Patton Fund Management Inc. Has $5.54 Million Position in Trane Technologies plc (NYSE:TT)

Patton Fund Management Inc. reduced its holdings in Trane Technologies plc (NYSE:TT) by 5.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 14,257 shares of the company’s stock after selling 764 shares during the quarter. Patton Fund Management Inc.’s holdings in Trane Technologies were worth $5,542,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. nVerses Capital LLC acquired a new stake in Trane Technologies during the third quarter worth about $1,011,000. Walter Public Investments Inc. grew its position in Trane Technologies by 1.3% during the third quarter. Walter Public Investments Inc. now owns 55,868 shares of the company’s stock worth $21,718,000 after buying an additional 717 shares in the last quarter. Kowal Investment Group LLC grew its position in Trane Technologies by 58.2% during the third quarter. Kowal Investment Group LLC now owns 1,286 shares of the company’s stock worth $500,000 after buying an additional 473 shares in the last quarter. SPC Financial Inc. grew its position in Trane Technologies by 7.4% during the third quarter. SPC Financial Inc. now owns 1,314 shares of the company’s stock worth $511,000 after buying an additional 91 shares in the last quarter. Finally, McKinley Carter Wealth Services Inc. acquired a new stake in Trane Technologies during the third quarter worth about $214,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Trane Technologies Trading Up 1.2 %

TT traded up $4.68 during trading on Thursday, reaching $399.92. 311,759 shares of the company’s stock were exchanged, compared to its average volume of 1,095,384. The company’s fifty day moving average price is $366.53 and its 200-day moving average price is $338.04. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.84 and a current ratio of 1.17. Trane Technologies plc has a fifty-two week low of $184.02 and a fifty-two week high of $406.96. The firm has a market capitalization of $90.52 billion, a PE ratio of 42.64, a P/E/G ratio of 2.75 and a beta of 1.01.

Trane Technologies (NYSE:TT) last released its earnings results on Wednesday, July 31st. The company reported $3.30 EPS for the quarter, topping analysts’ consensus estimates of $3.08 by $0.22. Trane Technologies had a net margin of 12.33% and a return on equity of 33.97%. The firm had revenue of $5.31 billion during the quarter, compared to analyst estimates of $5.13 billion. During the same quarter in the previous year, the business earned $2.68 EPS. The business’s quarterly revenue was up 12.8% compared to the same quarter last year. As a group, equities analysts forecast that Trane Technologies plc will post 10.88 EPS for the current year.

Trane Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 0.84%. The ex-dividend date of this dividend is Friday, December 6th. Trane Technologies’s dividend payout ratio (DPR) is 35.90%.

Insider Activity

In related news, CEO David S. Regnery sold 29,450 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $321.25, for a total value of $9,460,812.50. Following the sale, the chief executive officer now directly owns 132,946 shares of the company’s stock, valued at approximately $42,708,902.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Trane Technologies news, EVP Raymond D. Pittard sold 1,805 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total transaction of $593,213.25. Following the sale, the executive vice president now directly owns 83,517 shares of the company’s stock, valued at $27,447,862.05. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO David S. Regnery sold 29,450 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $321.25, for a total transaction of $9,460,812.50. Following the sale, the chief executive officer now directly owns 132,946 shares in the company, valued at $42,708,902.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.38% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

TT has been the subject of a number of analyst reports. Wells Fargo & Company raised their price target on shares of Trane Technologies from $320.00 to $360.00 and gave the stock an “underweight” rating in a research note on Monday, October 7th. The Goldman Sachs Group raised their price target on shares of Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Mizuho raised their price target on shares of Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a research note on Thursday. Morgan Stanley initiated coverage on shares of Trane Technologies in a research note on Friday, September 6th. They set an “overweight” rating and a $425.00 price target for the company. Finally, Barclays raised their price target on shares of Trane Technologies from $394.00 to $425.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Trane Technologies has an average rating of “Hold” and a consensus target price of $373.58.

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.