Fruth Investment Management Sells 1,355 Shares of Trane Technologies plc $TT

Fruth Investment Management reduced its stake in shares of Trane Technologies plc (NYSE:TT) by 6.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 18,775 shares of the company’s stock after selling 1,355 shares during the period. Trane Technologies makes up about 2.0% of Fruth Investment Management’s holdings, making the stock its 8th largest position. Fruth Investment Management’s holdings in Trane Technologies were worth $7,307,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in TT. JPMorgan Chase & Co. boosted its position in shares of Trane Technologies by 10.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 15,525,010 shares of the company’s stock worth $6,550,975,000 after purchasing an additional 1,433,563 shares in the last quarter. Corient Private Wealth LLC boosted its position in shares of Trane Technologies by 135.4% during the 2nd quarter. Corient Private Wealth LLC now owns 735,589 shares of the company’s stock worth $321,757,000 after purchasing an additional 423,090 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of Trane Technologies by 13,460.8% during the 4th quarter. SG Americas Securities LLC now owns 423,504 shares of the company’s stock worth $164,828,000 after purchasing an additional 420,381 shares in the last quarter. Credit Agricole S A purchased a new stake in shares of Trane Technologies during the 3rd quarter worth $118,129,000. Finally, Danske Bank A S purchased a new stake in shares of Trane Technologies during the 3rd quarter worth $88,959,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Trane Technologies

In related news, CFO Christopher J. Kuehn sold 8,619 shares of the business’s stock in a transaction dated Wednesday, April 8th. The shares were sold at an average price of $450.00, for a total value of $3,878,550.00. Following the sale, the chief financial officer directly owned 60,576 shares in the company, valued at $27,259,200. The trade was a 12.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Donald E. Simmons sold 3,762 shares of the business’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $422.70, for a total transaction of $1,590,197.40. Following the completion of the sale, the insider owned 3,819 shares in the company, valued at $1,614,291.30. This represents a 49.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 57,997 shares of company stock valued at $25,107,014 over the last 90 days. 0.14% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have commented on TT. UBS Group decreased their target price on shares of Trane Technologies from $544.00 to $520.00 and set a “buy” rating on the stock in a research report on Monday, January 5th. Melius Research upgraded shares of Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 target price on the stock in a research report on Wednesday, January 7th. Evercore began coverage on shares of Trane Technologies in a research report on Monday. They set an “outperform” rating and a $535.00 target price on the stock. Oppenheimer boosted their target price on shares of Trane Technologies from $460.00 to $468.00 and gave the stock an “outperform” rating in a research report on Friday, January 30th. Finally, Morgan Stanley cut their price target on Trane Technologies from $550.00 to $535.00 and set an “overweight” rating for the company in a research note on Tuesday, January 13th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $491.47.

Trane Technologies Price Performance

Trane Technologies stock opened at $460.57 on Friday. Trane Technologies plc has a 52 week low of $318.08 and a 52 week high of $479.37. The company has a quick ratio of 0.92, a current ratio of 1.25 and a debt-to-equity ratio of 0.46. The firm’s 50-day simple moving average is $443.55 and its 200 day simple moving average is $421.15. The firm has a market capitalization of $101.94 billion, a PE ratio of 35.48, a P/E/G ratio of 2.44 and a beta of 1.21.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Thursday, January 29th. The company reported $2.86 EPS for the quarter, topping the consensus estimate of $2.81 by $0.05. Trane Technologies had a net margin of 13.69% and a return on equity of 36.34%. The business had revenue of $5.14 billion for the quarter, compared to analyst estimates of $5.09 billion. During the same period in the previous year, the firm earned $2.61 EPS. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. On average, equities research analysts predict that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 5th will be given a $1.05 dividend. The ex-dividend date is Friday, June 5th. This represents a $4.20 annualized dividend and a dividend yield of 0.9%. Trane Technologies’s payout ratio is currently 32.36%.

Trane Technologies Company Profile

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.