Lyell Wealth Management LP Acquires Shares of 843 Trane Technologies plc (NYSE:TT)

Lyell Wealth Management LP acquired a new stake in shares of Trane Technologies plc (NYSE:TT) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 843 shares of the company’s stock, valued at approximately $206,000.

Other large investors have also added to or reduced their stakes in the company. Keel Point LLC lifted its holdings in shares of Trane Technologies by 3.0% during the fourth quarter. Keel Point LLC now owns 1,326 shares of the company’s stock valued at $323,000 after purchasing an additional 39 shares in the last quarter. Rosenberg Matthew Hamilton lifted its holdings in shares of Trane Technologies by 27.2% during the fourth quarter. Rosenberg Matthew Hamilton now owns 192 shares of the company’s stock valued at $47,000 after purchasing an additional 41 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Trane Technologies by 2.3% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,847 shares of the company’s stock valued at $450,000 after purchasing an additional 42 shares in the last quarter. Cedrus LLC increased its position in Trane Technologies by 2.6% during the fourth quarter. Cedrus LLC now owns 1,669 shares of the company’s stock valued at $407,000 after acquiring an additional 43 shares during the last quarter. Finally, Certuity LLC increased its position in Trane Technologies by 3.1% during the third quarter. Certuity LLC now owns 1,549 shares of the company’s stock valued at $314,000 after acquiring an additional 46 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Royal Bank of Canada upped their price objective on Trane Technologies from $231.00 to $246.00 and gave the company a “sector perform” rating in a research report on Friday, February 2nd. The Goldman Sachs Group upped their price objective on Trane Technologies from $253.00 to $287.00 and gave the company a “neutral” rating in a research report on Monday, February 5th. Stephens upped their price objective on Trane Technologies from $235.00 to $280.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 6th. Barclays upped their price objective on Trane Technologies from $286.00 to $325.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Finally, Citigroup upped their price target on Trane Technologies from $309.00 to $355.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Trane Technologies presently has an average rating of “Hold” and an average price target of $251.83.

Insider Activity at Trane Technologies

In other news, SVP Keith A. Sultana sold 1,637 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $267.74, for a total value of $438,290.38. Following the completion of the sale, the senior vice president now directly owns 42,374 shares of the company’s stock, valued at approximately $11,345,214.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Keith A. Sultana sold 1,637 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $267.74, for a total value of $438,290.38. Following the completion of the sale, the senior vice president now directly owns 42,374 shares of the company’s stock, valued at approximately $11,345,214.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Evan M. Turtz sold 2,821 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $288.33, for a total value of $813,378.93. Following the completion of the sale, the senior vice president now directly owns 20,729 shares of the company’s stock, valued at $5,976,792.57. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,874 shares of company stock valued at $8,462,825. Insiders own 0.39% of the company’s stock.

Trane Technologies Price Performance

Shares of NYSE TT traded up $3.19 during mid-day trading on Thursday, reaching $299.68. The company’s stock had a trading volume of 948,289 shares, compared to its average volume of 991,851. The firm has a market capitalization of $68.05 billion, a PE ratio of 33.26, a P/E/G ratio of 2.49 and a beta of 1.05. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.13 and a quick ratio of 0.78. The stock has a fifty day moving average of $291.04 and a two-hundred day moving average of $253.23. Trane Technologies plc has a 52 week low of $162.04 and a 52 week high of $306.98.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Thursday, February 1st. The company reported $2.17 EPS for the quarter, beating analysts’ consensus estimates of $2.13 by $0.04. Trane Technologies had a return on equity of 32.01% and a net margin of 11.45%. The company had revenue of $4.42 billion during the quarter, compared to analyst estimates of $4.43 billion. During the same period in the prior year, the company earned $1.82 earnings per share. The firm’s revenue was up 8.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Trane Technologies plc will post 10.2 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date of this dividend is Thursday, June 6th. Trane Technologies’s payout ratio is presently 38.23%.

Trane Technologies Company Profile

Trane Technologies plc, together with its subsidiaries, designs, manufactures, sells, and services of solutions for heating, ventilation, air conditioning, custom, and custom and transport refrigeration in Ireland and internationally. It offers air conditioners, exchangers, and handlers; airside and terminal devices; air sourced heat pumps, auxiliary power units; chillers; coils and condensers; gensets; dehumidifiers; ductless; furnaces; home automation products; humidifiers; indoor air quality assessments and related products; large and light commercial unitary products; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.