Interval Partners LP Buys Shares of 133,022 Trane Technologies plc $TT

Key Points

• Interval Partners LP bought 133,022 shares of Trane Technologies (NYSE:TT) in Q3, a stake valued at about $56.13 million that represents roughly 0.06% ownership and is the firm's 20th-largest position.
• Trane raised its quarterly dividend to $1.05 per share (from $0.94), equivalent to a $4.20 annualized payout and ~1.0% yield; the dividend is payable March 31 with record and ex-dividend dates on March 6.
• Company insiders have been selling: CEO David S. Regnery sold 36,045 shares on March 6 (reducing his stake by 27.1%), and insiders disposed of 49,378 shares worth about $21.23 million over the last three months.

Interval Partners LP purchased a new stake in shares of Trane Technologies plc (NYSE:TT - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 133,022 shares of the company's stock, valued at approximately $56,130,000. Trane Technologies comprises about 0.9% of Interval Partners LP's holdings, making the stock its 20th biggest position. Interval Partners LP owned about 0.06% of Trane Technologies at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Financial Consulate Inc. purchased a new stake in Trane Technologies during the third quarter valued at approximately $25,000. Icon Advisers Inc. Co. purchased a new position in Trane Technologies in the second quarter worth $26,000. United Community Bank increased its position in shares of Trane Technologies by 134.4% during the third quarter. United Community Bank now owns 75 shares of the company's stock worth $32,000 after purchasing an additional 43 shares in the last quarter. Halbert Hargrove Global Advisors LLC lifted its holdings in shares of Trane Technologies by 34.2% during the 3rd quarter. Halbert Hargrove Global Advisors LLC now owns 102 shares of the company's stock valued at $43,000 after purchasing an additional 26 shares during the last quarter. Finally, Hantz Financial Services Inc. boosted its position in shares of Trane Technologies by 58.2% in the 3rd quarter. Hantz Financial Services Inc. now owns 106 shares of the company's stock worth $45,000 after purchasing an additional 39 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors.

Trane Technologies Stock Up 0.2%

Shares of TT stock opened at $422.66 on Friday. Trane Technologies plc has a twelve month low of $298.15 and a twelve month high of $479.37. The stock has a market cap of $93.55 billion, a P/E ratio of 32.56, a P/E/G ratio of 2.22 and a beta of 1.19. The stock has a 50 day moving average of $426.27 and a 200 day moving average of $417.25. The company has a current ratio of 1.25, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46.

Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly earnings data on Thursday, January 29th. The company reported $2.86 EPS for the quarter, topping analysts' consensus estimates of $2.81 by $0.05. The business had revenue of $5.14 billion for the quarter, compared to analysts' expectations of $5.09 billion. Trane Technologies had a net margin of 13.69% and a return on equity of 36.34%. The business's revenue was up 5.6% on a year-over-year basis. During the same quarter last year, the company earned $2.61 EPS. As a group, sell-side analysts expect that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 6th will be given a dividend of $1.05 per share. This is a boost from Trane Technologies's previous quarterly dividend of $0.94. This represents a $4.20 annualized dividend and a yield of 1.0%. The ex-dividend date is Friday, March 6th. Trane Technologies's dividend payout ratio (DPR) is 32.36%.

Insider Activity

In other Trane Technologies news, CEO David S. Regnery sold 36,045 shares of Trane Technologies stock in a transaction on Friday, March 6th. The shares were sold at an average price of $422.69, for a total value of $15,235,861.05. Following the completion of the transaction, the chief executive officer owned 96,948 shares of the company's stock, valued at approximately $40,978,950.12. The trade was a 27.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Donald E. Simmons sold 3,762 shares of the stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $422.70, for a total transaction of $1,590,197.40. Following the sale, the insider directly owned 3,819 shares in the company, valued at approximately $1,614,291.30. The trade was a 49.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 49,378 shares of company stock worth $21,228,464 over the last three months. Corporate insiders own 0.14% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Royal Bank Of Canada increased their price target on Trane Technologies from $469.00 to $470.00 and gave the company a "sector perform" rating in a research note on Friday, January 30th. Citigroup upped their price objective on shares of Trane Technologies from $513.00 to $525.00 and gave the company a "buy" rating in a report on Friday, January 30th. Oppenheimer lifted their target price on shares of Trane Technologies from $460.00 to $468.00 and gave the stock an "outperform" rating in a research note on Friday, January 30th. Wells Fargo & Company upped their price target on shares of Trane Technologies from $375.00 to $400.00 and gave the company an "underweight" rating in a research note on Friday, January 30th. Finally, Barclays boosted their price objective on shares of Trane Technologies from $505.00 to $507.00 and gave the company an "overweight" rating in a report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $484.67.

Trane Technologies Profile

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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