Gallo Partners LP Makes New Investment in Trane Technologies plc (NYSE:TT)

Gallo Partners LP acquired a new stake in Trane Technologies plc (NYSE:TT - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 6,592 shares of the company's stock, valued at approximately $2,435,000. Trane Technologies makes up about 1.8% of Gallo Partners LP's holdings, making the stock its 20th biggest position.

Several other institutional investors and hedge funds have also recently modified their holdings of TT. Global Wealth Strategies & Associates acquired a new position in Trane Technologies in the 4th quarter valued at about $26,000. Sound Income Strategies LLC increased its stake in Trane Technologies by 1,314.3% during the 4th quarter. Sound Income Strategies LLC now owns 99 shares of the company's stock worth $37,000 after buying an additional 92 shares during the period. Flagship Wealth Advisors LLC acquired a new stake in Trane Technologies during the 4th quarter worth approximately $37,000. Golden State Wealth Management LLC purchased a new position in Trane Technologies in the 4th quarter valued at approximately $39,000. Finally, BankPlus Trust Department purchased a new stake in shares of Trane Technologies during the fourth quarter worth $45,000. Hedge funds and other institutional investors own 82.97% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Hsbc Global Res raised Trane Technologies from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 25th. 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 research note on Tuesday, January 28th. Robert W. Baird raised their target price on shares of Trane Technologies from $360.00 to $396.00 and gave the company a "neutral" rating in a report on Thursday. HSBC raised shares of Trane Technologies from a "hold" rating to a "buy" rating and increased their price objective for the company from $405.00 to $415.00 in a research report on Friday, April 25th. Finally, Wells Fargo & Company lifted their price objective on shares of Trane Technologies from $330.00 to $370.00 and gave the stock an "underweight" rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $421.07.

Insider Buying and Selling

In other news, SVP Mairead Magner sold 198 shares of the business's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total transaction of $70,806.78. Following the transaction, the senior vice president now directly owns 13,401 shares in the company, valued at $4,792,331.61. The trade was a 1.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Donald E. Simmons sold 3,571 shares of the firm's stock in a transaction dated 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 owns 3,593 shares of the company's stock, valued at approximately $1,365,340. The trade was a 49.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,805 shares of company stock valued at $3,945,082 over the last quarter. 0.38% of the stock is currently owned by insiders.

Trane Technologies Stock Performance

Shares of Trane Technologies stock traded up $7.06 on Friday, hitting $399.68. The stock had a trading volume of 1,323,355 shares, compared to its average volume of 1,317,715. The company's 50 day moving average price is $344.26 and its 200 day moving average price is $372.20. The stock has a market cap of $89.64 billion, a price-to-earnings ratio of 35.53, a P/E/G ratio of 2.50 and a beta of 1.08. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. Trane Technologies plc has a 52-week low of $298.15 and a 52-week high of $422.00.

Trane Technologies (NYSE:TT - Get Free Report) last posted 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 business had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.46 billion. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. The company's revenue was up 11.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.94 earnings per share. On average, research analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be issued a $0.94 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.94%. Trane Technologies's payout ratio is 33.42%.

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.