Locust Wood Capital Advisers LLC Acquires Shares of 6,300 Trane Technologies plc (NYSE:TT)

Locust Wood Capital Advisers LLC bought a new position in shares of Trane Technologies plc (NYSE:TT - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,300 shares of the company's stock, valued at approximately $1,537,000.

A number of other hedge funds also recently added to or reduced their stakes in TT. GDS Wealth Management grew its holdings in shares of Trane Technologies by 13.1% in the 4th quarter. GDS Wealth Management now owns 42,729 shares of the company's stock worth $10,422,000 after acquiring an additional 4,933 shares during the period. Meridian Wealth Advisors LLC grew its holdings in Trane Technologies by 2.3% in the fourth quarter. Meridian Wealth Advisors LLC now owns 21,593 shares of the company's stock valued at $5,266,000 after purchasing an additional 481 shares during the last quarter. Everpar Advisors LLC purchased a new position in shares of Trane Technologies in the fourth quarter valued at $485,000. Barlow Wealth Partners Inc. acquired a new position in shares of Trane Technologies during the 4th quarter worth $1,800,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Trane Technologies by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,229,434 shares of the company's stock worth $299,859,000 after buying an additional 21,096 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on TT shares. JPMorgan Chase & Co. lifted their target price on shares of Trane Technologies from $247.00 to $300.00 and gave the stock a "neutral" rating in a research report on Thursday, May 2nd. Mizuho upped their target price on Trane Technologies from $280.00 to $325.00 and gave the company a "neutral" rating in a research note on Wednesday, May 1st. Stephens raised their price target on Trane Technologies from $310.00 to $320.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 1st. Wells Fargo & Company upped their price objective on Trane Technologies from $281.00 to $295.00 and gave the company an "underweight" rating in a research report on Thursday, May 2nd. Finally, Barclays lifted their price objective on Trane Technologies from $286.00 to $325.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Trane Technologies currently has an average rating of "Hold" and an average price target of $300.54.

Trane Technologies Trading Down 0.3 %

Trane Technologies stock traded down $0.94 during trading on Friday, reaching $331.98. The company had a trading volume of 744,745 shares, compared to its average volume of 1,064,466. Trane Technologies plc has a 12-month low of $162.04 and a 12-month high of $335.28. The stock's 50 day moving average price is $299.39 and its two-hundred day moving average price is $261.60. The firm has a market capitalization of $75.14 billion, a price-to-earnings ratio of 35.47, a PEG ratio of 2.58 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.

Trane Technologies (NYSE:TT - Get Free Report) last issued its earnings results on Tuesday, April 30th. The company reported $1.94 earnings per share (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 during the quarter, compared to analysts' expectations of $3.99 billion. During the same quarter in the previous year, the business earned $1.41 EPS. The company's revenue for the quarter was up 15.0% on a year-over-year basis. As a group, equities analysts expect that Trane Technologies plc will post 10.5 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be paid a dividend of $0.84 per share. The ex-dividend date is Friday, June 7th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.01%. Trane Technologies's dividend payout ratio is currently 35.90%.

Insider Transactions at Trane Technologies

In other news, SVP Evan M. Turtz sold 2,821 shares of the firm's stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $288.33, for a total transaction of $813,378.93. Following the completion of the sale, the senior vice president now directly owns 20,729 shares in the company, valued at $5,976,792.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Christopher J. Kuehn sold 3,762 shares of the business's stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $286.48, for a total transaction of $1,077,737.76. Following the completion of the transaction, the chief financial officer now owns 61,691 shares in the company, valued at approximately $17,673,237.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Evan M. Turtz sold 2,821 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $288.33, for a total value of $813,378.93. Following the completion of the sale, the senior vice president now directly owns 20,729 shares in the company, valued at $5,976,792.57. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,746 shares of company stock valued at $7,345,786. Corporate insiders own 0.39% of the company's stock.

Trane Technologies 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.