Renaissance Technologies LLC Makes New Investment in Trane Technologies plc (NYSE:TT)

Renaissance Technologies LLC bought a new stake in Trane Technologies plc (NYSE:TT - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 36,268 shares of the company's stock, valued at approximately $13,396,000.

Other institutional investors also recently added to or reduced their stakes in the company. Tidal Investments LLC boosted its stake in Trane Technologies by 22.2% during the 3rd quarter. Tidal Investments LLC now owns 15,827 shares of the company's stock worth $6,152,000 after purchasing an additional 2,874 shares during the period. Synovus Financial Corp increased its position in Trane Technologies by 16.8% in the 3rd quarter. Synovus Financial Corp now owns 8,828 shares of the company's stock valued at $3,431,000 after acquiring an additional 1,271 shares during the period. Ameritas Advisory Services LLC purchased a new stake in Trane Technologies during the 4th quarter valued at approximately $468,000. HB Wealth Management LLC lifted its position in Trane Technologies by 14.3% during the 4th quarter. HB Wealth Management LLC now owns 5,689 shares of the company's stock worth $2,101,000 after acquiring an additional 711 shares during the period. Finally, Crossmark Global Holdings Inc. grew its stake in shares of Trane Technologies by 31.2% in the 4th quarter. Crossmark Global Holdings Inc. now owns 29,057 shares of the company's stock valued at $10,733,000 after purchasing an additional 6,910 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Wells Fargo & Company decreased their price target on Trane Technologies from $380.00 to $360.00 and set an "underweight" rating for the company in a report on Friday, January 31st. Citigroup reduced their price objective on shares of Trane Technologies from $476.00 to $415.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Royal Bank of Canada increased their target price on Trane Technologies from $390.00 to $395.00 and gave the stock a "sector perform" rating in a research note on Friday, January 3rd. Melius Research reiterated a "hold" rating and issued a $398.00 price objective on shares of Trane Technologies in a research report on Tuesday, January 28th. Finally, Barclays lowered their price target on shares of Trane Technologies from $500.00 to $475.00 and set an "overweight" rating on the stock in a research note on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $405.31.

Trane Technologies Trading Up 0.8 %

NYSE:TT traded up $2.69 on Friday, reaching $333.33. The stock had a trading volume of 2,243,922 shares, compared to its average volume of 1,302,422. The firm's fifty day moving average is $344.98 and its two-hundred day moving average is $374.66. 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 company has a market cap of $74.76 billion, a price-to-earnings ratio of 29.63, a P/E/G ratio of 2.50 and a beta of 1.08. Trane Technologies plc has a 12-month low of $288.95 and a 12-month high of $422.00.

Trane Technologies (NYSE:TT - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.52 by $0.09. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. Equities analysts expect that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be given a $0.94 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.76 annualized dividend and a dividend yield of 1.13%. Trane Technologies's dividend payout ratio is presently 33.42%.

Insider Buying and Selling

In other Trane Technologies news, CFO Christopher J. Kuehn sold 876 shares of the business's stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $357.42, for a total transaction of $313,099.92. Following the transaction, the chief financial officer now owns 63,841 shares in the company, valued at $22,818,050.22. The trade was a 1.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO David S. Regnery sold 2,754 shares of the company's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $357.34, for a total value of $984,114.36. Following the completion of the transaction, the chief executive officer now owns 132,969 shares of the company's stock, valued at approximately $47,515,142.46. This represents a 2.03 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,234 shares of company stock valued at $2,588,102. Insiders own 0.38% of the company's stock.

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.