Concurrent Investment Advisors LLC Buys 2,622 Shares of Trane Technologies plc $TT

Key Points

• Concurrent Investment Advisors LLC increased its stake in Trane Technologies by 21.5% in Q4, buying 2,622 shares to hold 14,835 shares worth about $5.77 million at quarter-end.
• Company insiders have been net sellers—selling 57,997 shares over the past three months, including CEO David S. Regnery's sale of 36,045 shares for roughly $15.24 million; insiders now own 0.14% of the stock.
• Wall Street sentiment is broadly positive with a consensus rating of “Moderate Buy” and a target price of $492.94, while several firms have recently raised price targets (Evercore $535, Barclays overweight).

Concurrent Investment Advisors LLC boosted its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 21.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 14,835 shares of the company's stock after buying an additional 2,622 shares during the period. Concurrent Investment Advisors LLC's holdings in Trane Technologies were worth $5,774,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. OneAscent Wealth Management LLC raised its stake in shares of Trane Technologies by 1.5% in the third quarter. OneAscent Wealth Management LLC now owns 1,627 shares of the company's stock valued at $686,000 after acquiring an additional 24 shares during the period. Bridgewater Advisors Inc. grew its holdings 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 during the last quarter. West Family Investments Inc. grew its holdings in Trane Technologies by 2.3% during the 3rd quarter. West Family Investments Inc. now owns 1,072 shares of the company's stock valued at $452,000 after purchasing an additional 24 shares during the last quarter. Cresset Asset Management LLC raised its position in Trane Technologies by 0.3% in the 3rd quarter. Cresset Asset Management LLC now owns 7,012 shares of the company's stock worth $2,959,000 after purchasing an additional 24 shares during the period. Finally, Mather Group LLC. lifted its stake in Trane Technologies by 2.7% in the third quarter. Mather Group LLC. now owns 966 shares of the company's stock worth $408,000 after purchasing an additional 25 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on TT shares. Oppenheimer upped their target price on Trane Technologies from $460.00 to $468.00 and gave the company an "outperform" rating in a research note on Friday, January 30th. Evercore initiated coverage on Trane Technologies in a research note on Monday, April 13th. They set an "outperform" rating and a $535.00 price target for the company. Royal Bank Of Canada boosted their price objective on Trane Technologies from $469.00 to $470.00 and gave the company a "sector perform" rating in a report on Friday, January 30th. Barclays upped their price objective on Trane Technologies from $505.00 to $507.00 and gave the company an "overweight" rating in a research report on Friday, January 30th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Trane Technologies in a research report on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Trane Technologies presently has a consensus rating of "Moderate Buy" and a consensus target price of $492.94.

Insider Transactions at Trane Technologies

In related news, insider Donald E. Simmons sold 3,762 shares of the company's stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $422.70, for a total value of $1,590,197.40. Following the completion of the sale, the insider directly owned 3,819 shares of the company's stock, valued at $1,614,291.30. This represents a 49.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David S. Regnery sold 36,045 shares of the 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 transaction, the chief executive officer owned 96,948 shares in the company, valued at approximately $40,978,950.12. The trade was a 27.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 57,997 shares of company stock valued at $25,107,014. Insiders own 0.14% of the company's stock.

Trane Technologies Stock Up 0.1%

Shares of NYSE TT opened at $486.88 on Monday. Trane Technologies plc has a 52-week low of $343.09 and a 52-week high of $490.15. The firm has a market capitalization of $107.66 billion, a price-to-earnings ratio of 37.51, a PEG ratio of 2.56 and a beta of 1.21. The stock has a 50 day moving average price of $445.72 and a 200 day moving average price of $423.55. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.25.

Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings data on Thursday, January 29th. The company reported $2.86 EPS for the quarter, topping the consensus estimate of $2.81 by $0.05. The company had revenue of $5.14 billion for the quarter, compared to the consensus estimate of $5.09 billion. Trane Technologies had a return on equity of 36.34% and a net margin of 13.69%.Trane Technologies's quarterly revenue was up 5.6% on a year-over-year basis. During the same period last year, the business posted $2.61 EPS. Sell-side analysts expect that Trane Technologies plc will post 14.75 earnings per share for the current year.

Trane Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th will be paid a dividend of $1.05 per share. The ex-dividend date is Friday, June 5th. This represents a $4.20 annualized dividend and a dividend yield of 0.9%. Trane Technologies's dividend payout ratio (DPR) is currently 32.36%.

Trane Technologies 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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