Balyasny Asset Management L.P. Raises Position in Trane Technologies plc (NYSE:TT)

Balyasny Asset Management L.P. boosted its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 0.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 294,342 shares of the company's stock after acquiring an additional 1,829 shares during the quarter. Balyasny Asset Management L.P. owned 0.13% of Trane Technologies worth $108,715,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Versant Capital Management Inc boosted its stake in shares of Trane Technologies by 41.9% in the fourth quarter. Versant Capital Management Inc now owns 606 shares of the company's stock valued at $224,000 after purchasing an additional 179 shares during the period. Nordea Investment Management AB lifted its holdings in Trane Technologies by 42.9% during the 4th quarter. Nordea Investment Management AB now owns 978,275 shares of the company's stock worth $361,874,000 after buying an additional 293,916 shares in the last quarter. Bank of New Hampshire boosted its position in Trane Technologies by 27.3% in the 4th quarter. Bank of New Hampshire now owns 5,709 shares of the company's stock valued at $2,109,000 after buying an additional 1,226 shares during the period. Diversified Trust Co grew its stake in shares of Trane Technologies by 58.7% in the fourth quarter. Diversified Trust Co now owns 5,253 shares of the company's stock worth $1,941,000 after acquiring an additional 1,943 shares in the last quarter. Finally, Sterneck Capital Management LLC increased its position in shares of Trane Technologies by 62.0% during the fourth quarter. Sterneck Capital Management LLC now owns 1,045 shares of the company's stock worth $386,000 after acquiring an additional 400 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Trane Technologies Stock Performance

NYSE TT traded up $4.04 during trading hours on Tuesday, hitting $406.94. 1,892,033 shares of the stock were exchanged, compared to its average volume of 1,322,305. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. The company has a market cap of $90.76 billion, a price-to-earnings ratio of 36.17, a price-to-earnings-growth ratio of 2.50 and a beta of 1.14. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $422.00. The stock has a 50-day moving average of $346.56 and a 200 day moving average of $372.09.

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

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be given a dividend of $0.94 per share. The ex-dividend date is Friday, June 6th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.92%. Trane Technologies's payout ratio is 31.28%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on TT shares. Robert W. Baird boosted their target price on Trane Technologies from $360.00 to $396.00 and gave the stock a "neutral" rating in a research note on Thursday, May 1st. Barclays cut their target price 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. HSBC upgraded shares of Trane Technologies from a "hold" rating to a "buy" rating and lifted their price target for the stock from $405.00 to $415.00 in a research note on Friday, April 25th. Stephens raised shares of Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 price objective on the stock in a research report on Thursday, May 1st. Finally, Wells Fargo & Company boosted their target price on shares of Trane Technologies from $330.00 to $370.00 and gave the stock an "underweight" rating in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Trane Technologies currently has an average rating of "Moderate Buy" and a consensus price target of $421.07.

Insider Transactions at Trane Technologies

In other news, CEO David S. Regnery sold 2,318 shares of the company's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $358.17, for a total value of $830,238.06. Following the sale, the chief executive officer now directly owns 126,831 shares in the company, valued at $45,427,059.27. This represents a 1.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Christopher J. Kuehn sold 770 shares of the business's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $358.39, for a total transaction of $275,960.30. Following the completion of the transaction, the chief financial officer now directly owns 62,221 shares of the company's stock, valued at $22,299,384.19. The trade was a 1.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,977 shares of company stock valued at $2,577,061 in the last quarter. 0.38% of the stock is currently owned by corporate insiders.

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.