Bayesian Capital Management LP Has $2.44 Million Holdings in Trane Technologies plc (NYSE:TT)

Bayesian Capital Management LP raised its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 19.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,600 shares of the company's stock after buying an additional 1,068 shares during the quarter. Bayesian Capital Management LP's holdings in Trane Technologies were worth $2,438,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Sound Income Strategies LLC grew its holdings in Trane Technologies by 1,314.3% during the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company's stock valued at $37,000 after purchasing an additional 92 shares during the period. Flagship Wealth Advisors LLC acquired a new position in shares of Trane Technologies in the 4th quarter valued at $37,000. Golden State Wealth Management LLC bought a new stake in shares of Trane Technologies in the 4th quarter valued at $39,000. BankPlus Trust Department acquired a new stake in Trane Technologies during the 4th quarter worth $45,000. Finally, Centricity Wealth Management LLC bought a new position in Trane Technologies during the fourth quarter worth about $55,000. 82.97% of the stock is owned by institutional investors.

Trane Technologies Stock Performance

NYSE TT traded up $4.04 on Tuesday, hitting $406.94. 1,892,033 shares of the stock were exchanged, compared to its average volume of 1,322,305. The company has a market capitalization of $90.76 billion, a PE ratio of 36.17, a P/E/G ratio of 2.50 and a beta of 1.14. 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 business's fifty day moving average is $346.56 and its 200 day moving average is $372.09. 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 issued its earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share (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%. Trane Technologies's revenue was up 11.2% on a year-over-year basis. During the same period last year, the business posted $1.94 EPS. Research analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date of this dividend is Friday, June 6th. Trane Technologies's dividend payout ratio (DPR) is presently 31.28%.

Insider Buying and Selling at Trane Technologies

In other news, CFO Christopher J. Kuehn sold 770 shares of the company's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $358.39, for a total value of $275,960.30. Following the transaction, the chief financial officer now owns 62,221 shares of the company's stock, valued at approximately $22,299,384.19. This represents a 1.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Evan M. Turtz sold 318 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $358.12, for a total value of $113,882.16. Following the transaction, the senior vice president now owns 20,513 shares in the company, valued at approximately $7,346,115.56. This trade represents a 1.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,977 shares of company stock valued at $2,577,061 in the last quarter. 0.38% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on TT. Royal Bank of Canada lifted their price objective on Trane Technologies from $363.00 to $408.00 and gave the company a "sector perform" rating in a report on Thursday, May 1st. Hsbc Global Res upgraded shares of Trane Technologies from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. Barclays reduced their target price on shares of Trane Technologies from $500.00 to $475.00 and set an "overweight" rating for the company in a research note on Monday, March 10th. Stephens raised Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 price target on the stock in a research note on Thursday, May 1st. Finally, HSBC raised Trane Technologies from a "hold" rating to a "buy" rating and upped their price objective for the stock from $405.00 to $415.00 in a research report on Friday, April 25th. 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 issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $421.07.

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.