Qsemble Capital Management LP acquired a new stake in Trane Technologies plc (NYSE:TT - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 14,600 shares of the company's stock, valued at approximately $5,682,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. AlphaCore Capital LLC increased its holdings in Trane Technologies by 43.3% in the fourth quarter. AlphaCore Capital LLC now owns 2,990 shares of the company's stock valued at $1,164,000 after buying an additional 904 shares during the last quarter. DNB Asset Management AS increased its holdings in Trane Technologies by 3.0% in the fourth quarter. DNB Asset Management AS now owns 64,690 shares of the company's stock valued at $25,177,000 after buying an additional 1,878 shares during the last quarter. Applied Finance Capital Management LLC bought a new stake in Trane Technologies in the fourth quarter valued at about $907,000. Phoenix Financial Ltd. increased its holdings in Trane Technologies by 1,958.5% in the fourth quarter. Phoenix Financial Ltd. now owns 291,665 shares of the company's stock valued at $113,515,000 after buying an additional 277,496 shares during the last quarter. Finally, Thrivent Financial for Lutherans increased its holdings in Trane Technologies by 31.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 54,039 shares of the company's stock valued at $21,071,000 after buying an additional 12,892 shares during the last quarter. 82.97% of the stock is owned by institutional investors.
Trane Technologies Stock Performance
TT opened at $466.65 on Friday. The company has a market capitalization of $103.15 billion, a price-to-earnings ratio of 36.09, a price-to-earnings-growth ratio of 2.22 and a beta of 1.25. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.10 and a quick ratio of 0.77. Trane Technologies plc has a 1-year low of $348.06 and a 1-year high of $503.47. The business has a 50 day moving average price of $450.17 and a two-hundred day moving average price of $428.86.
Trane Technologies (NYSE:TT - Get Free Report) last released its earnings results on Friday, May 1st. The company reported $2.63 earnings per share for the quarter, topping analysts' consensus estimates of $2.53 by $0.10. The firm had revenue of $4.97 billion during the quarter, compared to the consensus estimate of $4.81 billion. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The firm's revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.45 earnings per share. Research analysts predict that Trane Technologies plc will post 14.87 EPS for the current fiscal year.
Trane Technologies Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, June 5th will be given a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Friday, June 5th. Trane Technologies's dividend payout ratio is 32.48%.
Insider Transactions at Trane Technologies
In other Trane Technologies news, CAO Elizabeth A. Elwell sold 635 shares of the company's stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $422.70, for a total value of $268,414.50. Following the completion of the sale, the chief accounting officer directly owned 7,100 shares in the company, valued at $3,001,170. This represents a 8.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Christopher J. Kuehn sold 8,619 shares of the company's stock in a transaction on Wednesday, April 8th. The shares were 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 directly owned 60,576 shares in the company, valued at $27,259,200. This represents a 12.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 53,654 shares of company stock valued at $23,269,523. 0.14% of the stock is currently owned by company insiders.
Analyst Ratings Changes
Several analysts recently weighed in on TT shares. KeyCorp boosted their price objective on Trane Technologies from $525.00 to $555.00 and gave the company an "overweight" rating in a report on Friday, May 1st. Royal Bank Of Canada lifted their target price on Trane Technologies from $440.00 to $501.00 and gave the company a "sector perform" rating in a research note on Friday, May 1st. Evercore assumed coverage on Trane Technologies in a research note on Monday, April 13th. They issued an "outperform" rating and a $535.00 target price for the company. Oppenheimer lifted their target price on Trane Technologies from $460.00 to $468.00 and gave the company an "outperform" rating in a research note on Friday, January 30th. Finally, Citigroup lifted their target price on Trane Technologies from $525.00 to $570.00 and gave the company a "buy" rating in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $506.56.
View Our Latest Stock Report on Trane Technologies
Trane Technologies Company Profile
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Free Report)
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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