Polar Asset Management Partners Inc. Buys 1,600 Shares of Trane Technologies plc (NYSE:TT)

Polar Asset Management Partners Inc. lifted its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 22.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,600 shares of the company's stock after acquiring an additional 1,600 shares during the quarter. Polar Asset Management Partners Inc.'s holdings in Trane Technologies were worth $3,176,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of TT. Minot DeBlois Advisors LLC purchased a new stake in Trane Technologies during the fourth quarter worth $26,000. Vermillion & White Wealth Management Group LLC purchased a new position in Trane Technologies in the fourth quarter valued at about $28,000. Sound Income Strategies LLC raised its stake in Trane Technologies by 1,314.3% during the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company's stock valued at $37,000 after buying an additional 92 shares in the last quarter. Flagship Wealth Advisors LLC bought a new position in shares of Trane Technologies in the 4th quarter worth about $37,000. Finally, Golden State Wealth Management LLC bought a new position in Trane Technologies during the 4th quarter worth $39,000. Institutional investors and hedge funds own 82.97% of the company's stock.

Insider Buying and Selling at Trane Technologies

In related news, insider Donald E. Simmons sold 3,571 shares of the company's stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $380.00, for a total transaction of $1,356,980.00. Following the sale, the insider now directly owns 3,593 shares of the company's stock, valued at approximately $1,365,340. This represents a 49.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.38% of the stock is currently owned by insiders.

Trane Technologies Price Performance

NYSE TT traded down $2.12 on Friday, hitting $430.17. The company had a trading volume of 2,264,866 shares, compared to its average volume of 1,355,140. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88. The company's fifty day moving average price is $373.99 and its 200-day moving average price is $375.76. The company has a market capitalization of $95.94 billion, a PE ratio of 38.24, a PEG ratio of 2.50 and a beta of 1.14. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $436.61.

Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings results 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 return on equity of 35.37% and a net margin of 12.94%. The business had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.46 billion. During the same period last year, the business posted $1.94 earnings per share. The company's quarterly revenue was up 11.2% on a year-over-year basis. As a group, analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be given a dividend of $0.94 per share. The ex-dividend date is Friday, June 6th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.87%. Trane Technologies's payout ratio is 31.28%.

Analysts Set New Price Targets

TT has been the topic of several research reports. Robert W. Baird upped their price target on Trane Technologies from $360.00 to $396.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. HSBC upgraded shares of Trane Technologies from a "hold" rating to a "buy" rating and increased their target price for the company from $405.00 to $415.00 in a research note on Friday, April 25th. Royal Bank of Canada increased their target price on shares of Trane Technologies from $363.00 to $408.00 and gave the stock a "sector perform" rating in a research report on Thursday, May 1st. Stephens upgraded Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 price objective on the stock in a research report on Thursday, May 1st. Finally, Hsbc Global Res raised shares of Trane Technologies from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 25th. One analyst has rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $427.47.

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.