Saxony Capital Management LLC Takes $229,000 Position in Trane Technologies plc (NYSE:TT)

Saxony Capital Management LLC bought a new position in Trane Technologies plc (NYSE:TT) during the third quarter, HoldingsChannel reports. The fund bought 590 shares of the company’s stock, valued at approximately $229,000.

Several other hedge funds have also bought and sold shares of TT. GoalVest Advisory LLC increased its stake in shares of Trane Technologies by 157.1% in the first quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock worth $27,000 after purchasing an additional 55 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of Trane Technologies in the first quarter valued at about $27,000. BOK Financial Private Wealth Inc. bought a new position in shares of Trane Technologies in the first quarter worth about $30,000. Fortitude Family Office LLC grew its position in shares of Trane Technologies by 63.2% during the second quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock worth $37,000 after purchasing an additional 43 shares in the last quarter. Finally, Triad Wealth Partners LLC bought a new stake in Trane Technologies during the 2nd quarter valued at approximately $39,000. Institutional investors own 82.97% of the company’s stock.

Insider Activity

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

Trane Technologies Stock Performance

Shares of NYSE:TT opened at $392.20 on Wednesday. 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 company has a market capitalization of $88.78 billion, a price-to-earnings ratio of 41.90, a PEG ratio of 2.75 and a beta of 1.01. The firm’s 50-day moving average is $371.79 and its 200 day moving average is $341.11.

Trane Technologies (NYSE:TT) last released its 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. The firm had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.13 billion. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. The company’s quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.68 earnings per share. Research analysts predict that Trane Technologies plc will post 10.88 EPS for the current year.

Trane Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th will be issued a dividend of $0.84 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.36 annualized dividend and a yield of 0.86%. Trane Technologies’s payout ratio is currently 35.90%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TT. Barclays upped their price target on Trane Technologies from $394.00 to $425.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Morgan Stanley began coverage on shares of Trane Technologies in a research note on Friday, September 6th. They set an “overweight” rating and a $425.00 target price for the company. Wells Fargo & Company boosted 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. Robert W. Baird increased their price objective on shares of Trane Technologies from $360.00 to $365.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Finally, Stephens reaffirmed an “equal weight” rating and issued a $350.00 target price on shares of Trane Technologies in a report on Monday, August 5th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $373.58.

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.