Trane Technologies plc (NYSE:TT) Holdings Raised by GAMMA Investing LLC

GAMMA Investing LLC lifted its position in Trane Technologies plc (NYSE:TT) by 7.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,669 shares of the company’s stock after buying an additional 388 shares during the quarter. GAMMA Investing LLC’s holdings in Trane Technologies were worth $2,094,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the business. International Assets Investment Management LLC boosted its holdings in Trane Technologies by 35,914.4% during the third quarter. International Assets Investment Management LLC now owns 1,645,137 shares of the company’s stock valued at $639,514,000 after purchasing an additional 1,640,569 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Trane Technologies by 35.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,550,511 shares of the company’s stock worth $991,460,000 after buying an additional 671,691 shares during the period. 1832 Asset Management L.P. raised its stake in Trane Technologies by 7,363.1% during the 2nd quarter. 1832 Asset Management L.P. now owns 422,785 shares of the company’s stock worth $139,067,000 after buying an additional 417,120 shares during the period. FMR LLC lifted its stake in Trane Technologies by 4.0% in the third quarter. FMR LLC now owns 10,337,672 shares of the company’s stock valued at $4,018,563,000 after buying an additional 397,537 shares in the last quarter. Finally, Point72 Asset Management L.P. lifted its stake in Trane Technologies by 162.7% in the 2nd quarter. Point72 Asset Management L.P. now owns 447,705 shares of the company’s stock valued at $147,263,000 after acquiring an additional 277,274 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on TT shares. HSBC downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price objective for the company. in a research report on Thursday, October 31st. Hsbc Global Res downgraded Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Citigroup upped their target price on Trane Technologies from $457.00 to $478.00 and gave the stock a “buy” rating in a report on Monday, December 9th. UBS Group began coverage on Trane Technologies in a research report on Wednesday, November 13th. They set a “buy” rating and a $500.00 price objective for the company. Finally, Mizuho boosted their price target on Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Trane Technologies presently has an average rating of “Hold” and a consensus target price of $409.93.

Trane Technologies Stock Up 1.2 %

TT stock opened at $373.84 on Friday. Trane Technologies plc has a twelve month low of $233.76 and a twelve month high of $422.00. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.57. The business has a 50 day moving average of $397.09 and a 200 day moving average of $369.43. The firm has a market cap of $84.12 billion, a PE ratio of 34.68, a price-to-earnings-growth ratio of 2.38 and a beta of 1.03.

Trane Technologies (NYSE:TT) last posted its earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.23 by $0.14. The business had revenue of $5.44 billion for the quarter, compared to analysts’ expectations of $5.32 billion. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.79 EPS. On average, research analysts forecast that Trane Technologies plc will post 11.13 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 6th were paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date was Friday, December 6th. Trane Technologies’s dividend payout ratio (DPR) is 31.17%.

Insider Transactions at Trane Technologies

In related news, SVP Mairead Magner sold 4,329 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the completion of the sale, the senior vice president now directly owns 12,893 shares of the company’s stock, valued at approximately $5,363,488. This trade represents a 25.14 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.38% of the company’s stock.

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.