Trane Technologies plc $TT Shares Purchased by R Squared Ltd

R Squared Ltd boosted its holdings in shares of Trane Technologies plc (NYSE:TT) by 226.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,001 shares of the company’s stock after acquiring an additional 1,388 shares during the quarter. R Squared Ltd’s holdings in Trane Technologies were worth $904,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Wilkerson Advisory Group LLC lifted its position in shares of Trane Technologies by 136.0% during the first quarter. Wilkerson Advisory Group LLC now owns 59 shares of the company’s stock worth $25,000 after purchasing an additional 34 shares during the last quarter. Elevation Wealth Partners LLC grew its holdings in shares of Trane Technologies by 153.8% in the second quarter. Elevation Wealth Partners LLC now owns 66 shares of the company’s stock worth $32,000 after purchasing an additional 40 shares during the last quarter. Frazier Financial Advisors LLC bought a new position in shares of Trane Technologies in the first quarter worth about $33,000. James T. Borello RIA increased its stake in Trane Technologies by 41.7% in the 3rd quarter. James T. Borello RIA now owns 102 shares of the company’s stock worth $46,000 after buying an additional 30 shares during the period. Finally, MADDEN SECURITIES Corp purchased a new position in Trane Technologies in the 3rd quarter worth about $46,000. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Trading Down 0.1%

Shares of NYSE TT opened at $424.46 on Friday. Trane Technologies plc has a 1-year low of $348.06 and a 1-year high of $505.87. The business has a fifty day moving average price of $444.05 and a 200 day moving average price of $455.09. The stock has a market capitalization of $92.92 billion, a P/E ratio of 29.98, a price-to-earnings-growth ratio of 1.99 and a beta of 1.19. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.12 and a quick ratio of 0.79.

Trane Technologies (NYSE:TT) last posted its earnings results on Thursday, October 29th. The company reported $4.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.74 by $0.12. The company had revenue of $6.76 billion for the quarter, compared to analyst estimates of $6.50 billion. Trane Technologies had a return on equity of 37.26% and a net margin of 13.56%. The firm’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.88 earnings per share. Equities research analysts expect that Trane Technologies plc will post 15.29 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Friday, December 4th will be issued a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Friday, December 4th. Trane Technologies’s dividend payout ratio (DPR) is currently 29.66%.

Insider Activity

In other news, CEO David Regnery sold 48,091 shares of Trane Technologies stock in a transaction that occurred on Tuesday, October 6th. The shares were sold at an average price of $480.00, for a total value of $23,083,680.00. Following the transaction, the chief executive officer owned 96,951 shares of the company’s stock, valued at $46,536,480. The trade was a 33.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on TT shares. Mizuho lifted their price objective on shares of Trane Technologies from $475.00 to $485.00 and gave the company a “neutral” rating in a report on Thursday, October 15th. The Goldman Sachs Group raised Trane Technologies from a “neutral” rating to a “buy” rating and lifted their target price for the company from $548.00 to $565.00 in a research report on Wednesday, October 14th. Weiss Ratings upgraded Trane Technologies from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, September 10th. JPMorgan Chase & Co. dropped their price target on Trane Technologies from $550.00 to $480.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, Wall Street Zen downgraded Trane Technologies from a “buy” rating to a “hold” rating in a research report on Sunday, November 8th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $531.22.

Trane Technologies Company Profile

Trane Technologies plc is a global climate innovator that designs, manufactures, and services heating, ventilation, air conditioning, and refrigeration systems. Its products and services support commercial buildings, homes, and transportation applications, including temperature-controlled shipping. The company’s portfolio includes the Trane brand of HVAC systems and building services, as well as Thermo King equipment for transport refrigeration and climate control. It also offers building controls, energy-efficiency solutions, system maintenance, and related services.