Woodline Partners LP Purchases 45,718 Shares of Trane Technologies plc (NYSE:TT)

Woodline Partners LP boosted its holdings in Trane Technologies plc (NYSE:TT - Free Report) by 1,033.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 50,141 shares of the company's stock after purchasing an additional 45,718 shares during the quarter. Woodline Partners LP's holdings in Trane Technologies were worth $18,520,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Minot DeBlois Advisors LLC acquired a new stake in Trane Technologies in the 4th quarter worth about $26,000. Vermillion & White Wealth Management Group LLC bought a new position in Trane Technologies in the 4th quarter valued at about $28,000. Sound Income Strategies LLC increased its holdings in Trane Technologies by 1,314.3% in the 4th 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 period. Flagship Wealth Advisors LLC bought a new position in Trane Technologies in the 4th quarter valued at about $37,000. Finally, Golden State Wealth Management LLC bought a new position in Trane Technologies in the 4th quarter valued at about $39,000. Institutional investors and hedge funds own 82.97% of the company's stock.

Trane Technologies Trading Down 0.1%

TT traded down $0.55 during trading on Friday, reaching $423.71. 1,033,578 shares of the company's stock were exchanged, compared to its average volume of 1,354,784. Trane Technologies plc has a one year low of $298.15 and a one year high of $433.60. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $94.50 billion, a PE ratio of 37.66, a price-to-earnings-growth ratio of 2.50 and a beta of 1.14. The firm has a fifty day moving average price of $366.28 and a two-hundred day moving average price of $375.13.

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, topping analysts' consensus estimates of $2.20 by $0.25. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. The firm had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.46 billion. During the same period in the previous year, the firm posted $1.94 EPS. The company's revenue for the quarter was up 11.2% compared to the same quarter last year. As a group, equities research analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

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 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 31.28%.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

Several equities analysts have commented on TT shares. JPMorgan Chase & Co. raised their target price on shares of Trane Technologies from $334.00 to $400.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Stephens raised shares of 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. Melius lowered shares of Trane Technologies from a "buy" rating to a "hold" rating and set a $398.00 target price on the stock. in a report on Tuesday, January 28th. Melius Research reissued a "hold" rating and issued a $398.00 target price on shares of Trane Technologies in a report on Tuesday, January 28th. Finally, Citigroup lifted their price target on shares of Trane Technologies from $415.00 to $445.00 and gave the company a "buy" rating in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $427.47.

Trane Technologies Company 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.