Argos Wealth Advisors LLC Takes Position in Trane Technologies plc $TT

Key Points

• Argos Wealth Advisors initiated a new position in Trane Technologies during the fourth quarter, buying 9,950 shares worth about $3.87 million. The stake now makes TT roughly 1.1% of the firm’s holdings.
• Insider selling was notable, with CEO David S. Regnery and CAO Elizabeth A. Elwell both selling shares on March 6. In total, insiders sold 53,654 shares worth about $23.27 million over the last quarter.
• Trane Technologies posted a better-than-expected Q1, with EPS of $2.63 versus estimates of $2.53 and revenue of $4.97 billion versus $4.81 billion expected. Analysts remain mostly constructive, with an average rating of Moderate Buy and an average price target of $505.56.

Argos Wealth Advisors LLC bought a new stake in Trane Technologies plc (NYSE:TT - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 9,950 shares of the company's stock, valued at approximately $3,873,000. Trane Technologies comprises approximately 1.1% of Argos Wealth Advisors LLC's holdings, making the stock its 13th biggest holding.

A number of other large investors also recently bought and sold shares of TT. Brighton Jones LLC lifted its position in Trane Technologies by 60.0% in the fourth quarter. Brighton Jones LLC now owns 6,194 shares of the company's stock valued at $2,288,000 after buying an additional 2,323 shares during the last quarter. Sivia Capital Partners LLC lifted its position in Trane Technologies by 22.4% in the second quarter. Sivia Capital Partners LLC now owns 1,665 shares of the company's stock valued at $728,000 after buying an additional 305 shares during the last quarter. Schnieders Capital Management LLC. acquired a new position in Trane Technologies in the second quarter valued at about $227,000. Nebula Research & Development LLC raised its holdings in shares of Trane Technologies by 178.0% in the 2nd quarter. Nebula Research & Development LLC now owns 2,371 shares of the company's stock valued at $1,037,000 after buying an additional 1,518 shares during the period. Finally, Treasurer of the State of North Carolina raised its holdings in shares of Trane Technologies by 0.5% in the 2nd quarter. Treasurer of the State of North Carolina now owns 104,140 shares of the company's stock valued at $45,552,000 after buying an additional 497 shares during the period. Institutional investors and hedge funds own 82.97% of the company's stock.

Insider Buying and Selling

In other Trane Technologies news, CEO David S. Regnery sold 36,045 shares of the company's stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $422.69, for a total transaction of $15,235,861.05. Following the sale, the chief executive officer owned 96,948 shares in the company, valued at $40,978,950.12. This represents a 27.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Elizabeth A. Elwell sold 635 shares of the company's stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $422.70, for a total value of $268,414.50. Following the sale, the chief accounting officer owned 7,100 shares in the company, valued at approximately $3,001,170. This trade represents a 8.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 53,654 shares of company stock worth $23,269,523 in the last quarter. Company insiders own 0.14% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. KeyCorp boosted 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. Morgan Stanley cut their price objective on Trane Technologies from $550.00 to $535.00 and set an "overweight" rating on the stock in a report on Tuesday, January 13th. Barclays boosted their price objective on Trane Technologies from $507.00 to $585.00 and gave the company an "overweight" rating in a report on Friday, May 1st. Oppenheimer boosted their price objective on Trane Technologies from $460.00 to $468.00 and gave the company an "outperform" rating in a report on Friday, January 30th. Finally, Evercore assumed coverage on Trane Technologies in a report on Monday, April 13th. They issued an "outperform" rating and a $535.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $505.56.

Trane Technologies Price Performance

Shares of NYSE TT opened at $467.77 on Wednesday. The stock's 50-day moving average is $448.94 and its two-hundred day moving average is $427.82. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.10 and a quick ratio of 0.77. Trane Technologies plc has a 1-year low of $348.06 and a 1-year high of $503.47. The company has a market cap of $103.40 billion, a price-to-earnings ratio of 36.18, a price-to-earnings-growth ratio of 2.20 and a beta of 1.25.

Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly earnings results on Friday, May 1st. The company reported $2.63 earnings per share for the quarter, topping 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 the consensus estimate of $4.81 billion. During the same quarter in the prior year, the business earned $2.45 EPS. Trane Technologies's revenue was up 6.0% on a year-over-year basis. Analysts forecast that Trane Technologies plc will post 14.87 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, June 5th will be issued a dividend of $1.05 per share. The ex-dividend date is Friday, June 5th. This represents a $4.20 annualized dividend and a yield of 0.9%. Trane Technologies's dividend payout ratio is 32.48%.

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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