Bayesian Capital Management LP Purchases 1,068 Shares of Trane Technologies plc (NYSE:TT)

Bayesian Capital Management LP raised its position in Trane Technologies plc (NYSE:TT - Free Report) by 19.3% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 6,600 shares of the company's stock after acquiring an additional 1,068 shares during the period. Bayesian Capital Management LP's holdings in Trane Technologies were worth $2,438,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Sound Income Strategies LLC grew its stake in shares of Trane Technologies by 1,314.3% in the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company's stock valued at $37,000 after buying an additional 92 shares in the last quarter. Flagship Wealth Advisors LLC bought a new position in shares of Trane Technologies during the 4th quarter worth approximately $37,000. Golden State Wealth Management LLC acquired a new position in shares of Trane Technologies during the 4th quarter worth approximately $39,000. BankPlus Trust Department bought a new stake in Trane Technologies in the 4th quarter valued at $45,000. Finally, Centricity Wealth Management LLC acquired a new stake in Trane Technologies during the 4th quarter valued at $55,000. Institutional investors and hedge funds own 82.97% of the company's stock.

Insider Activity at Trane Technologies

In other news, CFO Christopher J. Kuehn sold 770 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $358.39, for a total transaction of $275,960.30. Following the transaction, the chief financial officer now owns 62,221 shares of the company's stock, valued at $22,299,384.19. This represents a 1.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO David S. Regnery sold 2,318 shares of the company's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $358.17, for a total value of $830,238.06. Following the transaction, the chief executive officer now directly owns 126,831 shares in the company, valued at approximately $45,427,059.27. This trade represents a 1.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,977 shares of company stock worth $2,577,061 in the last 90 days. Corporate insiders own 0.38% of the company's stock.

Analyst Ratings Changes

Several brokerages recently commented on TT. Wells Fargo & Company lifted their target price on shares of Trane Technologies from $330.00 to $370.00 and gave the stock an "underweight" rating in a report on Thursday, May 1st. Royal Bank of Canada upped their target price on Trane Technologies from $363.00 to $408.00 and gave the company a "sector perform" rating in a research report on Thursday, May 1st. Citigroup lifted their price target on Trane Technologies from $415.00 to $445.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Barclays lowered their price objective on Trane Technologies from $500.00 to $475.00 and set an "overweight" rating on the stock in a research report on Monday, March 10th. Finally, Stephens upgraded shares of 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. One analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $421.07.

Trane Technologies Trading Down 0.4 %

NYSE:TT traded down $1.47 during trading hours on Friday, hitting $404.18. 1,045,034 shares of the company were exchanged, compared to its average volume of 1,331,247. The stock has a market capitalization of $90.14 billion, a price-to-earnings ratio of 35.93, a price-to-earnings-growth ratio of 2.50 and a beta of 1.14. Trane Technologies plc has a one year low of $298.15 and a one year high of $422.00. The company has a fifty day simple moving average of $348.81 and a 200 day simple moving average of $372.37. 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 (NYSE:TT - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $2.45 EPS for the quarter, topping analysts' consensus estimates of $2.20 by $0.25. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. The company had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.46 billion. During the same period in the previous year, the firm earned $1.94 earnings per share. The firm's quarterly revenue was up 11.2% on a year-over-year basis. Sell-side analysts expect that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders 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 dividend yield of 0.93%. The ex-dividend date of this dividend is Friday, June 6th. Trane Technologies's dividend payout ratio is 31.28%.

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.