Regents Gate Capital LLP Increases Stake in Trane Technologies plc (NYSE:TT)

Regents Gate Capital LLP grew its holdings in Trane Technologies plc (NYSE:TT - Free Report) by 11.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,520 shares of the company's stock after purchasing an additional 3,078 shares during the period. Trane Technologies comprises approximately 4.4% of Regents Gate Capital LLP's investment portfolio, making the stock its 5th biggest holding. Regents Gate Capital LLP's holdings in Trane Technologies were worth $10,283,000 at the end of the most recent quarter.

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

Insider Activity at Trane Technologies

In other 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 value of $1,356,980.00. Following the completion of the transaction, the insider owned 3,593 shares of the company's stock, valued at $1,365,340. This represents a 49.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.38% of the company's stock.

Trane Technologies Price Performance

TT stock traded up $0.29 during midday trading on Thursday, reaching $433.90. The company had a trading volume of 465,697 shares, compared to its average volume of 1,330,785. The company has a market capitalization of $96.77 billion, a price-to-earnings ratio of 36.08, a price-to-earnings-growth ratio of 2.78 and a beta of 1.15. The stock has a 50 day moving average price of $424.42 and a 200-day moving average price of $380.38. Trane Technologies plc has a 1-year low of $298.15 and a 1-year high of $438.95. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.09 and a quick ratio of 0.74.

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

Trane Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be issued a $0.94 dividend. The ex-dividend date is Friday, September 5th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.87%. Trane Technologies's dividend payout ratio (DPR) is currently 31.28%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Trane Technologies from $334.00 to $400.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Hsbc Global Res raised shares of Trane Technologies from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. The Goldman Sachs Group boosted their target price on shares of Trane Technologies from $416.00 to $460.00 and gave the company a "neutral" rating in a research report on Tuesday. Barclays boosted their target price on shares of Trane Technologies from $476.00 to $480.00 and gave the company an "overweight" rating in a research report on Wednesday. Finally, Robert W. Baird boosted their target price on shares of Trane Technologies from $360.00 to $396.00 and gave the company a "neutral" rating in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $434.00.

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.