Trane Technologies plc (NYSE:TT) Shares Purchased by Two Sigma Advisers LP

Two Sigma Advisers LP boosted its stake in Trane Technologies plc (NYSE:TT - Free Report) by 73.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 229,800 shares of the company's stock after acquiring an additional 97,100 shares during the period. Two Sigma Advisers LP owned about 0.10% of Trane Technologies worth $84,877,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Minot DeBlois Advisors LLC purchased a new stake in shares of Trane Technologies in the fourth quarter valued at about $26,000. Sound Income Strategies LLC raised its holdings in shares of Trane Technologies by 1,314.3% in the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company's stock valued at $37,000 after buying an additional 92 shares during the last quarter. Flagship Wealth Advisors LLC purchased a new stake in shares of Trane Technologies in the fourth quarter valued at about $37,000. Golden State Wealth Management LLC purchased a new stake in shares of Trane Technologies in the fourth quarter valued at about $39,000. Finally, BankPlus Trust Department purchased a new stake in shares of Trane Technologies in the fourth quarter valued at about $45,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Price Performance

Shares of TT traded down $0.70 during mid-day trading on Thursday, reaching $424.16. 954,887 shares of the company's stock were exchanged, compared to its average volume of 1,350,270. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. The company has a 50-day simple moving average of $363.24 and a two-hundred day simple moving average of $374.57. Trane Technologies plc has a 52-week low of $298.15 and a 52-week high of $433.60. The company has a market cap of $94.60 billion, a price-to-earnings ratio of 37.70, a PEG ratio of 2.50 and a beta of 1.14.

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

Trane Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be paid a dividend of $0.94 per share. The ex-dividend date is Friday, June 6th. This represents a $3.76 annualized dividend and a dividend yield of 0.89%. Trane Technologies's dividend payout ratio is presently 31.28%.

Analysts Set New Price Targets

TT has been the subject of a number of recent analyst reports. Robert W. Baird raised 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. Wells Fargo & Company raised their price objective on shares of Trane Technologies from $330.00 to $370.00 and gave the company an "underweight" rating in a research report on Thursday, May 1st. 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. Barclays reduced their price objective on shares of 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, Citigroup raised their price objective on shares of Trane Technologies from $415.00 to $445.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price 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 $1,365,340. The trade was a 49.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.38% of the company's stock.

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.