Evergreen Capital Management LLC Grows Holdings in Trane Technologies plc $TT

Key Points

• Evergreen Capital Management boosted its stake in Trane Technologies by 122.9% in Q4, acquiring an additional 4,290 shares to hold 7,781 shares worth about $3.03 million, while institutional investors now own 82.97% of the company.
• Company insiders have been net sellers recently — CEO David S. Regnery sold 36,045 shares (~$15.24M) and CFO Christopher Kuehn sold 8,619 shares (~$3.88M), with insiders selling a total of 57,997 shares (~$25.11M) in the past 90 days and now owning just 0.14% of the stock.
• Trane declared a quarterly dividend of $1.05 per share (annualized $4.20, yield ~0.9%), and analysts hold a consensus "Moderate Buy" rating with a target price of about $492.94; the stock trades at a P/E of 36.78 and a market cap near $105.7 billion.

Evergreen Capital Management LLC lifted its holdings in Trane Technologies plc (NYSE:TT - Free Report) by 122.9% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,781 shares of the company's stock after purchasing an additional 4,290 shares during the period. Evergreen Capital Management LLC's holdings in Trane Technologies were worth $3,028,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Bolthouse Investments LLC acquired a new position in shares of Trane Technologies in the fourth quarter valued at approximately $213,000. Richards Merrill & Peterson Inc. grew its holdings in shares of Trane Technologies by 28.0% in the fourth quarter. Richards Merrill & Peterson Inc. now owns 1,945 shares of the company's stock valued at $757,000 after purchasing an additional 425 shares in the last quarter. Human Investing LLC acquired a new position in shares of Trane Technologies in the fourth quarter valued at approximately $266,000. TD Waterhouse Canada Inc. grew its holdings in shares of Trane Technologies by 3.0% in the fourth quarter. TD Waterhouse Canada Inc. now owns 35,775 shares of the company's stock valued at $13,936,000 after purchasing an additional 1,052 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Trane Technologies by 7.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 292,165 shares of the company's stock valued at $113,711,000 after purchasing an additional 20,010 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Insider Activity

In other news, CEO David S. Regnery sold 36,045 shares of Trane Technologies stock in a transaction on Friday, March 6th. The shares were sold at an average price of $422.69, for a total transaction of $15,235,861.05. Following the completion of the sale, the chief executive officer directly owned 96,948 shares of the company's stock, valued at approximately $40,978,950.12. The trade was a 27.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Christopher J. Kuehn sold 8,619 shares of Trane Technologies stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $450.00, for a total transaction of $3,878,550.00. Following the sale, the chief financial officer directly owned 60,576 shares of the company's stock, valued at approximately $27,259,200. This trade represents a 12.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 57,997 shares of company stock valued at $25,107,014 in the last 90 days. Company insiders own 0.14% of the company's stock.

Trane Technologies Price Performance

Trane Technologies stock opened at $477.44 on Thursday. The stock has a market cap of $105.67 billion, a P/E ratio of 36.78, a price-to-earnings-growth ratio of 2.52 and a beta of 1.21. The company has a fifty day simple moving average of $444.77 and a 200-day simple moving average of $422.69. Trane Technologies plc has a 12-month low of $334.37 and a 12-month high of $487.08. The company has a current ratio of 1.25, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46.

Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings data on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.81 by $0.05. The business had revenue of $5.14 billion during 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 revenue for the quarter was up 5.6% on a year-over-year basis. During the same period in the previous year, the company earned $2.61 EPS. Equities analysts expect that Trane Technologies plc will post 14.76 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently disclosed 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. This represents a $4.20 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, June 5th. Trane Technologies's payout ratio is 32.36%.

Analysts Set New Price Targets

TT has been the subject of a number of research reports. Barclays lifted their price objective on shares of Trane Technologies from $505.00 to $507.00 and gave the company an "overweight" rating in a report on Friday, January 30th. Weiss Ratings restated a "buy (b)" rating on shares of Trane Technologies in a report on Monday. JPMorgan Chase & Co. lifted their price objective on shares of Trane Technologies from $434.00 to $460.00 and gave the company a "neutral" rating in a report on Friday, January 30th. Melius Research upgraded shares of Trane Technologies from a "hold" rating to a "buy" rating and set a $490.00 price objective for the company in a report on Wednesday, January 7th. Finally, Wells Fargo & Company lifted their price objective on shares of Trane Technologies from $375.00 to $400.00 and gave the company an "underweight" rating in a report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $492.94.

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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