Sivia Capital Partners LLC Raises Stake in Trane Technologies plc (NYSE:TT)

Sivia Capital Partners LLC boosted its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 98.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,360 shares of the company's stock after acquiring an additional 674 shares during the period. Sivia Capital Partners LLC's holdings in Trane Technologies were worth $458,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its position in shares of Trane Technologies by 60.0% during the fourth quarter. Brighton Jones LLC now owns 6,194 shares of the company's stock valued at $2,288,000 after buying an additional 2,323 shares during the last quarter. Stratos Wealth Partners LTD. raised its position in shares of Trane Technologies by 0.5% during the fourth quarter. Stratos Wealth Partners LTD. now owns 5,538 shares of the company's stock valued at $2,046,000 after buying an additional 29 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Trane Technologies by 1.1% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 573,573 shares of the company's stock valued at $211,849,000 after buying an additional 6,494 shares during the last quarter. Lecap Asset Management Ltd. bought a new stake in shares of Trane Technologies during the fourth quarter valued at approximately $1,053,000. Finally, Golden State Wealth Management LLC bought a new stake in shares of Trane Technologies during the fourth quarter valued at approximately $39,000. Institutional investors own 82.97% of the company's stock.

Wall Street Analyst Weigh In

TT has been the topic of several recent analyst reports. Hsbc Global Res upgraded shares of Trane Technologies from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. Robert W. Baird lifted their price objective 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. Stephens upgraded shares of 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. Royal Bank of Canada boosted their price target 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. Finally, HSBC upgraded shares of Trane Technologies from a "hold" rating to a "buy" rating and boosted their price target for the stock from $405.00 to $415.00 in a research report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Trane Technologies has a consensus rating of "Moderate Buy" and a consensus price target of $427.47.

Insider Activity

In other news, insider Donald E. Simmons sold 3,571 shares of the business's stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $380.00, for a total transaction of $1,356,980.00. Following the completion of the sale, the insider now directly owns 3,593 shares of the company's stock, valued at approximately $1,365,340. The trade was a 49.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.38% of the company's stock.

Trane Technologies Trading Down 0.1%

NYSE TT traded down $0.26 on Monday, hitting $428.67. 117,257 shares of the stock were exchanged, compared to its average volume of 1,549,392. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21. The stock has a fifty day moving average price of $382.93 and a two-hundred day moving average price of $376.21. The firm has a market capitalization of $95.60 billion, a P/E ratio of 38.10, a P/E/G ratio of 2.50 and a beta of 1.16. Trane Technologies plc has a 52-week low of $298.15 and a 52-week high of $436.61.

Trane Technologies (NYSE:TT - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $2.45 EPS for the quarter, topping the consensus estimate of $2.20 by $0.25. The company had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.46 billion. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. Trane Technologies's quarterly revenue was up 11.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.94 earnings per share. Research analysts forecast that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Announces Dividend

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 paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend is Friday, September 5th. Trane Technologies's dividend payout ratio is currently 31.28%.

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.