12,073 Shares in Trane Technologies plc (NYSE:TT) Acquired by Twinbeech Capital LP

Twinbeech Capital LP purchased a new position in shares of Trane Technologies plc (NYSE:TT - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 12,073 shares of the company's stock, valued at approximately $4,459,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Two Sigma Advisers LP boosted its holdings in Trane Technologies by 73.2% in the fourth quarter. Two Sigma Advisers LP now owns 229,800 shares of the company's stock valued at $84,877,000 after purchasing an additional 97,100 shares during the last quarter. Two Sigma Investments LP raised its stake in shares of Trane Technologies by 85.0% during the fourth quarter. Two Sigma Investments LP now owns 334,452 shares of the company's stock valued at $123,530,000 after purchasing an additional 153,640 shares in the last quarter. Temasek Holdings Private Ltd boosted its stake in Trane Technologies by 223.7% during the 4th quarter. Temasek Holdings Private Ltd now owns 27,297 shares of the company's stock valued at $10,082,000 after purchasing an additional 18,863 shares in the last quarter. Teza Capital Management LLC raised its holdings in shares of Trane Technologies by 7,644.9% in the 4th quarter. Teza Capital Management LLC now owns 199,664 shares of the company's stock worth $73,746,000 after purchasing an additional 197,086 shares in the last quarter. Finally, Tidal Investments LLC boosted its position in shares of Trane Technologies by 409.9% in the 4th quarter. Tidal Investments LLC now owns 80,695 shares of the company's stock valued at $29,805,000 after purchasing an additional 64,868 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Trane Technologies Stock Down 0.1%

Shares of Trane Technologies stock traded down $0.55 on Friday, hitting $423.71. The company had a trading volume of 1,033,578 shares, compared to its average volume of 1,351,524. 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 50 day moving average of $364.69 and a 200-day moving average of $374.90. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $433.60. The stock has a market capitalization of $94.50 billion, a price-to-earnings ratio of 37.66, a P/E/G ratio of 2.50 and a beta of 1.14.

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

Trane Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be paid a $0.94 dividend. The ex-dividend date is Friday, June 6th. This represents a $3.76 dividend on an annualized basis and a yield of 0.89%. Trane Technologies's dividend payout ratio is currently 31.28%.

Insider Activity at Trane Technologies

In related news, insider Donald E. Simmons sold 3,571 shares of the company'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 in the company, valued at $1,365,340. This represents a 49.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.38% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

TT has been the subject of a number of research analyst reports. Wells Fargo & Company increased their target price on shares of Trane Technologies from $330.00 to $370.00 and gave the stock an "underweight" rating in a research report on Thursday, May 1st. JPMorgan Chase & Co. boosted their price objective on Trane Technologies from $334.00 to $400.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Melius Research reaffirmed a "hold" rating and set a $398.00 price objective on shares of Trane Technologies in a research report on Tuesday, January 28th. Melius downgraded shares of Trane Technologies from a "buy" rating to a "hold" rating and set a $398.00 price objective for the company. in a report on Tuesday, January 28th. Finally, Barclays dropped their price objective on Trane Technologies from $500.00 to $475.00 and set an "overweight" rating for the company in a research note on Monday, March 10th. One equities research 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. Based on data from MarketBeat.com, Trane Technologies has a consensus rating of "Moderate Buy" and a consensus price target of $427.47.

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.