Entropy Technologies LP bought a new stake in shares of Trane Technologies plc (NYSE:TT - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 37,945 shares of the company's stock, valued at approximately $14,768,000. Trane Technologies comprises 0.8% of Entropy Technologies LP's investment portfolio, making the stock its 13th largest holding.
Several other institutional investors have also added to or reduced their stakes in TT. Brighton Jones LLC boosted its stake in Trane Technologies by 60.0% during the 4th quarter. Brighton Jones LLC now owns 6,194 shares of the company's stock valued at $2,288,000 after purchasing an additional 2,323 shares during the last quarter. Sivia Capital Partners LLC boosted its stake in Trane Technologies by 22.4% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,665 shares of the company's stock valued at $728,000 after purchasing an additional 305 shares during the last quarter. Schnieders Capital Management LLC. purchased a new stake in Trane Technologies during the 2nd quarter valued at $227,000. Nebula Research & Development LLC boosted its stake in Trane Technologies by 178.0% during the 2nd quarter. Nebula Research & Development LLC now owns 2,371 shares of the company's stock valued at $1,037,000 after purchasing an additional 1,518 shares during the last quarter. Finally, Treasurer of the State of North Carolina boosted its stake in Trane Technologies by 0.5% during the 2nd quarter. Treasurer of the State of North Carolina now owns 104,140 shares of the company's stock valued at $45,552,000 after purchasing an additional 497 shares during the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several analysts have commented on TT shares. Royal Bank Of Canada increased their target price on Trane Technologies from $440.00 to $501.00 and gave the company a "sector perform" rating in a research note on Friday, May 1st. KeyCorp increased their target price on Trane Technologies from $525.00 to $555.00 and gave the company an "overweight" rating in a research note on Friday, May 1st. BNP Paribas Exane began coverage on Trane Technologies in a research note on Tuesday, April 14th. They set an "outperform" rating and a $550.00 target price on the stock. JPMorgan Chase & Co. raised their price target on Trane Technologies from $460.00 to $476.00 and gave the stock a "neutral" rating in a research note on Thursday, May 14th. Finally, Barclays raised their price target on Trane Technologies from $507.00 to $585.00 and gave the stock an "overweight" rating in a research note on Friday, May 1st. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $509.12.
Check Out Our Latest Report on TT
Trane Technologies Stock Performance
TT stock opened at $457.69 on Friday. The company has a market cap of $101.17 billion, a P/E ratio of 35.40, a price-to-earnings-growth ratio of 2.11 and a beta of 1.20. Trane Technologies plc has a 1 year low of $348.06 and a 1 year high of $503.47. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.10 and a quick ratio of 0.77. The stock's fifty day moving average price is $463.44 and its 200-day moving average price is $433.14.
Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings results on Friday, May 1st. The company reported $2.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.53 by $0.10. The firm had revenue of $4.97 billion for the quarter, compared to the consensus estimate of $4.81 billion. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The company's revenue for the quarter was up 6.0% on a year-over-year basis. During the same period last year, the business posted $2.45 EPS. On average, equities analysts forecast that Trane Technologies plc will post 14.88 earnings per share for the current year.
Trane Technologies Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 4th will be paid a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, September 4th. Trane Technologies's dividend payout ratio (DPR) is 32.48%.
Insider Buying and Selling at Trane Technologies
In related news, CFO Christopher J. Kuehn sold 8,619 shares of Trane Technologies stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $450.00, for a total transaction of $3,878,550.00. Following the transaction, the chief financial officer directly owned 60,576 shares in the company, valued at approximately $27,259,200. The trade was a 12.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Donald E. Simmons sold 4,593 shares of Trane Technologies stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $500.00, for a total value of $2,296,500.00. Following the transaction, the insider owned 3,819 shares in the company, valued at $1,909,500. This trade represents a 54.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is currently owned by insiders.
Trane Technologies Company Profile
(
Free Report)
Trane Technologies NYSE: TT is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.
In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.
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