Firetrail Investments PTY Ltd. Has $11.43 Million Stock Position in Trane Technologies plc (NYSE:TT)

Key Points

• Firetrail Investments PTY Ltd. increased its stake in Trane Technologies plc by 3.5% during the 1st quarter, bringing its total shares to 33,558, valued at approximately $11.43 million.
• Trane Technologies recently declared a quarterly dividend of $0.94 per share, with a yield of 0.81%, signifying a 31.28% payout ratio.
• Analysts have been bullish on Trane Technologies, with several raising their price targets, including UBS Group, which increased its target from $470 to $500, reaffirming a "buy" rating.

Firetrail Investments PTY Ltd. raised its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 3.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 33,558 shares of the company's stock after buying an additional 1,138 shares during the quarter. Trane Technologies comprises 3.3% of Firetrail Investments PTY Ltd.'s portfolio, making the stock its 14th biggest position. Firetrail Investments PTY Ltd.'s holdings in Trane Technologies were worth $11,429,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. WFA Asset Management Corp grew its position in Trane Technologies by 208.3% during the first quarter. WFA Asset Management Corp now owns 74 shares of the company's stock worth $25,000 after buying an additional 50 shares in the last quarter. Minot DeBlois Advisors LLC bought a new stake in Trane Technologies in the fourth quarter worth approximately $26,000. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of Trane Technologies in the 4th quarter valued at about $28,000. Opal Wealth Advisors LLC bought a new position in shares of Trane Technologies in the first quarter valued at approximately $31,000. Finally, Bogart Wealth LLC boosted its holdings in shares of Trane Technologies by 97.9% in the first quarter. Bogart Wealth LLC now owns 93 shares of the company's stock worth $31,000 after acquiring an additional 46 shares during the period. Institutional investors and hedge funds own 82.97% of the company's stock.

Trane Technologies Stock Up 0.1%

NYSE TT traded up $0.38 during mid-day trading on Monday, reaching $472.45. 961,163 shares of the company's stock traded hands, compared to its average volume of 1,472,773. Trane Technologies plc has a 1-year low of $298.15 and a 1-year high of $476.19. The company has a current ratio of 1.09, a quick ratio of 0.74 and a debt-to-equity ratio of 0.52. The company has a market cap of $105.37 billion, a price-to-earnings ratio of 39.31, a P/E/G ratio of 3.07 and a beta of 1.15. The company has a fifty day simple moving average of $433.17 and a 200-day simple moving average of $386.23.

Trane Technologies (NYSE:TT - Get Free Report) last announced its quarterly earnings data 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 net margin of 13.47% and a return on equity of 36.10%. The firm had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.46 billion. During the same period in the previous year, the firm posted $1.94 earnings per share. The firm's revenue was up 11.2% on a year-over-year basis. As a group, equities research analysts expect that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be paid a dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.80%. Trane Technologies's dividend payout ratio (DPR) is presently 31.28%.

Insider Activity at Trane Technologies

In other news, insider Donald E. Simmons sold 3,571 shares of the firm's 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 transaction, the insider directly owned 3,593 shares of the company's stock, valued at $1,365,340. This trade represents a 49.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.38% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. HSBC upgraded Trane Technologies from a "hold" rating to a "buy" rating and boosted their price target for the company from $405.00 to $415.00 in a report on Friday, April 25th. UBS Group increased their price objective on shares of Trane Technologies from $470.00 to $500.00 and gave the company a "buy" rating in a report on Thursday, May 22nd. Hsbc Global Res upgraded shares of Trane Technologies from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. Stephens raised shares of Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 price target for the company in a research report on Thursday, May 1st. Finally, The Goldman Sachs Group lifted their price target on Trane Technologies from $416.00 to $460.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 8th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $441.40.

Trane Technologies Company 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.