Childress Capital Advisors LLC Takes Position in Trane Technologies plc (NYSE:TT)

Childress Capital Advisors LLC purchased a new stake in Trane Technologies plc (NYSE:TT) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 407 shares of the company’s stock, valued at approximately $59,000.

A number of other hedge funds and other institutional investors have also modified their holdings of TT. BlackRock Inc. boosted its stake in shares of Trane Technologies by 4.7% during the 4th quarter. BlackRock Inc. now owns 17,933,014 shares of the company’s stock valued at $2,603,156,000 after buying an additional 798,631 shares during the last quarter. FMR LLC raised its holdings in Trane Technologies by 52.3% in the fourth quarter. FMR LLC now owns 9,959,508 shares of the company’s stock valued at $1,445,722,000 after acquiring an additional 3,421,200 shares in the last quarter. Norges Bank bought a new position in Trane Technologies during the 4th quarter valued at $410,327,000. Dimensional Fund Advisors LP grew its holdings in Trane Technologies by 0.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,246,302 shares of the company’s stock worth $326,070,000 after acquiring an additional 11,506 shares in the last quarter. Finally, Federated Hermes Inc. increased its position in shares of Trane Technologies by 19.7% in the 4th quarter. Federated Hermes Inc. now owns 1,857,437 shares of the company’s stock worth $269,625,000 after purchasing an additional 306,090 shares during the last quarter. Hedge funds and other institutional investors own 79.85% of the company’s stock.

Shares of TT opened at $166.50 on Thursday. The business’s 50-day moving average price is $160.98 and its 200 day moving average price is $145.35. The company has a current ratio of 1.67, a quick ratio of 1.38 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $39.70 billion, a P/E ratio of 44.64, a P/E/G ratio of 2.51 and a beta of 0.95. Trane Technologies plc has a 1-year low of $73.73 and a 1-year high of $169.47.

Trane Technologies (NYSE:TT) last released its earnings results on Thursday, February 4th. The company reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.11. The business had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.08 billion. Trane Technologies had a net margin of 6.75% and a return on equity of 18.42%. The firm’s revenue for the quarter was down .2% on a year-over-year basis. On average, research analysts predict that Trane Technologies plc will post 4.29 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 31st. Shareholders of record on Friday, March 5th were paid a dividend of $0.59 per share. This is an increase from Trane Technologies’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend was Thursday, March 4th. Trane Technologies’s payout ratio is 37.05%.

In other Trane Technologies news, SVP Keith A. Sultana sold 4,914 shares of Trane Technologies stock in a transaction on Friday, February 5th. The shares were sold at an average price of $150.32, for a total transaction of $738,672.48. Following the completion of the sale, the senior vice president now owns 16,561 shares of the company’s stock, valued at approximately $2,489,449.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Marcia J. Avedon sold 2,737 shares of the business’s stock in a transaction on Tuesday, February 9th. The shares were sold at an average price of $147.16, for a total transaction of $402,776.92. 0.92% of the stock is owned by corporate insiders.

A number of equities analysts recently commented on TT shares. Morgan Stanley lifted their price target on Trane Technologies from $150.00 to $168.00 and gave the stock an “overweight” rating in a research note on Monday, February 8th. Credit Suisse Group boosted their price target on Trane Technologies from $158.00 to $166.00 and gave the company an “outperform” rating in a report on Monday, February 8th. Zacks Investment Research raised Trane Technologies from a “hold” rating to a “buy” rating and set a $188.00 price target on the stock in a research report on Wednesday, March 17th. Barclays lifted their price objective on shares of Trane Technologies from $173.00 to $180.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, Jefferies Financial Group raised their price target on shares of Trane Technologies from $140.00 to $160.00 and gave the stock a “hold” rating in a research report on Friday, January 15th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $139.00.

About Trane Technologies

Trane Technologies Plc engages in the provision of products, services, and solutions to enhance the quality, energy, and comfort of air in homes and buildings, transport and protect food and perishables and increase industrial productivity and efficiency. It operates through the following segments: Americas, EMEA, and Asia Pacific.

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Institutional Ownership by Quarter for Trane Technologies (NYSE:TT)

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