Align Financial LLC Purchases Shares of 38,920 Trane Technologies plc $TT

Key Points

• Align Financial LLC opened a new position in Trane Technologies, buying 38,920 shares worth about $15.1 million in the fourth quarter.
• Analysts remain broadly positive on the stock, with an average rating of “Moderate Buy” and an average price target of $509.12; several firms recently raised their targets.
• Trane Technologies posted solid quarterly results, beating EPS and revenue estimates, and also declared a quarterly dividend of $1.05 per share to be paid on September 30.

Align Financial LLC acquired a new stake in shares of Trane Technologies plc (NYSE:TT - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 38,920 shares of the company's stock, valued at approximately $15,148,000.

Other hedge funds also recently made changes to their positions in the company. Tucker Asset Management LLC bought a new position in Trane Technologies in the 4th quarter worth approximately $25,000. Hilton Head Capital Partners LLC bought a new position in Trane Technologies in the 4th quarter worth approximately $32,000. JPL Wealth Management LLC bought a new position in Trane Technologies in the 3rd quarter worth approximately $32,000. Kemnay Advisory Services Inc. bought a new position in Trane Technologies in the 4th quarter worth approximately $34,000. Finally, Creative Financial Designs Inc. ADV boosted its stake in Trane Technologies by 119.5% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 90 shares of the company's stock worth $35,000 after purchasing an additional 49 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Barclays upped their price objective on Trane Technologies from $507.00 to $585.00 and gave the stock an "overweight" rating in a report on Friday, May 1st. Evercore assumed coverage on Trane Technologies in a report on Monday, April 13th. They set an "outperform" rating and a $535.00 price objective on the stock. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Trane Technologies in a report on Monday, April 20th. Sanford C. Bernstein assumed coverage on Trane Technologies in a report on Tuesday, June 9th. They set an "outperform" rating and a $550.00 price objective on the stock. Finally, Royal Bank Of Canada upped their price objective on Trane Technologies from $440.00 to $501.00 and gave the stock a "sector perform" rating in a report on Friday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Trane Technologies has an average rating of "Moderate Buy" and an average price target of $509.12.

Trane Technologies Stock Performance

NYSE:TT opened at $472.61 on Thursday. The stock's fifty day moving average is $466.16 and its 200 day moving average is $434.44. Trane Technologies plc has a fifty-two week low of $348.06 and a fifty-two week high of $503.47. The firm has a market capitalization of $104.47 billion, a PE ratio of 36.55, a PEG ratio of 2.19 and a beta of 1.20. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.10.

Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings results on Friday, May 1st. The company reported $2.63 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $4.81 billion. During the same quarter in the prior year, the firm posted $2.45 EPS. Trane Technologies's quarterly revenue was up 6.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Trane Technologies plc will post 14.88 earnings per share for the current year.

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 4th will be issued a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, September 4th. Trane Technologies's dividend payout ratio is presently 32.48%.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, CFO Christopher J. Kuehn sold 8,619 shares of the company's stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $450.00, for a total value of $3,878,550.00. Following the transaction, the chief financial officer owned 60,576 shares of the company's stock, valued at $27,259,200. This represents a 12.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Donald E. Simmons sold 4,593 shares of the company's stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $500.00, for a total value of $2,296,500.00. Following the completion of the transaction, the insider directly owned 3,819 shares in the company, valued at $1,909,500. This trade represents a 54.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.43% of the company's stock.

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.

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