Graham Capital Management L.P. Has $4.48 Million Holdings in Trane Technologies plc (NYSE:TT)

Graham Capital Management L.P. trimmed its holdings in shares of Trane Technologies plc (NYSE:TT - Free Report) by 65.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,135 shares of the company's stock after selling 23,254 shares during the quarter. Graham Capital Management L.P.'s holdings in Trane Technologies were worth $4,482,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Focus Partners Wealth boosted its stake in shares of Trane Technologies by 28.5% in the 4th quarter. Focus Partners Wealth now owns 10,887 shares of the company's stock valued at $4,021,000 after buying an additional 2,412 shares during the period. Ensign Peak Advisors Inc boosted its stake in shares of Trane Technologies by 42.7% in the 4th quarter. Ensign Peak Advisors Inc now owns 71,632 shares of the company's stock valued at $26,457,000 after buying an additional 21,451 shares during the period. Ethic Inc. boosted its stake in shares of Trane Technologies by 150.1% in the 4th quarter. Ethic Inc. now owns 24,883 shares of the company's stock valued at $9,190,000 after buying an additional 14,932 shares during the period. Fiduciary Trust Co boosted its stake in shares of Trane Technologies by 6.9% in the 4th quarter. Fiduciary Trust Co now owns 10,568 shares of the company's stock valued at $3,903,000 after buying an additional 678 shares during the period. Finally, Clark Capital Management Group Inc. boosted its stake in shares of Trane Technologies by 15.8% in the 4th quarter. Clark Capital Management Group Inc. now owns 2,523 shares of the company's stock valued at $932,000 after buying an additional 345 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Donald E. Simmons sold 3,571 shares of the firm'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 transaction, the insider now owns 3,593 shares in the company, valued at approximately $1,365,340. This trade represents a 49.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.38% of the company's stock.

Trane Technologies Price Performance

Shares of TT traded up $4.34 during mid-day trading on Tuesday, hitting $420.49. The company's stock had a trading volume of 174,112 shares, compared to its average volume of 1,336,816. The stock has a market capitalization of $93.78 billion, a price-to-earnings ratio of 37.36, a PEG ratio of 2.50 and a beta of 1.14. Trane Technologies plc has a fifty-two week low of $298.15 and a fifty-two week high of $424.72. 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 firm has a 50-day moving average price of $351.40 and a 200 day moving average price of $372.31.

Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $2.45 EPS 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 net margin of 12.94% and a return on equity of 35.37%. The firm's quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.94 EPS. On average, research analysts predict that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be given 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 payout ratio is 31.28%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Royal Bank of Canada upped their price target on Trane Technologies from $363.00 to $408.00 and gave the company a "sector perform" rating in a report on Thursday, May 1st. Barclays reduced their target price on Trane Technologies from $500.00 to $475.00 and set an "overweight" rating for the company in a report on Monday, March 10th. Hsbc Global Res upgraded Trane Technologies from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. Melius Research reiterated a "hold" rating and set a $398.00 target price on shares of Trane Technologies in a research report on Tuesday, January 28th. Finally, Citigroup raised their target price on shares of Trane Technologies from $415.00 to $445.00 and gave the stock a "buy" 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, Trane Technologies has an average rating of "Moderate Buy" and a consensus price target of $421.07.

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.