Resources Management Corp CT ADV Has $4.79 Million Stock Position in Trane Technologies plc $TT

Key Points

• Resources Management Corp CT ADV increased its stake in Trane Technologies by 225.4% in the fourth quarter, bringing its holding to 12,318 shares worth about $4.79 million.
• Trane Technologies reported better-than-expected quarterly results, with EPS of $2.63 versus $2.53 expected and revenue of $4.97 billion, up 6% year over year.
• The company declared a quarterly dividend of $1.05 per share payable Sept. 30, while analysts remain broadly positive with a Moderate Buy consensus and a target price of $509.12.

Resources Management Corp CT ADV boosted its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 225.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,318 shares of the company's stock after purchasing an additional 8,533 shares during the period. Resources Management Corp CT ADV's holdings in Trane Technologies were worth $4,794,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. Fiduciary Family Office LLC boosted its position in Trane Technologies by 1.5% during the fourth quarter. Fiduciary Family Office LLC now owns 1,573 shares of the company's stock valued at $612,000 after purchasing an additional 23 shares during the last quarter. Foster Dykema Cabot & Partners LLC boosted its position in Trane Technologies by 10.6% during the fourth quarter. Foster Dykema Cabot & Partners LLC now owns 239 shares of the company's stock valued at $93,000 after purchasing an additional 23 shares during the last quarter. Bridgewater Advisors Inc. boosted its position in Trane Technologies by 3.7% during the third 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. boosted its position in Trane Technologies by 2.3% during the third 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. Finally, Cresset Asset Management LLC lifted its position in shares of Trane Technologies by 0.3% in the third quarter. Cresset Asset Management LLC now owns 7,012 shares of the company's stock worth $2,959,000 after buying an additional 24 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Trane Technologies Trading Down 0.1%

Shares of TT opened at $457.69 on Monday. Trane Technologies plc has a 12-month low of $348.06 and a 12-month 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 firm has a market capitalization of $101.17 billion, a price-to-earnings ratio of 35.40, a P/E/G ratio of 2.11 and a beta of 1.20. The stock's 50-day moving average price is $463.44 and its 200 day moving average price is $433.30.

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 (EPS) for the quarter, beating 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 firm had revenue of $4.97 billion for the quarter, compared to analyst estimates of $4.81 billion. During the same period in the previous year, the company posted $2.45 earnings per share. The company's quarterly revenue was up 6.0% compared to the same quarter last year. As a group, research analysts predict that Trane Technologies plc will post 14.88 earnings per share for the current year.

Trane Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 4th will be paid a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, September 4th. Trane Technologies's payout ratio is currently 32.48%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on TT. BNP Paribas Exane began coverage on Trane Technologies in a research report on Tuesday, April 14th. They issued an "outperform" rating and a $550.00 price target for the company. Citigroup boosted their price target on Trane Technologies from $525.00 to $570.00 and gave the stock a "buy" rating in a research report on Friday, May 1st. KeyCorp boosted their price target on Trane Technologies from $525.00 to $555.00 and gave the stock an "overweight" rating in a research report on Friday, May 1st. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Trane Technologies in a research report on Monday, April 20th. Finally, Sanford C. Bernstein began coverage on Trane Technologies in a research report on Tuesday, June 9th. They issued an "outperform" rating and a $550.00 price target for the company. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $509.12.

Insider Activity

In related news, insider Donald E. Simmons sold 4,593 shares of the business's stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $500.00, for a total transaction of $2,296,500.00. Following the transaction, the insider directly owned 3,819 shares in the company, valued at $1,909,500. The trade was a 54.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Christopher J. Kuehn sold 8,619 shares of the business's stock in a transaction dated Wednesday, April 8th. The shares were sold at an average price of $450.00, for a total value of $3,878,550.00. Following the transaction, the chief financial officer owned 60,576 shares in the company, valued at $27,259,200. This 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 own 0.43% of the company's stock.

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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