Chapin Davis Inc. Makes New Investment in Trane Technologies plc (NYSE:TT)

Chapin Davis Inc. purchased a new stake in Trane Technologies plc (NYSE:TT) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 6,291 shares of the company’s stock, valued at approximately $2,069,000.

A number of other institutional investors have also made changes to their positions in TT. Raymond James & Associates boosted its holdings in Trane Technologies by 2.2% in the 2nd quarter. Raymond James & Associates now owns 1,044,405 shares of the company’s stock valued at $343,536,000 after purchasing an additional 22,023 shares during the period. Values First Advisors Inc. grew its position in Trane Technologies by 1.1% during the second quarter. Values First Advisors Inc. now owns 7,790 shares of the company’s stock worth $2,562,000 after buying an additional 84 shares in the last quarter. Meridian Financial Partners LLC bought a new position in Trane Technologies during the second quarter valued at about $201,000. TCW Group Inc. raised its holdings in Trane Technologies by 10.4% in the 2nd quarter. TCW Group Inc. now owns 31,950 shares of the company’s stock valued at $10,509,000 after acquiring an additional 3,012 shares in the last quarter. Finally, Genesee Capital Advisors LLC bought a new stake in shares of Trane Technologies in the 2nd quarter worth approximately $218,000. 82.97% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

TT has been the subject of a number of recent research reports. Citigroup upped their target price on Trane Technologies from $355.00 to $366.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Mizuho upped their target price on shares of Trane Technologies from $280.00 to $325.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. TD Cowen raised their price target on shares of Trane Technologies from $325.00 to $360.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Stephens reiterated an “equal weight” rating and issued a $350.00 price objective on shares of Trane Technologies in a research note on Monday, August 5th. Finally, The Goldman Sachs Group raised their target price on Trane Technologies from $287.00 to $326.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. One 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, the company currently has an average rating of “Hold” and a consensus target price of $323.29.

Insider Transactions at Trane Technologies

In related news, 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 transaction, the executive vice president now owns 83,517 shares in the company, valued at $27,447,862.05. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Raymond D. Pittard sold 1,805 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total value of $593,213.25. Following the transaction, the executive vice president now directly owns 83,517 shares in the company, valued at $27,447,862.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO David S. Regnery sold 29,450 shares of the firm’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 transaction of $9,460,812.50. Following the completion of the transaction, the chief executive officer now directly owns 132,946 shares in the company, valued at $42,708,902.50. The disclosure for this sale can be found here. Insiders sold a total of 44,243 shares of company stock worth $14,216,550 over the last 90 days. 0.38% of the stock is owned by insiders.

Trane Technologies Price Performance

Shares of NYSE:TT traded down $6.55 during midday trading on Friday, reaching $341.30. The company’s stock had a trading volume of 969,923 shares, compared to its average volume of 1,132,039. The business’s fifty day simple moving average is $333.39 and its 200-day simple moving average is $312.09. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.17 and a quick ratio of 0.74. Trane Technologies plc has a fifty-two week low of $184.02 and a fifty-two week high of $351.41. The company has a market capitalization of $77.25 billion, a P/E ratio of 36.46, a P/E/G ratio of 2.50 and a beta of 1.01.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $3.30 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $5.13 billion. During the same quarter last year, the company posted $2.68 EPS. The company’s quarterly revenue was up 12.8% compared to the same quarter last year. As a group, equities research analysts expect that Trane Technologies plc will post 10.83 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders 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 annualized dividend and a dividend yield of 0.98%. Trane Technologies’s dividend payout ratio (DPR) is currently 35.90%.

Trane Technologies Company 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.