Aptus Capital Advisors LLC Raises Position in Trane Technologies plc $TT

Key Points

• Aptus Capital Advisors increased its stake in Trane Technologies by 37.1% in the fourth quarter, buying 5,466 more shares and bringing its total holding to 20,204 shares worth about $7.86 million.
• Trane Technologies reported better-than-expected quarterly results, with EPS of $2.63 versus estimates of $2.53 and revenue of $4.97 billion versus $4.81 billion expected. Revenue rose 6% year over year.
• The company announced a quarterly dividend of $1.05 per share, payable Sept. 30, which works out to an annualized dividend of $4.20 and a yield of about 0.9%.

Aptus Capital Advisors LLC boosted its stake in Trane Technologies plc (NYSE:TT - Free Report) by 37.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,204 shares of the company's stock after buying an additional 5,466 shares during the period. Aptus Capital Advisors LLC's holdings in Trane Technologies were worth $7,863,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of TT. Tucker Asset Management LLC purchased a new stake in Trane Technologies in the fourth quarter worth about $25,000. Hilton Head Capital Partners LLC purchased a new stake in Trane Technologies in the fourth quarter worth about $32,000. JPL Wealth Management LLC purchased a new stake in Trane Technologies in the third quarter worth about $32,000. Creative Financial Designs Inc. ADV lifted its holdings in 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 buying an additional 49 shares during the period. Finally, KERR FINANCIAL PLANNING Corp bought a new position in shares of Trane Technologies during the third quarter valued at approximately $42,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Trane Technologies Stock Up 3.1%

TT opened at $472.54 on Tuesday. 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 fifty-two week low of $348.06 and a fifty-two week high of $503.47. The firm's fifty day moving average is $464.34 and its 200 day moving average is $433.68. The stock has a market cap of $104.45 billion, a price-to-earnings ratio of 36.55, a price-to-earnings-growth ratio of 2.11 and a beta of 1.20.

Trane Technologies (NYSE:TT - Get Free Report) last announced its quarterly earnings results on Friday, May 1st. The company reported $2.63 EPS for the quarter, topping the consensus estimate of $2.53 by $0.10. The business had revenue of $4.97 billion for the quarter, compared to analysts' expectations of $4.81 billion. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The business's quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.45 EPS. On average, sell-side analysts forecast that Trane Technologies plc will post 14.88 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 4th will be issued a $1.05 dividend. The ex-dividend date is Friday, September 4th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 0.9%. Trane Technologies's payout ratio is 32.48%.

Insider Transactions at Trane Technologies

In related news, CFO Christopher J. Kuehn sold 8,619 shares of the company's stock in a transaction dated Wednesday, April 8th. The shares were sold at an average price of $450.00, for a total transaction of $3,878,550.00. Following the transaction, the chief financial officer directly owned 60,576 shares in the company, valued at approximately $27,259,200. This represents a 12.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible 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 firm's stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $500.00, for a total transaction of $2,296,500.00. Following the transaction, the insider directly owned 3,819 shares in the company, valued at approximately $1,909,500. This trade represents a 54.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.43% of the company's stock.

Analyst Ratings Changes

TT has been the subject of a number of analyst reports. KeyCorp raised their target price on shares of Trane Technologies from $525.00 to $555.00 and gave the company an "overweight" rating in a research note on Friday, May 1st. Sanford C. Bernstein initiated coverage on shares of Trane Technologies in a research note on Tuesday, June 9th. They set an "outperform" rating and a $550.00 target price for the company. Royal Bank Of Canada raised 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 note on Friday, May 1st. Citigroup raised their target price on shares of Trane Technologies from $525.00 to $570.00 and gave the company a "buy" rating in a research note on Friday, May 1st. Finally, Evercore initiated coverage on shares of Trane Technologies in a research note on Monday, April 13th. They set an "outperform" rating and a $535.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $509.12.

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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