Lockerman Financial Group Inc. Increases Stock Holdings in Trane Technologies plc (NYSE:TT)

Lockerman Financial Group Inc. lifted its stake in shares of Trane Technologies plc (NYSE:TT) by 9.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,143 shares of the company’s stock after buying an additional 100 shares during the quarter. Lockerman Financial Group Inc.’s holdings in Trane Technologies were worth $444,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of TT. GoalVest Advisory LLC lifted its position in Trane Technologies by 157.1% in the first 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 last quarter. Dixon Mitchell Investment Counsel Inc. purchased a new position in Trane Technologies during the 1st quarter worth approximately $27,000. BOK Financial Private Wealth Inc. acquired a new position in Trane Technologies during the first quarter worth approximately $30,000. Fortitude Family Office LLC boosted its holdings in shares of Trane Technologies by 63.2% in the second quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock valued at $37,000 after acquiring an additional 43 shares during the period. Finally, Triad Wealth Partners LLC purchased a new position in shares of Trane Technologies during the second quarter worth approximately $39,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Activity

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

Analyst Ratings Changes

TT has been the subject of a number of recent research reports. Wells Fargo & Company increased 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. Barclays raised their price target on Trane Technologies from $394.00 to $425.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Robert W. Baird upped their price objective on Trane Technologies from $360.00 to $365.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Stephens reiterated an “equal weight” rating and issued a $350.00 target price on shares of Trane Technologies in a research note on Monday, August 5th. Finally, The Goldman Sachs Group upped their price target on Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $367.33.

Trane Technologies Price Performance

Shares of TT traded down $7.47 during trading hours on Tuesday, reaching $397.50. The company had a trading volume of 1,134,031 shares, compared to its average volume of 1,097,084. The company has a current ratio of 1.17, a quick ratio of 0.84 and a debt-to-equity ratio of 0.62. Trane Technologies plc has a 12-month low of $184.02 and a 12-month high of $406.96. The firm has a 50 day simple moving average of $363.60 and a 200-day simple moving average of $336.95. The company has a market capitalization of $89.97 billion, a price-to-earnings ratio of 42.83, a PEG ratio of 2.75 and a beta of 1.01.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $3.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.08 by $0.22. The company had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.13 billion. Trane Technologies had a net margin of 12.33% and a return on equity of 33.97%. The company’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same period last year, the firm earned $2.68 EPS. Research analysts expect that Trane Technologies plc will post 10.88 earnings per share for the current year.

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend is Friday, December 6th. Trane Technologies’s dividend payout ratio (DPR) is 35.90%.

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.