminal devices; air sourced heat pumps, auxiliary power units; chillers; coils and condensers; gensets; dehumidifiers; ductless; furnaces; home automation products; humidifiers; indoor air quality assessments and related products; large and light commercial unitary products; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.