Buffalo Business & Estate Services Ltd. Acquires Shares of 11,112 Trane Technologies plc $TT

Key Points

• Buffalo Business & Estate Services opened a new position in Trane Technologies, buying 11,112 shares in Q4 worth about $4.33 million, and institutional investors now own roughly 82.97% of the stock.
• Trane beat quarterly estimates with $2.86 EPS versus $2.81 expected and $5.14 billion in revenue (+5.6% YoY), and it pays a quarterly dividend of $1.05 (annualized $4.20, ~1.0% yield).
• Insider selling has been significant recently—CEO David Regnery sold 36,045 shares and insiders sold a total of 49,378 shares (~$21.2 million) in the last 90 days—while analysts hold a "Moderate Buy" consensus with a $484.67 average target.

Buffalo Business & Estate Services Ltd. bought a new position in shares of Trane Technologies plc (NYSE:TT - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 11,112 shares of the company's stock, valued at approximately $4,325,000.

Other hedge funds also recently bought and sold shares of the company. Financial Consulate Inc. bought a new position in Trane Technologies during the 3rd quarter valued at approximately $25,000. United Community Bank lifted its holdings in Trane Technologies by 134.4% in the 3rd quarter. United Community Bank now owns 75 shares of the company's stock worth $32,000 after buying an additional 43 shares during the period. JPL Wealth Management LLC bought a new stake in shares of Trane Technologies in the 3rd quarter worth approximately $32,000. KERR FINANCIAL PLANNING Corp purchased a new position in shares of Trane Technologies during the third quarter valued at approximately $42,000. Finally, Halbert Hargrove Global Advisors LLC raised its holdings in shares of Trane Technologies by 34.2% during the third quarter. Halbert Hargrove Global Advisors LLC now owns 102 shares of the company's stock valued at $43,000 after acquiring an additional 26 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

Trane Technologies Price Performance

Shares of TT stock opened at $427.43 on Monday. The business's fifty day moving average is $436.76 and its 200 day moving average is $418.24. The company has a quick ratio of 0.92, a current ratio of 1.25 and a debt-to-equity ratio of 0.46. The stock has a market cap of $94.60 billion, a price-to-earnings ratio of 32.93, a PEG ratio of 2.25 and a beta of 1.21. Trane Technologies plc has a twelve month low of $298.15 and a twelve month high of $479.37.

Trane Technologies (NYSE:TT - Get Free Report) last announced its earnings results on Thursday, January 29th. The company reported $2.86 EPS for the quarter, beating analysts' consensus estimates of $2.81 by $0.05. The firm had revenue of $5.14 billion for the quarter, compared to analysts' expectations of $5.09 billion. Trane Technologies had a net margin of 13.69% and a return on equity of 36.34%. The company's quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.61 EPS. Research analysts expect that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 5th will be paid a dividend of $1.05 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $4.20 annualized dividend and a yield of 1.0%. Trane Technologies's payout ratio is presently 32.36%.

Insider Buying and Selling at Trane Technologies

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 shares were sold at an average price of $422.69, for a total value of $15,235,861.05. Following the sale, the chief executive officer owned 96,948 shares in the company, valued at approximately $40,978,950.12. This represents a 27.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Christopher J. Kuehn sold 2,389 shares of Trane Technologies stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $462.70, for a total transaction of $1,105,390.30. Following the transaction, the chief financial officer owned 60,486 shares of the company's stock, valued at $27,986,872.20. The trade was a 3.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 49,378 shares of company stock worth $21,228,464 in the last ninety days. 0.14% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TT. Citigroup lifted their price target on shares of Trane Technologies from $513.00 to $525.00 and gave the company a "buy" rating in a report on Friday, January 30th. KeyCorp upgraded shares of Trane Technologies from a "sector weight" rating to an "overweight" rating and set a $500.00 price objective for the company in a report on Monday, December 15th. Melius Research raised shares of Trane Technologies from a "hold" rating to a "buy" rating and set a $490.00 target price for the company in a research report on Wednesday, January 7th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Trane Technologies in a research note on Wednesday, January 21st. Finally, Royal Bank Of Canada increased their price target on shares of Trane Technologies from $469.00 to $470.00 and gave the stock a "sector perform" rating in a research note on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $484.67.

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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