Sone Capital Management LLC Takes Position in Trane Technologies plc (NYSE:TT)

Sone Capital Management LLC bought a new position in shares of Trane Technologies plc (NYSE:TT - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 30,176 shares of the company's stock, valued at approximately $11,146,000. Trane Technologies accounts for about 1.4% of Sone Capital Management LLC's investment portfolio, making the stock its 23rd biggest position.

A number of other institutional investors also recently modified their holdings of TT. Vanguard Group Inc. raised its position in Trane Technologies by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 19,235,570 shares of the company's stock valued at $7,104,658,000 after buying an additional 152,353 shares during the last quarter. Geode Capital Management LLC raised its position in Trane Technologies by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 4,775,263 shares of the company's stock valued at $1,760,549,000 after buying an additional 136,349 shares during the last quarter. Ameriprise Financial Inc. raised its position in Trane Technologies by 4.1% in the 4th quarter. Ameriprise Financial Inc. now owns 3,343,390 shares of the company's stock valued at $1,234,908,000 after buying an additional 130,867 shares during the last quarter. Norges Bank purchased a new stake in Trane Technologies in the 4th quarter valued at $1,117,816,000. Finally, Northern Trust Corp raised its position in Trane Technologies by 20.1% in the 4th quarter. Northern Trust Corp now owns 2,567,527 shares of the company's stock valued at $948,316,000 after buying an additional 429,953 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on TT shares. Wells Fargo & Company increased their price target on Trane Technologies from $330.00 to $370.00 and gave the company an "underweight" rating in a research report on Thursday, May 1st. Stephens raised Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 price target for the company in a research report on Thursday, May 1st. UBS Group raised their target price on Trane Technologies from $470.00 to $500.00 and gave the company a "buy" rating in a research report on Thursday. Barclays decreased their target price on Trane Technologies from $500.00 to $475.00 and set an "overweight" rating for the company in a research report on Monday, March 10th. Finally, Melius Research reaffirmed a "hold" rating and set a $398.00 target price on shares of Trane Technologies in a research report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $427.47.

Trane Technologies Stock Performance

TT traded down $0.70 during trading hours on Thursday, hitting $424.16. The stock had a trading volume of 954,887 shares, compared to its average volume of 1,350,270. The company's fifty day simple moving average is $363.24 and its 200 day simple moving average is $374.57. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $433.60. The stock has a market cap of $94.60 billion, a PE ratio of 37.70, a price-to-earnings-growth ratio of 2.50 and a beta of 1.14. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58.

Trane Technologies (NYSE:TT - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share 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 analyst estimates of $4.46 billion. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. The company's quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.94 EPS. Equities analysts anticipate 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 Monday, June 30th. Shareholders of record on Friday, June 6th will be issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date is Friday, June 6th. Trane Technologies's payout ratio is presently 31.28%.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of Trane Technologies stock in a transaction dated 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 completion of the transaction, the insider now owns 3,593 shares of the company's stock, valued at $1,365,340. The trade was a 49.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.38% of the company's stock.

About Trane Technologies

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.