GAMMA Investing LLC Increases Stake in Trane Technologies plc (NYSE:TT)

GAMMA Investing LLC grew its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 35,458.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,015,792 shares of the company's stock after purchasing an additional 2,010,123 shares during the quarter. GAMMA Investing LLC owned approximately 0.90% of Trane Technologies worth $679,161,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Secured Retirement Advisors LLC raised its position in Trane Technologies by 0.6% in the 4th quarter. Secured Retirement Advisors LLC now owns 4,628 shares of the company's stock valued at $1,709,000 after purchasing an additional 28 shares during the last quarter. Catalina Capital Group LLC increased its stake in Trane Technologies by 3.2% in the 4th quarter. Catalina Capital Group LLC now owns 924 shares of the company's stock valued at $341,000 after buying an additional 29 shares during the period. Stratos Wealth Partners LTD. increased its stake in Trane Technologies by 0.5% in the 4th quarter. Stratos Wealth Partners LTD. now owns 5,538 shares of the company's stock valued at $2,046,000 after buying an additional 29 shares during the period. Kanawha Capital Management LLC increased its stake in Trane Technologies by 0.6% in the 4th quarter. Kanawha Capital Management LLC now owns 4,712 shares of the company's stock valued at $1,740,000 after buying an additional 29 shares during the period. Finally, Kestra Private Wealth Services LLC increased its stake in Trane Technologies by 0.3% in the 4th quarter. Kestra Private Wealth Services LLC now owns 9,173 shares of the company's stock valued at $3,388,000 after buying an additional 30 shares during the period. Hedge funds and other institutional investors own 82.97% of the company's stock.

Analysts Set New Price Targets

Several brokerages have issued reports on TT. Robert W. Baird boosted their price objective on shares of Trane Technologies from $360.00 to $396.00 and gave the company a "neutral" rating in a research note on Thursday, May 1st. JPMorgan Chase & Co. boosted their price objective on shares of Trane Technologies from $334.00 to $400.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Barclays dropped 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 note on Monday, March 10th. Citigroup boosted their price objective on shares of Trane Technologies from $415.00 to $445.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Finally, Stephens raised shares of Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 price target on the stock in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $427.47.

Trane Technologies Price Performance

Shares of Trane Technologies stock traded down $0.54 on Monday, hitting $429.73. The company's stock had a trading volume of 567,841 shares, compared to its average volume of 1,352,086. Trane Technologies plc has a 52-week low of $298.15 and a 52-week high of $436.61. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. The firm has a fifty day moving average price of $373.99 and a 200-day moving average price of $375.52. The company has a market capitalization of $95.84 billion, a P/E ratio of 38.20, a price-to-earnings-growth ratio of 2.50 and a beta of 1.14.

Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $2.45 EPS for the quarter, topping the consensus estimate of $2.20 by $0.25. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. The business had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.46 billion. During the same period in the previous year, the firm earned $1.94 EPS. The business's revenue for the quarter was up 11.2% compared to the same quarter last year. On average, equities research analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be issued a $0.94 dividend. The ex-dividend date is Friday, June 6th. This represents a $3.76 dividend on an annualized basis and a yield of 0.87%. Trane Technologies's dividend payout ratio (DPR) is 31.28%.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of the company's stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $380.00, for a total value of $1,356,980.00. Following the transaction, the insider now directly owns 3,593 shares in the company, valued at approximately $1,365,340. This represents a 49.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.38% of the stock is owned by insiders.

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.