Creekmur Asset Management LLC Takes $726,000 Position in Trane Technologies plc (NYSE:TT)

Creekmur Asset Management LLC acquired a new stake in shares of Trane Technologies plc (NYSE:TT) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,975 shares of the company’s stock, valued at approximately $726,000.

A number of other large investors have also recently made changes to their positions in TT. Tortoise Investment Management LLC lifted its position in Trane Technologies by 2,275.0% during the fourth quarter. Tortoise Investment Management LLC now owns 380 shares of the company’s stock valued at $93,000 after purchasing an additional 364 shares during the period. American International Group Inc. lifted its position in Trane Technologies by 2.2% during the fourth quarter. American International Group Inc. now owns 62,358 shares of the company’s stock valued at $15,209,000 after purchasing an additional 1,326 shares during the period. Syon Capital LLC lifted its position in Trane Technologies by 17.6% during the fourth quarter. Syon Capital LLC now owns 2,329 shares of the company’s stock valued at $568,000 after purchasing an additional 349 shares during the period. Virtu Financial LLC acquired a new position in Trane Technologies during the fourth quarter valued at $831,000. Finally, Cim LLC acquired a new position in Trane Technologies during the fourth quarter valued at $191,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Trading Down 1.2 %

Shares of TT stock traded down $3.93 during trading hours on Friday, hitting $329.64. The company had a trading volume of 875,965 shares, compared to its average volume of 1,068,255. The company’s fifty day moving average is $317.18 and its 200 day moving average is $282.69. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.13 and a quick ratio of 0.74. Trane Technologies plc has a fifty-two week low of $181.46 and a fifty-two week high of $338.09. The stock has a market capitalization of $74.61 billion, a PE ratio of 35.22, a price-to-earnings-growth ratio of 2.62 and a beta of 1.01.

Trane Technologies (NYSE:TT) last released its earnings results on Tuesday, April 30th. The company reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.30. Trane Technologies had a net margin of 11.81% and a return on equity of 32.78%. The company had revenue of $4.22 billion for the quarter, compared to analyst estimates of $3.99 billion. During the same period in the prior year, the business earned $1.41 EPS. The firm’s quarterly revenue was up 15.0% on a year-over-year basis. Research analysts expect that Trane Technologies plc will post 10.46 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be paid a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend is Friday, September 6th. Trane Technologies’s dividend payout ratio (DPR) is presently 35.90%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on TT. JPMorgan Chase & Co. upped their price objective on shares of Trane Technologies from $247.00 to $300.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. TD Cowen upped their price objective on shares of Trane Technologies from $325.00 to $360.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Robert W. Baird upped their price objective on shares of Trane Technologies from $315.00 to $344.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Wells Fargo & Company boosted their target price on shares of Trane Technologies from $281.00 to $295.00 and gave the stock an “underweight” rating in a research note on Thursday, May 2nd. Finally, UBS Group boosted their target price on shares of Trane Technologies from $330.00 to $375.00 and gave the stock a “buy” rating in a research note on Monday, June 3rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $309.79.

Insider Transactions at Trane Technologies

In other news, SVP Evan M. Turtz sold 8,988 shares of the firm’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $321.30, for a total value of $2,887,844.40. Following the completion of the sale, the senior vice president now owns 20,758 shares in the company, valued at approximately $6,669,545.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Christopher J. Kuehn sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $318.67, for a total value of $1,274,680.00. Following the completion of the sale, the chief financial officer now owns 61,293 shares in the company, valued at $19,532,240.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Evan M. Turtz sold 8,988 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $321.30, for a total transaction of $2,887,844.40. Following the completion of the sale, the senior vice president now owns 20,758 shares of the company’s stock, valued at approximately $6,669,545.40. The disclosure for this sale can be found here. Company insiders own 0.38% of the company’s stock.

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.