Two Sigma Investments LP Has $123.53 Million Stock Position in Trane Technologies plc (NYSE:TT)

Two Sigma Investments LP grew its stake in Trane Technologies plc (NYSE:TT - Free Report) by 85.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 334,452 shares of the company's stock after buying an additional 153,640 shares during the quarter. Two Sigma Investments LP owned 0.15% of Trane Technologies worth $123,530,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Minot DeBlois Advisors LLC bought a new stake in Trane Technologies in the 4th quarter valued at approximately $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 purchasing an additional 92 shares during the last quarter. Flagship Wealth Advisors LLC bought a new stake in shares of Trane Technologies in the fourth quarter worth $37,000. Golden State Wealth Management LLC bought a new stake in shares of Trane Technologies in the fourth quarter worth $39,000. Finally, BankPlus Trust Department acquired a new position in Trane Technologies during the fourth quarter worth $45,000. Institutional investors own 82.97% of the company's stock.

Insider Transactions at Trane Technologies

In other news, insider Donald E. Simmons sold 3,571 shares of Trane Technologies stock in a transaction on 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 sale, the insider now owns 3,593 shares of the company's stock, valued at approximately $1,365,340. This trade represents a 49.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.38% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on TT shares. Wells Fargo & Company boosted their price target 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. Melius downgraded Trane Technologies from a "buy" rating to a "hold" rating and set a $398.00 target price on the stock. in a research report on Tuesday, January 28th. Stephens upgraded Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 target price on the stock in a report on Thursday, May 1st. JPMorgan Chase & Co. raised their price target on Trane Technologies from $334.00 to $400.00 and gave the company a "neutral" rating in a research note on Friday. Finally, Robert W. Baird boosted their price target on Trane Technologies from $360.00 to $396.00 and gave the stock a "neutral" rating in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $425.47.

Trane Technologies Trading Up 1.6%

Shares of Trane Technologies stock opened at $429.20 on Monday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88. The business has a fifty day simple moving average of $358.06 and a two-hundred day simple moving average of $373.45. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $429.40. The company has a market capitalization of $95.72 billion, a price-to-earnings ratio of 38.15, a P/E/G ratio of 2.50 and a beta of 1.14.

Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly earnings data 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. The company had revenue of $4.69 billion for 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%. The company's revenue was up 11.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.94 earnings per share. Research analysts forecast that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders 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 dividend yield of 0.88%. The ex-dividend date of this dividend is Friday, June 6th. Trane Technologies's dividend payout ratio is presently 31.28%.

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.

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