Interval Partners LP Has $31.31 Million Holdings in Trane Technologies plc $TT

Key Points

• Interval Partners LP cut its Trane Technologies stake by 39.5% in the fourth quarter, selling 52,566 shares and ending with 80,456 shares valued at about $31.31 million.
• Trane Technologies reported better-than-expected Q1 results, with EPS of $2.63 versus $2.53 expected and revenue of $4.97 billion, up 6% year over year. Analysts now forecast full-year EPS of 14.88.
• The company also announced a quarterly dividend of $1.05 per share, while analysts remain generally constructive with an average rating of “Moderate Buy” and an average price target of $509.12.

Interval Partners LP lessened its stake in Trane Technologies plc (NYSE:TT - Free Report) by 39.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 80,456 shares of the company's stock after selling 52,566 shares during the quarter. Interval Partners LP's holdings in Trane Technologies were worth $31,313,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Fiduciary Family Office LLC boosted its holdings in shares of Trane Technologies by 1.5% in the 4th quarter. Fiduciary Family Office LLC now owns 1,573 shares of the company's stock valued at $612,000 after buying an additional 23 shares during the last quarter. Foster Dykema Cabot & Partners LLC lifted its holdings in Trane Technologies by 10.6% during the 4th quarter. Foster Dykema Cabot & Partners LLC now owns 239 shares of the company's stock valued at $93,000 after purchasing an additional 23 shares during the last quarter. Bridgewater Advisors Inc. lifted its holdings in Trane Technologies by 3.7% during the 3rd quarter. Bridgewater Advisors Inc. now owns 670 shares of the company's stock valued at $285,000 after purchasing an additional 24 shares during the last quarter. West Family Investments Inc. lifted its holdings in Trane Technologies by 2.3% during the 3rd quarter. West Family Investments Inc. now owns 1,072 shares of the company's stock valued at $452,000 after purchasing an additional 24 shares during the last quarter. Finally, Cresset Asset Management LLC lifted its holdings in Trane Technologies by 0.3% during the 3rd quarter. Cresset Asset Management LLC now owns 7,012 shares of the company's stock valued at $2,959,000 after purchasing an additional 24 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Insiders Place Their Bets

In related news, insider Donald E. Simmons sold 4,593 shares of the firm's stock in a transaction on Thursday, April 30th. The stock was 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 approximately $1,909,500. This trade represents a 54.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Christopher J. Kuehn sold 8,619 shares of the firm's stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $450.00, for a total value of $3,878,550.00. Following the completion of the transaction, the chief financial officer owned 60,576 shares in the company, valued at $27,259,200. The trade was a 12.46% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is currently owned by company insiders.

Trane Technologies Stock Down 0.6%

Shares of NYSE TT opened at $472.61 on Thursday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.10. Trane Technologies plc has a 52 week low of $348.06 and a 52 week high of $503.47. The stock has a market capitalization of $104.47 billion, a P/E ratio of 36.55, a PEG ratio of 2.19 and a beta of 1.20. The stock's fifty day moving average is $466.16 and its 200 day moving average is $434.44.

Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly earnings results on Friday, May 1st. The company reported $2.63 EPS for the quarter, topping analysts' consensus estimates of $2.53 by $0.10. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The company had revenue of $4.97 billion for the quarter, compared to analysts' expectations of $4.81 billion. During the same quarter last year, the business earned $2.45 earnings per share. Trane Technologies's revenue was up 6.0% on a year-over-year basis. Sell-side analysts forecast that Trane Technologies plc will post 14.88 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 4th will be given a $1.05 dividend. The ex-dividend date is Friday, September 4th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 0.9%. Trane Technologies's dividend payout ratio (DPR) is presently 32.48%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on TT shares. Barclays raised their price target on Trane Technologies from $507.00 to $585.00 and gave the company an "overweight" rating in a report on Friday, May 1st. KeyCorp raised their price target on Trane Technologies from $525.00 to $555.00 and gave the company an "overweight" rating in a report on Friday, May 1st. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Trane Technologies in a report on Monday, April 20th. JPMorgan Chase & Co. raised their price target on Trane Technologies from $460.00 to $476.00 and gave the company a "neutral" rating in a report on Thursday, May 14th. Finally, Evercore started coverage on Trane Technologies in a report on Monday, April 13th. They set an "outperform" rating and a $535.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Trane Technologies currently has an average rating of "Moderate Buy" and an average price target of $509.12.

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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