GAMMA Investing LLC Purchases New Stake in Trane Technologies plc (NYSE:TT)

GAMMA Investing LLC acquired a new position in Trane Technologies plc (NYSE:TT) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,568 shares of the company’s stock, valued at approximately $395,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. BKM Wealth Management LLC purchased a new stake in Trane Technologies in the 4th quarter worth about $25,000. Venturi Wealth Management LLC increased its stake in shares of Trane Technologies by 139.7% in the third quarter. Venturi Wealth Management LLC now owns 151 shares of the company’s stock worth $31,000 after purchasing an additional 88 shares in the last quarter. Avior Wealth Management LLC raised its position in shares of Trane Technologies by 58.0% in the third quarter. Avior Wealth Management LLC now owns 177 shares of the company’s stock valued at $36,000 after purchasing an additional 65 shares during the period. Ancora Advisors LLC bought a new position in Trane Technologies in the 3rd quarter worth approximately $40,000. Finally, Rosenberg Matthew Hamilton grew its stake in Trane Technologies by 27.2% in the 4th quarter. Rosenberg Matthew Hamilton now owns 192 shares of the company’s stock valued at $47,000 after buying an additional 41 shares in the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Trane Technologies news, CEO David S. Regnery sold 6,990 shares of the firm’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 sale, the chief executive officer now owns 113,874 shares of the company’s stock, valued at approximately $32,589,600.06. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, EVP Paul A. Camuti sold 5,643 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $288.30, for a total transaction of $1,626,876.90. Following the completion of the transaction, the executive vice president now owns 88,770 shares in the company, valued at $25,592,391. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO David S. Regnery sold 6,990 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $286.19, for a total transaction of $2,000,468.10. Following the transaction, the chief executive officer now directly owns 113,874 shares in the company, valued at $32,589,600.06. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,874 shares of company stock valued at $8,462,825. 0.39% of the stock is currently owned by company insiders.

Analyst Ratings Changes

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

Trane Technologies Price Performance

Shares of Trane Technologies stock traded up $1.30 during trading on Wednesday, hitting $296.39. 529,124 shares of the stock traded hands, compared to its average volume of 989,295. The stock has a market cap of $67.30 billion, a price-to-earnings ratio of 33.56, a PEG ratio of 2.46 and a beta of 1.05. The company has a quick ratio of 0.78, a current ratio of 1.13 and a debt-to-equity ratio of 0.57. Trane Technologies plc has a 52 week low of $162.04 and a 52 week high of $306.98. The firm’s fifty day moving average is $290.57 and its 200-day moving average is $252.93.

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, topping the consensus estimate of $2.13 by $0.04. The business had revenue of $4.42 billion during the quarter, compared to analyst estimates of $4.43 billion. Trane Technologies had a return on equity of 32.01% and a net margin of 11.45%. Trane Technologies’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.82 earnings per share. Research analysts expect that Trane Technologies plc will post 10.2 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be given a $0.84 dividend. The ex-dividend date is Thursday, June 6th. This represents a $3.36 annualized dividend and a yield of 1.13%. Trane Technologies’s payout ratio is currently 38.23%.

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.