Turtle Creek Wealth Advisors LLC Acquires 2,715 Shares of Trane Technologies plc $TT

Key Points

• Turtle Creek Wealth Advisors LLC raised its stake in Trane Technologies (NYSE:TT) by 17.1%, acquiring 2,715 shares to hold 18,613 shares worth approximately $7.244 million per its latest SEC filing.
• Analysts give TT an overall rating of "Moderate Buy" with an average price target of $492.94 (consensus: 1 Strong Buy, 11 Buy, 6 Hold, 1 Sell), while recent firm targets range roughly from $400 to $535.
• Trane beat expectations for the quarter (EPS $2.86 vs. $2.81; revenue $5.14B vs. $5.09B) and declared a quarterly dividend of $1.05 (annualized $4.20), implying a yield of about 0.9% with an ex-dividend date of June 5.

Turtle Creek Wealth Advisors LLC lifted its holdings in shares of Trane Technologies plc (NYSE:TT - Free Report) by 17.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 18,613 shares of the company's stock after acquiring an additional 2,715 shares during the quarter. Turtle Creek Wealth Advisors LLC's holdings in Trane Technologies were worth $7,244,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in TT. Financial Consulate Inc. bought a new position in shares of Trane Technologies during the 3rd quarter worth approximately $25,000. United Community Bank boosted its stake in shares of Trane Technologies by 134.4% during the 3rd quarter. United Community Bank now owns 75 shares of the company's stock worth $32,000 after acquiring an additional 43 shares during the period. JPL Wealth Management LLC bought a new position in shares of Trane Technologies during the 3rd quarter worth approximately $32,000. KERR FINANCIAL PLANNING Corp bought a new position in shares of Trane Technologies during the 3rd quarter worth approximately $42,000. Finally, Halbert Hargrove Global Advisors LLC lifted its holdings in Trane Technologies by 34.2% during the 3rd quarter. Halbert Hargrove Global Advisors LLC now owns 102 shares of the company's stock worth $43,000 after purchasing an additional 26 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on TT shares. Wells Fargo & Company lifted their price target on Trane Technologies from $375.00 to $400.00 and gave the stock an "underweight" rating in a report on Friday, January 30th. UBS Group dropped their price target on Trane Technologies from $544.00 to $520.00 and set a "buy" rating for the company in a report on Monday, January 5th. JPMorgan Chase & Co. lifted their price target on Trane Technologies from $434.00 to $460.00 and gave the stock a "neutral" rating in a report on Friday, January 30th. Morgan Stanley dropped their price target on Trane Technologies from $550.00 to $535.00 and set an "overweight" rating for the company in a report on Tuesday, January 13th. Finally, Royal Bank Of Canada lifted their price target on Trane Technologies from $469.00 to $470.00 and gave the stock a "sector perform" rating in a report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $492.94.

Trane Technologies Stock Performance

NYSE:TT opened at $486.01 on Friday. The stock has a market cap of $107.57 billion, a P/E ratio of 37.44, a PEG ratio of 2.51 and a beta of 1.21. The stock has a 50 day simple moving average of $445.28 and a 200 day simple moving average of $423.13. 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 plc has a 1-year low of $334.37 and a 1-year high of $490.15.

Trane Technologies (NYSE:TT - Get Free Report) last announced its quarterly earnings data on Thursday, January 29th. The company reported $2.86 earnings per share for the quarter, beating the consensus estimate of $2.81 by $0.05. The firm had revenue of $5.14 billion during the quarter, compared to analysts' expectations of $5.09 billion. Trane Technologies had a return on equity of 36.34% and a net margin of 13.69%.The company's quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.61 EPS. Research analysts anticipate that Trane Technologies plc will post 14.76 earnings per share for the current year.

Trane Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, June 5th will be issued a $1.05 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $4.20 annualized dividend and a yield of 0.9%. Trane Technologies's payout ratio is currently 32.36%.

Insider Buying and Selling

In other Trane Technologies news, insider Donald E. Simmons sold 3,762 shares of Trane Technologies stock in a transaction on Friday, March 6th. The stock was sold at an average price of $422.70, for a total value of $1,590,197.40. Following the completion of the transaction, the insider directly owned 3,819 shares of the company's stock, valued at $1,614,291.30. The trade was a 49.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Christopher J. Kuehn sold 8,619 shares of Trane Technologies stock in a transaction on 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 completion of the transaction, the chief financial officer directly owned 60,576 shares of the company's stock, valued at $27,259,200. This represents a 12.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 57,997 shares of company stock valued at $25,107,014 over the last 90 days. 0.14% of the stock is currently owned by insiders.

Trane Technologies Company 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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