Machina Capital S.A.S. Acquires Shares of 3,400 Trane Technologies plc (NYSE:TT)

Machina Capital S.A.S. acquired a new position in Trane Technologies plc (NYSE:TT - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 3,400 shares of the company's stock, valued at approximately $829,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. BKM Wealth Management LLC acquired a new stake in shares of Trane Technologies during the 4th quarter worth approximately $25,000. Venturi Wealth Management LLC grew its holdings in Trane Technologies by 139.7% in the third quarter. Venturi Wealth Management LLC now owns 151 shares of the company's stock worth $31,000 after purchasing an additional 88 shares during the period. Ancora Advisors LLC acquired a new position in shares of Trane Technologies during the third quarter valued at about $40,000. Rosenberg Matthew Hamilton boosted its position in shares of Trane Technologies by 27.2% during the 4th quarter. Rosenberg Matthew Hamilton now owns 192 shares of the company's stock worth $47,000 after purchasing an additional 41 shares in the last quarter. Finally, Operose Advisors LLC acquired a new stake in shares of Trane Technologies in the 3rd quarter valued at about $53,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Trane Technologies Stock Performance

Shares of Trane Technologies stock traded up $0.15 during mid-day trading on Tuesday, hitting $325.89. 790,439 shares of the stock were exchanged, compared to its average volume of 1,026,853. The company has a market capitalization of $73.77 billion, a P/E ratio of 34.82, a P/E/G ratio of 2.54 and a beta of 1.01. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.74 and a current ratio of 1.13. The company has a 50-day simple moving average of $296.65 and a 200 day simple moving average of $259.66. Trane Technologies plc has a 12 month low of $162.04 and a 12 month high of $327.47.

Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $1.94 EPS for the quarter, topping analysts' consensus estimates of $1.64 by $0.30. Trane Technologies had a return on equity of 32.78% and a net margin of 11.81%. The business had revenue of $4.22 billion for the quarter, compared to analyst estimates of $3.99 billion. During the same period last year, the company posted $1.41 earnings per share. Trane Technologies's quarterly revenue was up 15.0% compared to the same quarter last year. Sell-side analysts anticipate that Trane Technologies plc will post 10.48 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be issued a dividend of $0.84 per share. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $3.36 dividend on an annualized basis and a yield of 1.03%. Trane Technologies's dividend payout ratio (DPR) is presently 35.90%.

Insiders Place Their Bets

In related news, EVP Paul A. Camuti sold 508 shares of the company's stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $273.34, for a total value of $138,856.72. Following the transaction, the executive vice president now owns 89,447 shares in the company, valued at $24,449,442.98. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CFO Christopher J. Kuehn sold 2,767 shares of Trane Technologies stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $268.31, for a total value of $742,413.77. Following the completion of the transaction, the chief financial officer now owns 54,788 shares in the company, valued at $14,700,168.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Paul A. Camuti sold 508 shares of the company's stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $273.34, for a total transaction of $138,856.72. Following the sale, the executive vice president now owns 89,447 shares in the company, valued at $24,449,442.98. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 28,237 shares of company stock valued at $8,024,534. Company insiders own 0.39% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on TT. Stephens increased their price target on Trane Technologies from $310.00 to $320.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 1st. Robert W. Baird lifted their price target on shares of Trane Technologies from $315.00 to $344.00 and gave the company a "neutral" rating in a research report on Wednesday, May 1st. TD Cowen upped their price objective on shares of Trane Technologies from $325.00 to $360.00 and gave the stock a "buy" rating in a report on Wednesday, May 1st. The Goldman Sachs Group lifted their price objective on shares of Trane Technologies from $287.00 to $326.00 and gave the company a "neutral" rating in a report on Wednesday, May 1st. Finally, Citigroup upped their target price on shares of Trane Technologies from $355.00 to $366.00 and gave the stock a "buy" rating in a report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $300.54.

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.