Scissortail Wealth Management LLC Invests $325,000 in Trane Technologies plc (NYSE:TT)

Scissortail Wealth Management LLC purchased a new position in shares of Trane Technologies plc (NYSE:TT) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,275 shares of the company’s stock, valued at approximately $325,000.

Other hedge funds have also made changes to their positions in the company. Avior Wealth Management LLC lifted its stake in Trane Technologies by 369.5% during the fourth quarter. Avior Wealth Management LLC now owns 831 shares of the company’s stock worth $203,000 after purchasing an additional 654 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Trane Technologies by 60.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 112,239 shares of the company’s stock worth $27,375,000 after purchasing an additional 42,409 shares during the last quarter. Everence Capital Management Inc. lifted its stake in Trane Technologies by 17.0% during the fourth quarter. Everence Capital Management Inc. now owns 20,980 shares of the company’s stock worth $5,117,000 after purchasing an additional 3,050 shares during the last quarter. Keel Point LLC lifted its stake in Trane Technologies by 3.0% during the fourth quarter. Keel Point LLC now owns 1,326 shares of the company’s stock worth $323,000 after purchasing an additional 39 shares during the last quarter. Finally, Cullen Investment Group LTD. bought a new position in Trane Technologies during the fourth quarter worth $6,738,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Wells Fargo & Company raised their target price on Trane Technologies from $200.00 to $246.00 and gave the company an “underweight” rating in a research note on Tuesday, December 19th. Barclays raised their target price on Trane Technologies from $286.00 to $325.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. Citigroup raised their target price on Trane Technologies from $309.00 to $355.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Royal Bank of Canada lifted their price objective on shares of Trane Technologies from $231.00 to $246.00 and gave the company a “sector perform” rating in a research note on Friday, February 2nd. Finally, Stephens lifted their price objective on shares of Trane Technologies from $235.00 to $280.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 6th. One analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Trane Technologies has a consensus rating of “Hold” and an average target price of $251.83.

Trane Technologies Stock Up 0.6 %

Shares of Trane Technologies stock traded up $1.75 during trading on Wednesday, hitting $295.63. 752,199 shares of the stock traded hands, compared to its average volume of 766,275. The stock has a market cap of $67.13 billion, a P/E ratio of 33.64, a PEG ratio of 2.48 and a beta of 1.05. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.78 and a current ratio of 1.13. Trane Technologies plc has a twelve month low of $162.04 and a twelve month high of $306.98. The company has a fifty day moving average price of $288.63 and a two-hundred day moving average price of $249.71.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Thursday, February 1st. The company reported $2.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.13 by $0.04. Trane Technologies had a return on equity of 32.01% and a net margin of 11.45%. The business had revenue of $4.42 billion during the quarter, compared to analyst estimates of $4.43 billion. During the same period in the previous year, the company earned $1.82 EPS. The firm’s revenue was up 8.6% on a year-over-year basis. Equities research analysts predict that Trane Technologies plc will post 10.2 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be issued a $0.84 dividend. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $3.36 annualized dividend and a yield of 1.14%. Trane Technologies’s dividend payout ratio (DPR) is currently 38.23%.

Insider Buying and Selling

In other Trane Technologies news, CFO Christopher J. Kuehn sold 3,762 shares of Trane Technologies stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $286.48, for a total value of $1,077,737.76. Following the transaction, the chief financial officer now directly owns 61,691 shares of the company’s stock, valued at approximately $17,673,237.68. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Trane Technologies news, CEO David S. Regnery sold 6,990 shares of Trane Technologies stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $286.19, for a total value of $2,000,468.10. Following the transaction, the chief executive officer now directly owns 113,874 shares of the company’s stock, valued at approximately $32,589,600.06. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Christopher J. Kuehn sold 3,762 shares of Trane Technologies stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $286.48, for a total value of $1,077,737.76. Following the completion of the transaction, the chief financial officer now directly owns 61,691 shares in the company, valued at $17,673,237.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,874 shares of company stock worth $8,462,825. 0.39% of the stock is currently owned by insiders.

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.