Regents Gate Capital LLP Boosts Stock Position in Trane Technologies plc (NYSE:TT)

Regents Gate Capital LLP raised its stake in Trane Technologies plc (NYSE:TT - Free Report) by 11.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,520 shares of the company's stock after acquiring an additional 3,078 shares during the period. Trane Technologies makes up about 4.4% of Regents Gate Capital LLP's portfolio, making the stock its 5th biggest holding. Regents Gate Capital LLP's holdings in Trane Technologies were worth $10,283,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TT. WFA Asset Management Corp raised its holdings in shares of Trane Technologies by 208.3% during the 1st quarter. WFA Asset Management Corp now owns 74 shares of the company's stock worth $25,000 after buying an additional 50 shares in the last quarter. Minot DeBlois Advisors LLC acquired a new position in shares of Trane Technologies during the 4th quarter worth $26,000. Vermillion & White Wealth Management Group LLC acquired a new position in shares of Trane Technologies during the 4th quarter worth $28,000. Opal Wealth Advisors LLC acquired a new position in shares of Trane Technologies during the 1st quarter worth $31,000. Finally, Tradewinds Capital Management LLC increased its holdings in Trane Technologies by 46.2% in the 1st quarter. Tradewinds Capital Management LLC now owns 95 shares of the company's stock worth $32,000 after purchasing an additional 30 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Trane Technologies

In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of the stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $380.00, for a total value of $1,356,980.00. Following the transaction, the insider owned 3,593 shares in the company, valued at approximately $1,365,340. This represents a 49.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.38% of the company's stock.

Trane Technologies Trading Up 0.7%

NYSE TT traded up $2.86 during trading hours on Friday, hitting $437.39. 944,543 shares of the company's stock were exchanged, compared to its average volume of 1,335,774. The stock has a 50-day simple moving average of $425.99 and a 200 day simple moving average of $381.18. The firm has a market cap of $97.55 billion, a price-to-earnings ratio of 36.39, a PEG ratio of 2.85 and a beta of 1.15. The company has a current ratio of 1.09, a quick ratio of 0.74 and a debt-to-equity ratio of 0.52. Trane Technologies plc has a 1-year low of $298.15 and a 1-year high of $438.95.

Trane Technologies (NYSE:TT - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $0.25. The business had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.46 billion. Trane Technologies had a return on equity of 36.10% and a net margin of 13.47%. The company's quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.94 earnings per share. On average, equities analysts forecast that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be issued a $0.94 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $3.76 annualized dividend and a yield of 0.86%. Trane Technologies's payout ratio is currently 31.28%.

Analyst Ratings Changes

A number of equities analysts have issued reports on TT shares. Barclays upped their target price on Trane Technologies from $476.00 to $480.00 and gave the stock an "overweight" rating in a report on Wednesday. Citigroup increased their price target on Trane Technologies from $415.00 to $445.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Hsbc Global Res raised Trane Technologies from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 25th. Royal Bank Of Canada increased their price target on Trane Technologies from $363.00 to $408.00 and gave the company a "sector perform" rating in a research note on Thursday, May 1st. Finally, Wells Fargo & Company increased their price target on Trane Technologies from $370.00 to $410.00 and gave the company an "underweight" rating in a research note on Tuesday, July 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 company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $434.00.

Trane Technologies 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.