Applied Finance Capital Management LLC Makes New Investment in Trane Technologies plc $TT

Key Points

• Applied Finance Capital Management LLC opened a new position in Trane Technologies during the fourth quarter, buying 2,331 shares worth about $907,000.
• Analysts remain broadly positive on the stock, with several firms raising price targets; MarketBeat data shows an average rating of “Moderate Buy” and an average target price of $506.56.
• Trane Technologies recently reported better-than-expected earnings and revenue, with quarterly EPS of $2.63 versus $2.53 expected and revenue of $4.97 billion versus $4.81 billion expected.

Applied Finance Capital Management LLC purchased a new stake in Trane Technologies plc (NYSE:TT - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 2,331 shares of the company's stock, valued at approximately $907,000.

A number of other hedge funds have also modified their holdings of the business. OneAscent Wealth Management LLC lifted its stake in shares of Trane Technologies by 1.5% during the third quarter. OneAscent Wealth Management LLC now owns 1,627 shares of the company's stock worth $686,000 after purchasing an additional 24 shares in the last quarter. Bridgewater Advisors Inc. boosted its stake in Trane Technologies by 3.7% during the 3rd quarter. Bridgewater Advisors Inc. now owns 670 shares of the company's stock valued at $285,000 after purchasing an additional 24 shares in the last quarter. West Family Investments Inc. raised its stake in shares of Trane Technologies by 2.3% during the 3rd quarter. West Family Investments Inc. now owns 1,072 shares of the company's stock worth $452,000 after purchasing an additional 24 shares in the last quarter. Cresset Asset Management LLC increased its position in Trane Technologies by 0.3% during the third quarter. Cresset Asset Management LLC now owns 7,012 shares of the company's stock worth $2,959,000 after buying an additional 24 shares during the last quarter. Finally, Leavell Investment Management Inc. grew its position in shares of Trane Technologies by 0.3% in the third quarter. Leavell Investment Management Inc. now owns 8,414 shares of the company's stock valued at $3,550,000 after purchasing an additional 25 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently issued reports on TT shares. Citigroup increased their price target on shares of Trane Technologies from $525.00 to $570.00 and gave the stock a "buy" rating in a research report on Friday, May 1st. JPMorgan Chase & Co. upped their price objective on shares of Trane Technologies from $460.00 to $476.00 and gave the company a "neutral" rating in a report on Thursday. KeyCorp lifted their price objective on Trane Technologies from $525.00 to $555.00 and gave the company an "overweight" rating in a report on Friday, May 1st. Oppenheimer lifted their price target on shares of Trane Technologies from $460.00 to $468.00 and gave the company an "outperform" rating in a report on Friday, January 30th. Finally, Royal Bank Of Canada boosted their target price on shares of Trane Technologies from $440.00 to $501.00 and gave the company a "sector perform" rating in a research report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $506.56.

Trane Technologies Stock Down 3.1%

Shares of Trane Technologies stock opened at $466.65 on Friday. 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 plc has a 52-week low of $348.06 and a 52-week high of $503.47. The stock has a market capitalization of $103.15 billion, a PE ratio of 36.09, a price-to-earnings-growth ratio of 2.22 and a beta of 1.25. The company has a 50-day simple moving average of $450.17 and a two-hundred day simple moving average of $428.86.

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. The firm had revenue of $4.97 billion for the quarter, compared to analysts' expectations of $4.81 billion. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The company's revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.45 EPS. On average, analysts anticipate that Trane Technologies plc will post 14.87 EPS for the current fiscal year.

Trane Technologies Announces Dividend

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

Insider Buying and Selling at Trane Technologies

In other news, CAO Elizabeth A. Elwell sold 635 shares of the stock in a transaction that occurred 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 transaction, the chief accounting officer directly owned 7,100 shares in the company, valued at approximately $3,001,170. This trade represents a 8.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Christopher J. Kuehn sold 8,619 shares of the firm'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 completion of the sale, the chief financial officer directly owned 60,576 shares of the company's stock, valued at $27,259,200. The trade was a 12.46% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 53,654 shares of company stock valued at $23,269,523 in the last 90 days. Insiders own 0.14% of the company's stock.

About Trane Technologies

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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