Value Partners Investments Inc. Invests $3.12 Million in Trane Technologies plc $TT

Key Points

• Value Partners Investments initiated a new position in Trane Technologies during the first quarter, buying 7,484 shares worth about $3.12 million.
• Trane Technologies posted solid quarterly results, with EPS of $2.63 beating estimates and revenue of $4.97 billion rising 6% year over year. The company also announced a quarterly dividend of $1.05 per share.
• Several analysts turned more bullish on TT, with multiple firms raising price targets and maintaining buy-type ratings. The stock was trading down about 5% in the article and had a consensus rating of Moderate Buy.

Value Partners Investments Inc. purchased a new stake in Trane Technologies plc (NYSE:TT - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 7,484 shares of the company's stock, valued at approximately $3,116,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TT. Brighton Jones LLC lifted its stake in shares of Trane Technologies by 60.0% in the 4th quarter. Brighton Jones LLC now owns 6,194 shares of the company's stock valued at $2,288,000 after purchasing an additional 2,323 shares during the last quarter. Sivia Capital Partners LLC raised its holdings in Trane Technologies by 22.4% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,665 shares of the company's stock valued at $728,000 after buying an additional 305 shares during the period. Schnieders Capital Management LLC. bought a new stake in Trane Technologies in the second quarter worth $227,000. Nebula Research & Development LLC lifted its position in Trane Technologies by 178.0% in the second quarter. Nebula Research & Development LLC now owns 2,371 shares of the company's stock worth $1,037,000 after buying an additional 1,518 shares during the last quarter. Finally, Treasurer of the State of North Carolina boosted its stake in Trane Technologies by 0.5% during the second quarter. Treasurer of the State of North Carolina now owns 104,140 shares of the company's stock worth $45,552,000 after buying an additional 497 shares during the period. Hedge funds and other institutional investors own 82.97% of the company's stock.

Insider Activity at Trane Technologies

In related news, insider Donald E. Simmons sold 4,593 shares of the business's stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $500.00, for a total value of $2,296,500.00. Following the completion of the transaction, the insider owned 3,819 shares of the company's stock, valued at $1,909,500. The trade was a 54.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Christopher J. Kuehn sold 8,619 shares of the 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 sale, the chief financial officer directly owned 60,576 shares in the company, valued at $27,259,200. This trade represents a 12.46% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.43% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TT. BNP Paribas Exane assumed coverage on shares of Trane Technologies in a research note on Tuesday, April 14th. They issued an "outperform" rating and a $550.00 target price on the stock. KeyCorp upped their price target on shares of Trane Technologies from $525.00 to $555.00 and gave the company an "overweight" rating in a report on Friday, May 1st. Weiss Ratings reissued a "buy (b)" rating on shares of Trane Technologies in a research report on Monday, April 20th. Citigroup boosted their target price on Trane Technologies from $525.00 to $570.00 and gave the company a "buy" rating in a research report on Friday, May 1st. Finally, Barclays upped their target price on Trane Technologies from $507.00 to $585.00 and gave the company an "overweight" rating in a research note on Friday, May 1st. Two investment 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 stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $509.12.

Trane Technologies Trading Down 5.0%

Shares of NYSE TT opened at $478.08 on Friday. Trane Technologies plc has a twelve month low of $348.06 and a twelve month high of $505.87. The firm has a market cap of $105.68 billion, a PE ratio of 36.97, a price-to-earnings-growth ratio of 2.32 and a beta of 1.20. The business has a fifty day simple moving average of $469.89 and a two-hundred day simple moving average of $437.98. The company has a quick ratio of 0.77, a current ratio of 1.10 and a debt-to-equity ratio of 0.46.

Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings data on Friday, May 1st. The company reported $2.63 earnings per share 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 during the quarter, compared to the consensus estimate of $4.81 billion. During the same period in the previous year, the company posted $2.45 earnings per share. The firm's quarterly revenue was up 6.0% on a year-over-year basis. Analysts expect that Trane Technologies plc will post 14.88 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.