Bearing Point Capital LLC purchased a new stake in Trane Technologies plc (NYSE:TT - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 16,734 shares of the company's stock, valued at approximately $6,181,000. Trane Technologies accounts for 1.3% of Bearing Point Capital LLC's portfolio, making the stock its 27th largest holding.
Several other hedge funds have also recently bought and sold shares of TT. Norges Bank acquired a new stake in Trane Technologies in the 4th quarter valued at about $1,117,816,000. Raymond James Financial Inc. bought a new position in Trane Technologies in the 4th quarter worth approximately $611,322,000. Northern Trust Corp lifted its holdings in Trane Technologies by 20.1% during the 4th quarter. Northern Trust Corp now owns 2,567,527 shares of the company's stock worth $948,316,000 after buying an additional 429,953 shares in the last quarter. BNP Paribas Financial Markets bought a new position in Trane Technologies in the 4th quarter valued at $137,999,000. Finally, Bank Julius Baer & Co. Ltd Zurich raised its position in shares of Trane Technologies by 455.2% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 427,226 shares of the company's stock worth $167,977,000 after acquiring an additional 350,277 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.
Trane Technologies Stock Up 1.0 %
Shares of NYSE TT traded up $4.04 during midday trading on Tuesday, reaching $406.94. The company's stock had a trading volume of 1,892,033 shares, compared to its average volume of 1,322,304. The stock has a 50 day simple moving average of $346.56 and a 200-day simple moving average of $372.09. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $90.76 billion, a price-to-earnings ratio of 36.17, a PEG ratio of 2.50 and a beta of 1.14. Trane Technologies plc has a fifty-two week low of $298.15 and a fifty-two week high of $422.00.
Trane Technologies (NYSE:TT - Get Free Report) last posted 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%. The company's quarterly revenue was up 11.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.94 EPS. Equities research analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current year.
Trane Technologies Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date of this dividend is Friday, June 6th. Trane Technologies's dividend payout ratio is currently 31.28%.
Analyst Ratings Changes
TT has been the subject of several recent research reports. Stephens raised Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 price objective for the company in a report on Thursday, May 1st. HSBC raised shares of Trane Technologies from a "hold" rating to a "buy" rating and lifted their target price for the stock from $405.00 to $415.00 in a report on Friday, April 25th. Melius lowered Trane Technologies from a "buy" rating to a "hold" rating and set a $398.00 price target on the stock. in a research report on Tuesday, January 28th. Barclays dropped their price objective on Trane Technologies from $500.00 to $475.00 and set an "overweight" rating for the company in a report on Monday, March 10th. Finally, UBS Group reduced their target price on Trane Technologies from $500.00 to $470.00 and set a "buy" rating on the stock in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $421.07.
Read Our Latest Research Report on TT
Insider Transactions at Trane Technologies
In related news, insider Donald E. Simmons sold 3,571 shares of the stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $380.00, for a total value of $1,356,980.00. Following the sale, the insider now owns 3,593 shares in the company, valued at approximately $1,365,340. This represents a 49.85 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Evan M. Turtz sold 318 shares of Trane Technologies stock in a transaction on Monday, February 10th. The stock was sold at an average price of $358.12, for a total transaction of $113,882.16. Following the transaction, the senior vice president now directly owns 20,513 shares of the company's stock, valued at approximately $7,346,115.56. This trade represents a 1.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,977 shares of company stock worth $2,577,061 in the last 90 days. Corporate insiders own 0.38% of the company's stock.
About Trane Technologies
(
Free Report)
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.
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