Everpar Advisors LLC Invests $485,000 in Trane Technologies plc (NYSE:TT)

Everpar Advisors LLC bought a new position in shares of Trane Technologies plc (NYSE:TT) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,987 shares of the company’s stock, valued at approximately $485,000.

Several other hedge funds also recently made changes to their positions in TT. International Assets Investment Management LLC boosted its position in shares of Trane Technologies by 24,670.7% during the 4th quarter. International Assets Investment Management LLC now owns 1,034,423 shares of the company’s stock worth $252,296,000 after acquiring an additional 1,030,247 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Trane Technologies by 5.4% in the third quarter. JPMorgan Chase & Co. now owns 17,085,662 shares of the company’s stock valued at $3,466,852,000 after buying an additional 880,583 shares in the last quarter. FMR LLC boosted its position in Trane Technologies by 12.4% in the third quarter. FMR LLC now owns 5,743,154 shares of the company’s stock valued at $1,165,343,000 after buying an additional 632,598 shares in the last quarter. Wellington Management Group LLP boosted its position in Trane Technologies by 36.4% in the third quarter. Wellington Management Group LLP now owns 1,639,058 shares of the company’s stock valued at $332,581,000 after buying an additional 436,997 shares in the last quarter. Finally, Alphinity Investment Management Pty Ltd boosted its position in Trane Technologies by 31.4% in the third quarter. Alphinity Investment Management Pty Ltd now owns 1,812,549 shares of the company’s stock valued at $367,784,000 after buying an additional 433,388 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on TT. TD Cowen lifted their price target on shares of Trane Technologies from $325.00 to $360.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Barclays lifted their price target on shares of Trane Technologies from $286.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. The Goldman Sachs Group lifted their price target on shares of Trane Technologies from $287.00 to $326.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Citigroup lifted their price target on shares of Trane Technologies from $355.00 to $366.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Finally, Royal Bank of Canada lifted their target price on shares of Trane Technologies from $231.00 to $246.00 and gave the stock a “sector perform” rating in a research note on Friday, February 2nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $300.54.

Trane Technologies Stock Performance

TT traded up $0.15 during midday trading on Tuesday, reaching $325.89. The company had a trading volume of 790,439 shares, compared to its average volume of 1,026,853. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.74 and a current ratio of 1.13. The stock has a market cap of $73.77 billion, a PE ratio of 34.82, a P/E/G ratio of 2.54 and a beta of 1.01. Trane Technologies plc has a 12-month low of $162.04 and a 12-month high of $327.47. The business has a 50-day moving average price of $296.65 and a two-hundred day moving average price of $259.66.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $1.94 EPS for the quarter, beating analysts’ consensus estimates of $1.64 by $0.30. The company had revenue of $4.22 billion for the quarter, compared to analysts’ expectations of $3.99 billion. Trane Technologies had a net margin of 11.81% and a return on equity of 32.78%. Trane Technologies’s revenue was up 15.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.41 EPS. On average, sell-side analysts expect that Trane Technologies plc will post 10.48 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend is Thursday, June 6th. Trane Technologies’s payout ratio is 35.90%.

Insider Transactions at Trane Technologies

In other news, SVP Keith A. Sultana sold 1,983 shares of the stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $272.26, for a total value of $539,891.58. Following the transaction, the senior vice president now owns 42,575 shares of the company’s stock, valued at approximately $11,591,469.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Christopher J. Kuehn sold 3,762 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $286.48, for a total value of $1,077,737.76. Following the completion of the sale, the chief financial officer now owns 61,691 shares of the company’s stock, valued at approximately $17,673,237.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Keith A. Sultana sold 1,983 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $272.26, for a total transaction of $539,891.58. Following the completion of the sale, the senior vice president now directly owns 42,575 shares of the company’s stock, valued at approximately $11,591,469.50. The disclosure for this sale can be found here. Insiders have sold 28,237 shares of company stock valued at $8,024,534 in the last quarter. Insiders own 0.39% of the company’s stock.

Trane Technologies 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.