Elevation Point Wealth Partners LLC Increases Stake in Trane Technologies plc $TT

Elevation Point Wealth Partners LLC raised its position in shares of Trane Technologies plc (NYSE:TT) by 56.7% in the first quarter, Holdings Channel reports. The firm owned 5,216 shares of the company’s stock after acquiring an additional 1,887 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in Trane Technologies were worth $2,174,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Platform Technology Partners grew its holdings in shares of Trane Technologies by 8.1% during the first quarter. Platform Technology Partners now owns 2,391 shares of the company’s stock valued at $996,000 after buying an additional 180 shares during the last quarter. Peregrine Asset Advisers Inc. lifted its position in Trane Technologies by 20.3% in the 1st quarter. Peregrine Asset Advisers Inc. now owns 1,186 shares of the company’s stock valued at $494,000 after acquiring an additional 200 shares in the last quarter. Keybank National Association OH lifted its position in Trane Technologies by 1.8% in the 1st quarter. Keybank National Association OH now owns 33,128 shares of the company’s stock valued at $13,806,000 after acquiring an additional 582 shares in the last quarter. Physician Wealth Advisors Inc. boosted its stake in Trane Technologies by 192.6% during the 1st quarter. Physician Wealth Advisors Inc. now owns 79 shares of the company’s stock valued at $33,000 after purchasing an additional 52 shares during the last quarter. Finally, KPP Advisory Services LLC bought a new stake in shares of Trane Technologies in the 1st quarter worth $855,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Price Performance

NYSE TT opened at $477.76 on Friday. The business’s fifty day moving average price is $470.69 and its 200-day moving average price is $440.93. The stock has a market capitalization of $105.61 billion, a price-to-earnings ratio of 36.95, a PEG ratio of 2.20 and a beta of 1.19. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.10 and a quick ratio of 0.77. Trane Technologies plc has a 1-year low of $348.06 and a 1-year high of $505.87.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Friday, May 1st. The company reported $2.63 EPS for the quarter, topping the consensus estimate of $2.53 by $0.10. The company had revenue of $4.97 billion during the quarter, compared to analyst estimates of $4.81 billion. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.Trane Technologies’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.45 earnings per share. On average, equities analysts predict that Trane Technologies plc will post 14.9 earnings per share for the current year.

Trane Technologies Announces Dividend

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

Wall Street Analyst Weigh In

TT has been the subject of several recent analyst reports. Citigroup boosted their price target on Trane Technologies from $525.00 to $570.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. Sanford C. Bernstein assumed coverage on Trane Technologies in a report on Tuesday, June 9th. They issued an “outperform” rating and a $550.00 price objective for the company. JPMorgan Chase & Co. boosted their target price on Trane Technologies from $460.00 to $476.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Weiss Ratings restated a “buy (b)” rating on shares of Trane Technologies in a research note on Monday, April 20th. Finally, Barclays raised their price target on shares of Trane Technologies from $507.00 to $585.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have issued a Hold rating and one has issued 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 $509.12.

Insider Activity

In other news, insider Donald E. Simmons sold 4,593 shares of the stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $500.00, for a total value of $2,296,500.00. Following the transaction, the insider owned 3,819 shares in the company, valued at $1,909,500. This represents a 54.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 transaction of $3,878,550.00. Following the completion of the transaction, the chief financial officer directly owned 60,576 shares in the company, valued at approximately $27,259,200. The trade was 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. 0.43% of the stock is owned by corporate insiders.

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.