AlTi Global Inc. Takes $374,000 Position in Trane Technologies plc (NYSE:TT)

AlTi Global Inc. purchased a new stake in shares of Trane Technologies plc (NYSE:TT - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,012 shares of the company's stock, valued at approximately $374,000.

Several other institutional investors have also added to or reduced their stakes in TT. Sound Income Strategies LLC increased its stake in Trane Technologies by 1,314.3% during the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company's stock worth $37,000 after acquiring an additional 92 shares during the last quarter. Flagship Wealth Advisors LLC purchased a new position in shares of Trane Technologies in the 4th quarter worth approximately $37,000. Golden State Wealth Management LLC bought a new position in shares of Trane Technologies during the 4th quarter valued at approximately $39,000. BankPlus Trust Department purchased a new stake in Trane Technologies during the 4th quarter valued at $45,000. Finally, Centricity Wealth Management LLC bought a new stake in Trane Technologies in the fourth quarter worth $55,000. Hedge funds and other institutional investors own 82.97% of the company's stock.

Insider Buying and Selling at Trane Technologies

In related news, CEO David S. Regnery sold 2,318 shares of the business's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $358.17, for a total transaction of $830,238.06. Following the transaction, the chief executive officer now directly owns 126,831 shares in the company, valued at $45,427,059.27. The trade was a 1.79 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Donald E. Simmons sold 3,571 shares of the company's stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $380.00, for a total value of $1,356,980.00. Following the transaction, the insider now directly owns 3,593 shares in the company, valued at $1,365,340. This represents a 49.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,977 shares of company stock worth $2,577,061 over the last quarter. Insiders own 0.38% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on TT. Melius Research reiterated a "hold" rating and set a $398.00 price objective on shares of Trane Technologies in a research report on Tuesday, January 28th. Melius lowered shares of Trane Technologies from a "buy" rating to a "hold" rating and set a $398.00 price objective on the stock. in a research report on Tuesday, January 28th. JPMorgan Chase & Co. raised their price objective on shares of Trane Technologies from $323.00 to $334.00 and gave the stock a "neutral" rating in a research note on Thursday, May 1st. UBS Group cut their target price on Trane Technologies from $500.00 to $470.00 and set a "buy" rating on the stock in a research note on Friday, January 31st. Finally, Barclays decreased their price target on Trane Technologies from $500.00 to $475.00 and set an "overweight" rating for the company in a research note on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Trane Technologies has a consensus rating of "Moderate Buy" and an average price target of $421.07.

Trane Technologies Stock Down 0.3 %

NYSE TT traded down $1.33 during trading on Friday, reaching $404.32. 1,914,403 shares of the company's stock traded hands, compared to its average volume of 1,338,942. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $422.00. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88. The firm has a market cap of $90.17 billion, a price-to-earnings ratio of 35.94, a price-to-earnings-growth ratio of 2.50 and a beta of 1.14. The company's 50 day simple moving average is $350.05 and its two-hundred day simple moving average is $372.29.

Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $2.45 EPS for the quarter, topping analysts' consensus estimates of $2.20 by $0.25. The company had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.46 billion. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. Trane Technologies's revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.94 earnings per share. As a group, sell-side analysts forecast that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date of this dividend is Friday, June 6th. Trane Technologies's payout ratio is currently 31.28%.

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.