Trane Technologies plc (NYSE:TT) Shares Bought by Gotham Asset Management LLC

Gotham Asset Management LLC increased its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 37.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 30,635 shares of the company's stock after purchasing an additional 8,278 shares during the period. Gotham Asset Management LLC's holdings in Trane Technologies were worth $11,315,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Focus Partners Wealth raised its position in shares of Trane Technologies by 28.5% in the fourth 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 in the last quarter. Ensign Peak Advisors Inc raised its holdings in shares of Trane Technologies by 42.7% during the fourth quarter. Ensign Peak Advisors Inc now owns 71,632 shares of the company's stock valued at $26,457,000 after purchasing an additional 21,451 shares during the period. Ethic Inc. lifted its holdings in shares of Trane Technologies by 150.1% in the 4th quarter. Ethic Inc. now owns 24,883 shares of the company's stock worth $9,190,000 after purchasing an additional 14,932 shares in the last quarter. Fiduciary Trust Co increased its position in shares of Trane Technologies by 6.9% during the fourth quarter. Fiduciary Trust Co now owns 10,568 shares of the company's stock worth $3,903,000 after acquiring an additional 678 shares in the last quarter. Finally, Clark Capital Management Group Inc. lifted its stake in Trane Technologies by 15.8% during the 4th quarter. Clark Capital Management Group Inc. now owns 2,523 shares of the company's stock valued at $932,000 after acquiring an additional 345 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Insider Transactions at Trane Technologies

In related news, insider Donald E. Simmons sold 3,571 shares of the business's stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $380.00, for a total value of $1,356,980.00. Following the completion of the transaction, the insider now directly owns 3,593 shares in the company, valued at $1,365,340. The trade was a 49.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.38% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on TT shares. Citigroup raised their price target on shares of Trane Technologies from $415.00 to $445.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Melius Research restated a "hold" rating and issued a $398.00 price objective on shares of Trane Technologies in a research report on Tuesday, January 28th. Stephens upgraded Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 target price for the company in a research report on Thursday, May 1st. UBS Group dropped their target price on Trane Technologies from $500.00 to $470.00 and set a "buy" rating for the company in a report on Friday, January 31st. Finally, Hsbc Global Res raised Trane Technologies from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $421.07.

Trane Technologies Trading Up 0.5%

Trane Technologies stock traded up $2.22 during midday trading on Thursday, reaching $421.88. The stock had a trading volume of 1,225,301 shares, compared to its average volume of 1,344,963. The company has a fifty day moving average of $354.49 and a 200 day moving average of $372.98. Trane Technologies plc has a 52-week low of $298.15 and a 52-week high of $424.46. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. The firm has a market cap of $94.09 billion, a price-to-earnings ratio of 37.50, a price-to-earnings-growth ratio of 2.50 and a beta of 1.14.

Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $2.45 earnings per share for the quarter, beating the consensus estimate of $2.20 by $0.25. The firm had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.46 billion. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. The firm's quarterly revenue was up 11.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.94 earnings per share. On average, analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors 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 dividend payout ratio is currently 31.28%.

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.