Bryce Point Capital LLC Invests $745,000 in Trane Technologies plc (NYSE:TT)

Key Points

• Bryce Point Capital LLC has acquired 2,226 shares of Trane Technologies plc, valued at approximately $745,000, indicating increased institutional interest in the company.
• Several analysts have recently upgraded Trane Technologies, with price targets raised, reflecting a positive outlook on the company's future performance.
• Trane Technologies reported a quarterly earnings per share (EPS) of $2.45, surpassing estimates and demonstrating a year-over-year revenue increase of 11.2%.

Bryce Point Capital LLC purchased a new stake in Trane Technologies plc (NYSE:TT - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,226 shares of the company's stock, valued at approximately $745,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nemes Rush Group LLC lifted its holdings in shares of Trane Technologies by 1.5% in the 1st quarter. Nemes Rush Group LLC now owns 35,030 shares of the company's stock valued at $11,802,000 after purchasing an additional 506 shares during the last quarter. TCW Group Inc. increased its position in Trane Technologies by 6.3% during the first quarter. TCW Group Inc. now owns 69,742 shares of the company's stock worth $23,497,000 after buying an additional 4,113 shares during the period. LPL Financial LLC lifted its stake in Trane Technologies by 7.4% in the first quarter. LPL Financial LLC now owns 216,325 shares of the company's stock valued at $72,884,000 after buying an additional 14,921 shares during the last quarter. Texas Yale Capital Corp. boosted its holdings in shares of Trane Technologies by 1.3% in the first quarter. Texas Yale Capital Corp. now owns 6,835 shares of the company's stock valued at $2,303,000 after acquiring an additional 90 shares during the period. Finally, Cornerstone Advisory LLC grew its position in shares of Trane Technologies by 2.8% during the first quarter. Cornerstone Advisory LLC now owns 2,206 shares of the company's stock worth $743,000 after acquiring an additional 60 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Citigroup upped their price target on shares of Trane Technologies from $445.00 to $502.00 and gave the company a "buy" rating in a research report on Monday, July 14th. Royal Bank Of Canada upped their target price on shares of Trane Technologies from $363.00 to $408.00 and gave the company a "sector perform" rating in a report on Thursday, May 1st. Wells Fargo & Company raised their price target on Trane Technologies from $370.00 to $410.00 and gave the stock an "underweight" rating in a report on Tuesday, July 1st. The Goldman Sachs Group upped their price objective on Trane Technologies from $416.00 to $460.00 and gave the company a "neutral" rating in a research note on Tuesday, July 8th. Finally, Hsbc Global Res raised Trane Technologies from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Trane Technologies has an average rating of "Moderate Buy" and an average target price of $441.40.

Insider Transactions at Trane Technologies

In other news, insider Donald E. Simmons sold 3,571 shares of Trane Technologies stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $380.00, for a total transaction of $1,356,980.00. Following the completion of the sale, the insider directly owned 3,593 shares in the company, valued at approximately $1,365,340. This trade 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. Company insiders own 0.38% of the company's stock.

Trane Technologies Price Performance

Shares of TT traded up $0.38 during mid-day trading on Monday, hitting $472.45. The company's stock had a trading volume of 1,209,811 shares, compared to its average volume of 1,020,104. The company has a current ratio of 1.09, a quick ratio of 0.74 and a debt-to-equity ratio of 0.52. Trane Technologies plc has a 1-year low of $298.15 and a 1-year high of $476.19. The firm has a market capitalization of $105.37 billion, a P/E ratio of 39.31, a P/E/G ratio of 3.07 and a beta of 1.15. The firm has a 50-day simple moving average of $433.99 and a 200 day simple moving average of $386.90.

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 36.10% and a net margin of 13.47%. 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. Analysts predict that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be given a dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $3.76 annualized dividend and a yield of 0.80%. Trane Technologies's payout ratio is currently 31.28%.

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.