Covalis Capital LLP Takes Position in Trane Technologies plc (NYSE:TT)

Covalis Capital LLP bought a new position in Trane Technologies plc (NYSE:TT - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The firm bought 10,007 shares of the company's stock, valued at approximately $3,696,000.

Other large investors have also recently modified their holdings of the company. Global Wealth Strategies & Associates purchased a new stake in Trane Technologies in the fourth quarter worth $26,000. Sound Income Strategies LLC boosted its position in shares of Trane Technologies by 1,314.3% during the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company's stock valued at $37,000 after buying an additional 92 shares during the last quarter. Flagship Wealth Advisors LLC purchased a new position in Trane Technologies in the 4th quarter worth about $37,000. Golden State Wealth Management LLC bought a new stake in shares of Trane Technologies in the fourth quarter worth approximately $39,000. Finally, BankPlus Trust Department purchased a new position in shares of Trane Technologies during the fourth quarter valued at approximately $45,000. Institutional investors own 82.97% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on TT shares. Royal Bank of Canada raised their price objective on shares of Trane Technologies from $390.00 to $395.00 and gave the stock a "sector perform" rating in a report on Friday, January 3rd. JPMorgan Chase & Co. decreased their target price on shares of Trane Technologies from $396.00 to $323.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Melius Research restated a "hold" rating and set a $398.00 price objective on shares of Trane Technologies in a research report on Tuesday, January 28th. Melius downgraded Trane Technologies from a "buy" rating to a "hold" rating and set a $398.00 target price on the stock. in a research note on Tuesday, January 28th. Finally, Barclays reduced their price objective on shares of Trane Technologies from $500.00 to $475.00 and set an "overweight" rating on the stock in a research report on Monday, March 10th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $405.31.

Insider Transactions at Trane Technologies

In other Trane Technologies news, SVP Mairead Magner sold 198 shares of the company's stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $357.61, for a total transaction of $70,806.78. Following the transaction, the senior vice president now directly owns 13,401 shares in the company, valued at $4,792,331.61. This represents a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David S. Regnery sold 2,754 shares of the firm's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total value of $984,114.36. Following the transaction, the chief executive officer now owns 132,969 shares of the company's stock, valued at $47,515,142.46. This trade represents a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,234 shares of company stock worth $2,588,102 in the last ninety days. Insiders own 0.38% of the company's stock.

Trane Technologies Stock Up 2.1 %

TT traded up $7.03 on Thursday, hitting $342.90. The company had a trading volume of 549,552 shares, compared to its average volume of 1,605,843. The stock has a fifty day moving average price of $343.08 and a 200-day moving average price of $373.66. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21. Trane Technologies plc has a 12-month low of $291.37 and a 12-month high of $422.00. The stock has a market capitalization of $76.91 billion, a price-to-earnings ratio of 30.48, a P/E/G ratio of 2.50 and a beta of 1.08.

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

Trane Technologies Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Friday, June 6th. This represents a $3.76 dividend on an annualized basis and a yield of 1.10%. Trane Technologies's payout ratio is presently 33.42%.

About Trane Technologies

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.