Oarsman Capital Inc. Makes New Investment in Trane Technologies plc $TT

Oarsman Capital Inc. acquired a new position in shares of Trane Technologies plc (NYSE:TT) during the second quarter, HoldingsChannel reports. The fund acquired 617 shares of the company’s stock, valued at approximately $270,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its position in Trane Technologies by 60.0% during the 4th quarter. Brighton Jones LLC now owns 6,194 shares of the company’s stock valued at $2,288,000 after purchasing an additional 2,323 shares during the period. Allspring Global Investments Holdings LLC lifted its position in Trane Technologies by 10.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 41,441 shares of the company’s stock valued at $14,158,000 after purchasing an additional 3,927 shares during the period. Ameritas Advisory Services LLC lifted its position in Trane Technologies by 6.9% during the 1st quarter. Ameritas Advisory Services LLC now owns 1,355 shares of the company’s stock valued at $492,000 after purchasing an additional 87 shares during the period. Mather Group LLC. lifted its position in Trane Technologies by 16.8% during the 1st quarter. Mather Group LLC. now owns 1,089 shares of the company’s stock valued at $367,000 after purchasing an additional 157 shares during the period. Finally, DAVENPORT & Co LLC lifted its position in Trane Technologies by 687.8% during the 1st quarter. DAVENPORT & Co LLC now owns 216,679 shares of the company’s stock valued at $72,773,000 after purchasing an additional 189,176 shares during the period. Institutional investors own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

TT has been the topic of a number of research reports. Morgan Stanley upped their target price on shares of Trane Technologies from $445.00 to $520.00 and gave the company an “overweight” rating in a research report on Thursday, July 31st. Weiss Ratings restated a “buy (b)” rating on shares of Trane Technologies in a research report on Wednesday, October 8th. Robert W. Baird increased their price target on shares of Trane Technologies from $396.00 to $450.00 and gave the company a “neutral” rating in a research report on Thursday, July 17th. Northcoast Research downgraded shares of Trane Technologies from a “buy” rating to a “neutral” rating in a research report on Friday, August 1st. Finally, Wells Fargo & Company increased their price target on shares of Trane Technologies from $410.00 to $415.00 and gave the company an “underweight” rating in a research report on Monday, October 6th. Six investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $464.29.

Insider Buying and Selling at Trane Technologies

In other news, CEO David S. Regnery sold 22,497 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $410.00, for a total transaction of $9,223,770.00. Following the completion of the transaction, the chief executive officer directly owned 123,713 shares of the company’s stock, valued at $50,722,330. This trade represents a 15.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.14% of the stock is owned by corporate insiders.

Trane Technologies Stock Performance

Shares of TT stock opened at $426.66 on Thursday. The company has a market capitalization of $94.94 billion, a P/E ratio of 33.84, a price-to-earnings-growth ratio of 2.65 and a beta of 1.12. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $476.18. The company’s 50 day moving average price is $416.34 and its two-hundred day moving average price is $417.50. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.10.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $3.88 earnings per share for the quarter, topping the consensus estimate of $3.79 by $0.09. The company had revenue of $5.75 billion during the quarter, compared to analysts’ expectations of $5.77 billion. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. The business’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period last year, the business earned $3.30 EPS. On average, analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Friday, December 5th will be paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, December 5th. Trane Technologies’s dividend payout ratio (DPR) is currently 29.82%.

About Trane Technologies

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.