WINTON GROUP Ltd Takes $1.14 Million Position in Trane Technologies plc $TT

Key Points

• WINTON GROUP Ltd disclosed a new fourth-quarter stake in Trane Technologies, buying 2,926 shares valued at about $1.14 million.
• Trane Technologies reported better-than-expected Q1 earnings, with EPS of $2.63 versus the $2.53 estimate and revenue of $4.97 billion, up 6% year over year.
• The company also announced a quarterly dividend of $1.05 per share, translating to an annualized payout of $4.20 and a yield of about 0.9%.

WINTON GROUP Ltd acquired a new stake in shares of Trane Technologies plc (NYSE:TT - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 2,926 shares of the company's stock, valued at approximately $1,139,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Tucker Asset Management LLC acquired a new position in Trane Technologies during the 4th quarter worth approximately $25,000. JPL Wealth Management LLC bought a new stake in shares of Trane Technologies in the 3rd quarter valued at approximately $32,000. Creative Financial Designs Inc. ADV increased its holdings in shares of Trane Technologies by 119.5% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 90 shares of the company's stock valued at $35,000 after acquiring an additional 49 shares during the last quarter. KERR FINANCIAL PLANNING Corp acquired a new position in Trane Technologies during the 3rd quarter valued at approximately $42,000. Finally, Hantz Financial Services Inc. boosted its position in Trane Technologies by 58.2% during the 3rd quarter. Hantz Financial Services Inc. now owns 106 shares of the company's stock valued at $45,000 after purchasing an additional 39 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Trane Technologies Stock Up 2.5%

Shares of Trane Technologies stock opened at $470.24 on Wednesday. The stock's fifty day moving average is $461.08 and its 200-day moving average is $432.27. The firm has a market capitalization of $103.95 billion, a PE ratio of 36.37, a price-to-earnings-growth ratio of 2.11 and a beta of 1.20. 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 plc has a 12-month low of $348.06 and a 12-month high of $503.47.

Trane Technologies (NYSE:TT - Get Free Report) last posted its quarterly earnings results 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 for the quarter, compared to analyst estimates of $4.81 billion. During the same period in the previous year, the firm earned $2.45 earnings per share. Trane Technologies's quarterly revenue was up 6.0% on a year-over-year basis. Equities analysts anticipate that Trane Technologies plc will post 14.88 earnings per share for the current year.

Trane Technologies Dividend Announcement

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

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Citigroup boosted their price objective on Trane Technologies from $525.00 to $570.00 and gave the company a "buy" rating in a research report on Friday, May 1st. Sanford C. Bernstein started coverage on Trane Technologies in a research report on Tuesday. They set an "outperform" rating for the company. Barclays boosted their price target on Trane Technologies from $507.00 to $585.00 and gave the stock an "overweight" rating in a research report on Friday, May 1st. Weiss Ratings reiterated a "buy (b)" rating on shares of Trane Technologies in a research report on Monday, April 20th. Finally, Evercore began coverage on Trane Technologies in a research report on Monday, April 13th. They set an "outperform" rating and a $535.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $506.56.

Insider Activity

In other news, insider Donald E. Simmons sold 4,593 shares of the 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 owned 3,819 shares of the company's stock, valued at approximately $1,909,500. This represents a 54.60% decrease in their position. The sale 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, CFO Christopher J. Kuehn sold 8,619 shares of the firm's stock in a transaction that occurred on 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 completion of the sale, the chief financial officer owned 60,576 shares of the company's stock, valued at $27,259,200. This 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. Corporate insiders own 0.43% of the company's stock.

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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