Walter Public Investments Inc. Has $20.17 Million Position in Trane Technologies plc $TT

Key Points

• Walter Public Investments reduced its Trane Technologies stake by 6.3% in the fourth quarter, but still held 51,817 shares worth about $20.17 million. The stock remains its 9th-largest position and makes up roughly 3.6% of the portfolio.
• Trane Technologies reported better-than-expected quarterly results, with EPS of $2.63 versus $2.53 expected and revenue of $4.97 billion versus $4.81 billion expected. Revenue rose 6% year over year, and the company also announced a quarterly dividend of $1.05 per share.
• Analyst sentiment is broadly positive, with multiple firms raising price targets and the stock carrying a Moderate Buy consensus. The average target price is about $506.56, above the recent trading level around $451.68.

Walter Public Investments Inc. cut its stake in Trane Technologies plc (NYSE:TT - Free Report) by 6.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 51,817 shares of the company's stock after selling 3,495 shares during the period. Trane Technologies accounts for about 3.6% of Walter Public Investments Inc.'s investment portfolio, making the stock its 9th biggest position. Walter Public Investments Inc.'s holdings in Trane Technologies were worth $20,167,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of TT. Tucker Asset Management LLC bought a new position in shares of Trane Technologies in the fourth quarter worth about $25,000. United Community Bank raised its stake in shares of Trane Technologies by 134.4% in the third quarter. United Community Bank now owns 75 shares of the company's stock worth $32,000 after acquiring an additional 43 shares during the last quarter. JPL Wealth Management LLC bought a new position in shares of Trane Technologies in the third quarter worth about $32,000. Creative Financial Designs Inc. ADV raised its stake in shares of Trane Technologies by 119.5% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 90 shares of the company's stock worth $35,000 after acquiring an additional 49 shares during the last quarter. Finally, KERR FINANCIAL PLANNING Corp bought a new position in shares of Trane Technologies in the third quarter worth about $42,000. 82.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on TT shares. KeyCorp boosted their target price on shares of Trane Technologies from $525.00 to $555.00 and gave the stock an "overweight" rating in a research note on Friday, May 1st. Royal Bank Of Canada increased their price objective on shares of Trane Technologies from $440.00 to $501.00 and gave the company a "sector perform" rating in a report on Friday, May 1st. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Trane Technologies in a report on Monday, April 20th. Citigroup upped their target price on shares of Trane Technologies from $525.00 to $570.00 and gave the company a "buy" rating in a research report on Friday, May 1st. Finally, BNP Paribas Exane started coverage on Trane Technologies in a research note on Tuesday, April 14th. They issued an "outperform" rating and a $550.00 price target on the stock. One investment analyst has 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's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $506.56.

Insiders Place Their Bets

In other Trane Technologies news, insider Donald E. Simmons sold 4,593 shares of Trane Technologies 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 approximately $1,909,500. The trade was a 54.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Elizabeth A. Elwell sold 635 shares of Trane Technologies stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $422.70, for a total value of $268,414.50. Following the transaction, the chief accounting officer owned 7,100 shares in the company, valued at approximately $3,001,170. This represents a 8.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 53,654 shares of company stock valued at $23,269,523. Insiders own 0.14% of the company's stock.

Trane Technologies Trading Down 0.1%

Shares of NYSE TT opened at $451.68 on Friday. Trane Technologies plc has a twelve month low of $348.06 and a twelve month high of $503.47. The stock has a market cap of $99.84 billion, a price-to-earnings ratio of 34.93, a P/E/G ratio of 2.08 and a beta of 1.25. 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 company's fifty day moving average is $455.43 and its 200-day moving average is $430.04.

Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings data on Friday, May 1st. The company reported $2.63 EPS for the quarter, beating analysts' consensus estimates of $2.53 by $0.10. The business had revenue of $4.97 billion during the quarter, compared to analysts' expectations of $4.81 billion. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The firm's quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.45 EPS. Equities research analysts predict that Trane Technologies plc will post 14.88 EPS for the current year.

Trane Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, June 5th will be issued a dividend of $1.05 per share. The ex-dividend date is Friday, June 5th. This represents a $4.20 annualized dividend and a yield of 0.9%. Trane Technologies's payout ratio is currently 32.48%.

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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