MGO One Seven LLC Has $6.36 Million Stock Position in Trane Technologies plc $TT

Key Points

• MGO One Seven LLC increased its Trane Technologies stake by 63.2% in the fourth quarter, ending with 16,352 shares valued at about $6.36 million.
• Analysts remain broadly positive on Trane Technologies, with a consensus rating of “Moderate Buy” and an average price target of $505.56, while several firms recently raised their targets.
• The company beat quarterly expectations, reporting $2.63 EPS on $4.97 billion in revenue, and it also announced a quarterly dividend of $1.05 per share payable June 30.

MGO One Seven LLC boosted its stake in Trane Technologies plc (NYSE:TT - Free Report) by 63.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,352 shares of the company's stock after acquiring an additional 6,330 shares during the period. MGO One Seven LLC's holdings in Trane Technologies were worth $6,364,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. United Community Bank raised its stake in Trane Technologies by 134.4% during the third quarter. United Community Bank now owns 75 shares of the company's stock worth $32,000 after buying an additional 43 shares during the last quarter. JPL Wealth Management LLC acquired a new stake in Trane Technologies during the 3rd quarter worth about $32,000. KERR FINANCIAL PLANNING Corp bought a new position in shares of Trane Technologies in the 3rd quarter worth about $42,000. Hantz Financial Services Inc. lifted its stake in shares of Trane Technologies by 58.2% in the 3rd quarter. Hantz Financial Services Inc. now owns 106 shares of the company's stock valued at $45,000 after purchasing an additional 39 shares during the period. Finally, Key Financial Inc boosted its position in shares of Trane Technologies by 833.3% during the 3rd quarter. Key Financial Inc now owns 112 shares of the company's stock valued at $48,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 82.97% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Evercore assumed coverage on Trane Technologies in a report on Monday, April 13th. They issued an "outperform" rating and a $535.00 target price for the company. Citigroup raised their price objective on shares of Trane Technologies from $525.00 to $570.00 and gave the stock a "buy" rating in a research report on Friday, May 1st. Royal Bank Of Canada lifted their price objective 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. Barclays boosted their target price on shares of Trane Technologies from $507.00 to $585.00 and gave the company an "overweight" rating in a research report on Friday, May 1st. Finally, BNP Paribas Exane initiated coverage on shares of Trane Technologies in a report on Tuesday, April 14th. They issued an "outperform" rating and a $550.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $505.56.

Insider Activity

In related news, CEO David S. Regnery sold 36,045 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer directly owned 96,948 shares of the company's stock, valued at $40,978,950.12. This trade represents a 27.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Christopher J. Kuehn sold 8,619 shares of the business's stock in a transaction dated 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 transaction, the chief financial officer owned 60,576 shares in the company, valued at approximately $27,259,200. This trade represents a 12.46% 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. In the last three months, insiders have sold 62,590 shares of company stock worth $27,403,514. Company insiders own 0.14% of the company's stock.

Trane Technologies Stock Performance

Shares of Trane Technologies stock opened at $466.59 on Friday. Trane Technologies plc has a 52 week low of $348.06 and a 52 week high of $503.47. The company has a quick ratio of 0.77, a current ratio of 1.10 and a debt-to-equity ratio of 0.46. The business has a 50 day moving average price of $448.30 and a 200-day moving average price of $426.70. The company has a market cap of $103.14 billion, a PE ratio of 36.09, a price-to-earnings-growth ratio of 2.17 and a beta of 1.25.

Trane Technologies (NYSE:TT - Get Free Report) last announced its earnings results on Friday, May 1st. The company reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.10. The company had revenue of $4.97 billion for the quarter, compared to analysts' expectations of $4.81 billion. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.Trane Technologies's quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.45 earnings per share. Equities analysts anticipate that Trane Technologies plc will post 14.87 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th will be paid a $1.05 dividend. 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 is presently 32.48%.

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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