Trane Technologies plc (NYSE:TT) Shares Purchased by Syon Capital LLC

Syon Capital LLC grew its position in Trane Technologies plc (NYSE:TT) by 17.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,329 shares of the company’s stock after buying an additional 349 shares during the quarter. Syon Capital LLC’s holdings in Trane Technologies were worth $568,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Wellington Management Group LLP lifted its position in Trane Technologies by 36.4% during the 3rd quarter. Wellington Management Group LLP now owns 1,639,058 shares of the company’s stock worth $332,581,000 after acquiring an additional 436,997 shares in the last quarter. Xponance Inc. increased its holdings in shares of Trane Technologies by 18.6% in the 4th quarter. Xponance Inc. now owns 43,825 shares of the company’s stock valued at $10,689,000 after acquiring an additional 6,869 shares during the last quarter. CHICAGO TRUST Co NA grew its stake in Trane Technologies by 2.1% during the 4th quarter. CHICAGO TRUST Co NA now owns 3,136 shares of the company’s stock worth $765,000 after buying an additional 64 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Trane Technologies by 60.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 112,239 shares of the company’s stock worth $27,375,000 after buying an additional 42,409 shares during the last quarter. Finally, Wealth Effects LLC acquired a new position in Trane Technologies during the 4th quarter worth $239,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Activity

In other news, CFO Christopher J. Kuehn sold 3,762 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were 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 directly owns 61,691 shares in the company, valued at approximately $17,673,237.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO David S. Regnery sold 6,990 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $286.19, for a total value of $2,000,468.10. Following the completion of the transaction, the chief executive officer now directly owns 113,874 shares in the company, valued at $32,589,600.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Christopher J. Kuehn sold 3,762 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $17,673,237.68. The disclosure for this sale can be found here. Insiders sold 29,874 shares of company stock worth $8,462,825 in the last three months. Corporate insiders own 0.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on TT shares. Citigroup upped their target price on Trane Technologies from $309.00 to $355.00 and gave the company a “buy” rating in a report on Monday, April 8th. Royal Bank of Canada increased their target price on Trane Technologies from $231.00 to $246.00 and gave the company a “sector perform” rating in a research note on Friday, February 2nd. Stephens increased their target price on Trane Technologies from $235.00 to $280.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 6th. The Goldman Sachs Group raised their price objective on Trane Technologies from $253.00 to $287.00 and gave the stock a “neutral” rating in a research report on Monday, February 5th. Finally, Barclays increased their target price on Trane Technologies from $286.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $251.83.

Trane Technologies Stock Performance

TT stock traded up $5.16 during midday trading on Friday, reaching $304.53. 914,197 shares of the company’s stock traded hands, compared to its average volume of 998,344. The company has a 50-day moving average price of $291.57 and a two-hundred day moving average price of $253.55. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.78 and a current ratio of 1.13. Trane Technologies plc has a 52 week low of $162.04 and a 52 week high of $306.98. The firm has a market capitalization of $69.15 billion, a PE ratio of 34.06, a price-to-earnings-growth ratio of 2.50 and a beta of 1.05.

Trane Technologies (NYSE:TT) last issued its earnings results on Thursday, February 1st. The company reported $2.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.13 by $0.04. The business had revenue of $4.42 billion for the quarter, compared to analysts’ expectations of $4.43 billion. Trane Technologies had a net margin of 11.45% and a return on equity of 32.01%. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.82 EPS. As a group, equities analysts anticipate that Trane Technologies plc will post 10.2 EPS for the current year.

Trane Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be given a dividend of $0.84 per share. The ex-dividend date is Thursday, June 6th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.10%. Trane Technologies’s dividend payout ratio (DPR) is currently 38.23%.

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.