Trane Technologies plc $TT Shares Bought by Mariner LLC

Mariner LLC lifted its holdings in shares of Trane Technologies plc (NYSE:TT) by 1.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 419,635 shares of the company’s stock after buying an additional 5,654 shares during the quarter. Mariner LLC’s holdings in Trane Technologies were worth $163,328,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in TT. Fiduciary Family Office LLC increased its holdings in Trane Technologies by 1.5% in the 4th quarter. Fiduciary Family Office LLC now owns 1,573 shares of the company’s stock worth $612,000 after acquiring an additional 23 shares in the last quarter. Foster Dykema Cabot & Partners LLC lifted its holdings in Trane Technologies by 10.6% during the fourth quarter. Foster Dykema Cabot & Partners LLC now owns 239 shares of the company’s stock valued at $93,000 after purchasing an additional 23 shares in the last quarter. Bridgewater Advisors Inc. grew its position in shares of Trane Technologies by 3.7% in the third quarter. Bridgewater Advisors Inc. now owns 670 shares of the company’s stock valued at $285,000 after purchasing an additional 24 shares during the period. West Family Investments Inc. increased its stake in shares of Trane Technologies by 2.3% during the third quarter. West Family Investments Inc. now owns 1,072 shares of the company’s stock worth $452,000 after purchasing an additional 24 shares in the last quarter. Finally, Cresset Asset Management LLC raised its position in shares of Trane Technologies by 0.3% during the 3rd quarter. Cresset Asset Management LLC now owns 7,012 shares of the company’s stock worth $2,959,000 after purchasing an additional 24 shares during the last quarter. 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 8,619 shares of the business’s stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $450.00, for a total value of $3,878,550.00. Following the transaction, the chief financial officer owned 60,576 shares of the company’s stock, valued at approximately $27,259,200. The trade was a 12.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Donald E. Simmons sold 4,593 shares of the stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $500.00, for a total value of $2,296,500.00. Following the sale, the insider directly owned 3,819 shares of the company’s stock, valued at approximately $1,909,500. This represents a 54.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.43% of the company’s stock.

Trane Technologies Trading Down 0.1%

TT opened at $457.69 on Monday. The firm has a market cap of $101.17 billion, a price-to-earnings ratio of 35.40, a price-to-earnings-growth ratio of 2.11 and a beta of 1.20. Trane Technologies plc has a 52 week low of $348.06 and a 52 week high of $503.47. The business’s 50 day moving average is $463.44 and its two-hundred day moving average is $433.30. The company has a quick ratio of 0.77, a current ratio of 1.10 and a debt-to-equity ratio of 0.46.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Friday, May 1st. The company reported $2.63 EPS for the quarter, beating the consensus estimate of $2.53 by $0.10. The firm had revenue of $4.97 billion during the quarter, compared to the consensus estimate of $4.81 billion. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. Trane Technologies’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.45 EPS. On average, research analysts predict that Trane Technologies plc will post 14.88 EPS for the current year.

Trane Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, September 4th will be paid a dividend of $1.05 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $4.20 annualized dividend and a yield of 0.9%. Trane Technologies’s dividend payout ratio is currently 32.48%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on TT shares. Royal Bank Of Canada lifted their price objective on Trane Technologies from $440.00 to $501.00 and gave the stock a “sector perform” rating in a report on Friday, May 1st. Barclays increased their target price on shares of Trane Technologies from $507.00 to $585.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Sanford C. Bernstein began coverage on shares of Trane Technologies in a research note on Tuesday, June 9th. They set an “outperform” rating and a $550.00 price objective for the company. Weiss Ratings reissued a “buy (b)” rating on shares of Trane Technologies in a research note on Monday, April 20th. Finally, Citigroup upped their price target on Trane Technologies from $525.00 to $570.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $509.12.

Trane Technologies Company Profile

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.