Trane Technologies plc $TT is Isthmus Partners LLC's 9th Largest Position

Key Points

• Isthmus Partners LLC reduced its Trane Technologies stake by 8.6% in the first quarter, but the position remained its 9th largest holding and was still valued at about $16.3 million.
• Trane Technologies beat earnings expectations in its latest quarter, reporting $2.63 EPS versus the $2.53 estimate, while revenue rose 6% year over year to $4.97 billion.
• Analysts remain broadly positive, with a Moderate Buy consensus and a price target of $512.19; the company also announced a quarterly dividend of $1.05 per share payable September 30.

Isthmus Partners LLC cut its stake in Trane Technologies plc (NYSE:TT - Free Report) by 8.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 39,173 shares of the company's stock after selling 3,696 shares during the quarter. Trane Technologies comprises approximately 1.7% of Isthmus Partners LLC's investment portfolio, making the stock its 9th biggest position. Isthmus Partners LLC's holdings in Trane Technologies were worth $16,325,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Tucker Asset Management LLC purchased a new stake in shares of Trane Technologies in the fourth quarter valued at about $25,000. JPL Wealth Management LLC purchased a new position in Trane Technologies during the third quarter worth about $32,000. Physician Wealth Advisors Inc. boosted its holdings in Trane Technologies by 192.6% in the 1st quarter. Physician Wealth Advisors Inc. now owns 79 shares of the company's stock valued at $33,000 after purchasing an additional 52 shares during the last quarter. Hilton Head Capital Partners LLC acquired a new position in Trane Technologies in the 4th quarter valued at about $32,000. Finally, Kemnay Advisory Services Inc. purchased a new stake in shares of Trane Technologies in the 4th quarter valued at approximately $34,000. Hedge funds and other institutional investors own 82.97% of the company's stock.

Insiders Place Their Bets

In other Trane Technologies news, insider Donald E. Simmons sold 4,593 shares of the business's stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $500.00, for a total transaction of $2,296,500.00. Following the sale, the insider directly owned 3,819 shares in the company, valued at $1,909,500. This represents a 54.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently commented on the stock. KeyCorp lifted their price target on shares of Trane Technologies from $525.00 to $555.00 and gave the company an "overweight" rating in a research report on Friday, May 1st. Weiss Ratings reissued a "buy (b)" rating on shares of Trane Technologies in a research note on Monday, April 20th. JPMorgan Chase & Co. lifted their target price on Trane Technologies from $460.00 to $476.00 and gave the company a "neutral" rating in a research report on Thursday, May 14th. Barclays upped their price target on Trane Technologies from $507.00 to $585.00 and gave the company an "overweight" rating in a research note on Friday, May 1st. Finally, Citigroup raised their price objective on Trane Technologies from $525.00 to $570.00 and gave the stock a "buy" rating in a research report on Friday, May 1st. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $512.19.

Trane Technologies Stock Down 0.7%

Trane Technologies stock opened at $472.30 on Thursday. The company has a market capitalization of $104.40 billion, a PE ratio of 36.53, a price-to-earnings-growth ratio of 2.19 and a beta of 1.19. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.10. Trane Technologies plc has a fifty-two week low of $348.06 and a fifty-two week high of $505.87. The firm has a 50 day moving average price of $470.24 and a 200 day moving average price of $443.18.

Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings results on Friday, May 1st. The company reported $2.63 EPS for the quarter, topping 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 business had revenue of $4.97 billion during the quarter, compared to analyst estimates of $4.81 billion. During the same period last year, the business posted $2.45 earnings per share. The company's quarterly revenue was up 6.0% on a year-over-year basis. Research analysts expect that Trane Technologies plc will post 14.9 earnings per share for the current year.

Trane Technologies Announces Dividend

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