Walter Public Investments Inc. Has $17.06 Million Holdings in Trane Technologies plc $TT

Key Points

• Walter Public Investments cut its Trane Technologies stake by 21% in the first quarter, but the position was still worth about $17.06 million and remained its 6th-largest holding.
• Trane Technologies posted a stronger-than-expected quarter, 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, while analysts remain generally upbeat with an average rating of “Moderate Buy” and an average price target of about $509.12.

Walter Public Investments Inc. lowered its stake in Trane Technologies plc (NYSE:TT - Free Report) by 21.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 40,933 shares of the company's stock after selling 10,884 shares during the quarter. Trane Technologies comprises approximately 4.1% of Walter Public Investments Inc.'s holdings, making the stock its 6th largest holding. Walter Public Investments Inc.'s holdings in Trane Technologies were worth $17,058,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Koshinski Asset Management Inc. lifted its stake in Trane Technologies by 22.7% in the first quarter. Koshinski Asset Management Inc. now owns 735 shares of the company's stock valued at $306,000 after buying an additional 136 shares during the period. V Square Quantitative Management LLC grew its position in shares of Trane Technologies by 7.8% during the 1st quarter. V Square Quantitative Management LLC now owns 5,542 shares of the company's stock worth $2,310,000 after buying an additional 400 shares during the period. QRG Capital Management Inc. increased its stake in shares of Trane Technologies by 3.4% in the 1st quarter. QRG Capital Management Inc. now owns 57,201 shares of the company's stock valued at $23,838,000 after acquiring an additional 1,887 shares during the last quarter. HB Wealth Management LLC raised its position in shares of Trane Technologies by 5.7% in the 1st quarter. HB Wealth Management LLC now owns 9,825 shares of the company's stock valued at $4,095,000 after acquiring an additional 530 shares during the period. Finally, Baer Investment Advisory LLC acquired a new stake in shares of Trane Technologies in the 1st quarter valued at approximately $223,000. 82.97% of the stock is currently owned by institutional investors.

Trane Technologies Stock Performance

Shares of TT opened at $477.76 on Friday. The firm has a market cap of $105.61 billion, a P/E ratio of 36.95, a PEG ratio of 2.20 and a beta of 1.19. Trane Technologies plc has a twelve month low of $348.06 and a twelve month high of $505.87. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.10. The firm's 50 day moving average price is $470.69 and its two-hundred day moving average price is $440.93.

Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly earnings data on Friday, May 1st. The company reported $2.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.10. The company had revenue of $4.97 billion during the quarter, compared to the consensus estimate of $4.81 billion. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The firm's revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.45 earnings per share. On average, analysts forecast that Trane Technologies plc will post 14.9 EPS for the current fiscal year.

Trane Technologies Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TT. Barclays boosted their price objective on shares of Trane Technologies from $507.00 to $585.00 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. KeyCorp boosted 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. JPMorgan Chase & Co. upped their price objective on shares of Trane Technologies from $460.00 to $476.00 and gave the company a "neutral" rating in a research report on Thursday, May 14th. Finally, Sanford C. Bernstein assumed coverage on Trane Technologies in a research note on Tuesday, June 9th. They set an "outperform" rating and a $550.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $509.12.

Insider Transactions at Trane Technologies

In other news, insider Donald E. Simmons sold 4,593 shares of the company'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 completion of the transaction, the insider directly owned 3,819 shares of the company's stock, valued at $1,909,500. This represents a 54.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 dated Wednesday, April 8th. The stock was 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 of the company's stock, valued at approximately $27,259,200. The trade was 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. 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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