Summit Financial LLC Purchases 1,478 Shares of Trane Technologies plc (NYSE:TT)

Summit Financial LLC raised its position in Trane Technologies plc (NYSE:TT) by 24.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,524 shares of the company’s stock after buying an additional 1,478 shares during the quarter. Summit Financial LLC’s holdings in Trane Technologies were worth $2,475,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Motco acquired a new stake in shares of Trane Technologies in the fourth quarter valued at approximately $27,000. Sachetta LLC acquired a new position in Trane Technologies in the 4th quarter valued at $27,000. GoalVest Advisory LLC lifted its position in shares of Trane Technologies by 157.1% during the 1st quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock valued at $27,000 after acquiring an additional 55 shares during the period. Dixon Mitchell Investment Counsel Inc. bought a new position in shares of Trane Technologies in the first quarter worth $27,000. Finally, BOK Financial Private Wealth Inc. bought a new position in shares of Trane Technologies in the 1st quarter valued at $30,000. Institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. UBS Group upped their price objective on Trane Technologies from $330.00 to $375.00 and gave the stock a “buy” rating in a research report on Monday, June 3rd. Robert W. Baird lifted their target price on Trane Technologies from $360.00 to $365.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Wells Fargo & Company raised their price objective on Trane Technologies from $310.00 to $315.00 and gave the stock an “underweight” rating in a research report on Thursday, August 1st. Stephens reiterated an “equal weight” rating and issued a $350.00 target price on shares of Trane Technologies in a report on Monday, August 5th. Finally, Barclays raised their price target on shares of Trane Technologies from $385.00 to $394.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Trane Technologies currently has an average rating of “Hold” and an average target price of $323.29.

Insider Activity

In other Trane Technologies news, CFO Christopher J. Kuehn sold 4,000 shares of Trane Technologies 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 sale, the chief financial officer now owns 61,293 shares of the company’s stock, valued at $19,532,240.31. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Trane Technologies news, CEO David S. Regnery sold 29,450 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $321.25, for a total value of $9,460,812.50. Following the completion of the sale, the chief executive officer now directly owns 132,946 shares of the company’s stock, valued at $42,708,902.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Christopher J. Kuehn sold 4,000 shares of the stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $318.67, for a total value of $1,274,680.00. Following the transaction, the chief financial officer now owns 61,293 shares of the company’s stock, valued at approximately $19,532,240.31. The disclosure for this sale can be found here. Insiders sold a total of 44,243 shares of company stock valued at $14,216,550 in the last ninety days. 0.38% of the stock is currently owned by insiders.

Trane Technologies Price Performance

Shares of NYSE TT opened at $361.66 on Monday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.84 and a current ratio of 1.17. The firm’s 50-day simple moving average is $337.00 and its 200 day simple moving average is $317.72. The stock has a market cap of $81.62 billion, a price-to-earnings ratio of 38.64, a PEG ratio of 2.51 and a beta of 1.01. Trane Technologies plc has a fifty-two week low of $184.02 and a fifty-two week high of $362.43.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Wednesday, July 31st. The company reported $3.30 EPS for the quarter, beating analysts’ consensus estimates of $3.08 by $0.22. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. The business had revenue of $5.31 billion during the quarter, compared to analyst estimates of $5.13 billion. During the same period in the prior year, the firm posted $2.68 EPS. Trane Technologies’s quarterly revenue was up 12.8% compared to the same quarter last year. As a group, research analysts anticipate that Trane Technologies plc will post 10.82 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be paid a $0.84 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $3.36 dividend on an annualized basis and a yield of 0.93%. Trane Technologies’s dividend payout ratio (DPR) is presently 35.90%.

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.