Dark Forest Capital Management LP Decreases Stake in Trane Technologies plc (NYSE:TT)

Dark Forest Capital Management LP cut its holdings in shares of Trane Technologies plc (NYSE:TT - Free Report) by 48.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 771 shares of the company's stock after selling 735 shares during the period. Dark Forest Capital Management LP's holdings in Trane Technologies were worth $285,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of TT. Global Wealth Strategies & Associates acquired a new position in Trane Technologies during the 4th quarter worth about $26,000. Sound Income Strategies LLC increased its stake in Trane Technologies by 1,314.3% in the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company's stock valued at $37,000 after purchasing an additional 92 shares during the period. Flagship Wealth Advisors LLC purchased a new stake in Trane Technologies during the 4th quarter valued at approximately $37,000. Golden State Wealth Management LLC acquired a new position in Trane Technologies in the 4th quarter valued at $39,000. Finally, BankPlus Trust Department purchased a new stake in shares of Trane Technologies in the fourth quarter valued at about $45,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TT has been the topic of a number of research reports. Hsbc Global Res upgraded Trane Technologies from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. Robert W. Baird raised their price target on Trane Technologies from $360.00 to $396.00 and gave the stock a "neutral" rating in a research report on Thursday. JPMorgan Chase & Co. boosted their price objective on shares of Trane Technologies from $323.00 to $334.00 and gave the company a "neutral" rating in a research note on Thursday. Barclays dropped their price target on shares of Trane Technologies from $500.00 to $475.00 and set an "overweight" rating for the company in a research note on Monday, March 10th. Finally, 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. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Trane Technologies has a consensus rating of "Moderate Buy" and an average price target of $421.07.

Insider Transactions at Trane Technologies

In other news, SVP Evan M. Turtz sold 318 shares of Trane Technologies stock in a transaction on Monday, February 10th. The shares were sold at an average price of $358.12, for a total transaction of $113,882.16. Following the transaction, the senior vice president now owns 20,513 shares in the company, valued at $7,346,115.56. This trade represents a 1.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Mairead Magner sold 198 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total transaction of $70,806.78. Following the completion of the sale, the senior vice president now directly owns 13,401 shares in the company, valued at approximately $4,792,331.61. This represents a 1.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,805 shares of company stock valued at $3,945,082 in the last 90 days. 0.38% of the stock is currently owned by corporate insiders.

Trane Technologies Price Performance

Shares of Trane Technologies stock traded up $7.06 during trading on Friday, reaching $399.68. 1,323,355 shares of the company's stock were exchanged, compared to its average volume of 1,317,059. Trane Technologies plc has a 1-year low of $298.15 and a 1-year high of $422.00. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21. The firm's 50-day moving average price is $343.25 and its 200 day moving average price is $372.19. The company has a market cap of $89.64 billion, a P/E ratio of 35.53, a PEG ratio of 2.50 and a beta of 1.08.

Trane Technologies (NYSE:TT - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $2.45 EPS for the quarter, beating analysts' consensus estimates of $2.20 by $0.25. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. The firm had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.46 billion. During the same period last year, the firm posted $1.94 earnings per share. The business's revenue for the quarter was up 11.2% on a year-over-year basis. As a group, research analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current 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 paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend is Friday, June 6th. Trane Technologies's dividend 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.