Spirepoint Private Client LLC Takes $383,000 Position in Trane Technologies plc (NYSE:TT)

Spirepoint Private Client LLC acquired a new stake in Trane Technologies plc (NYSE:TT) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,276 shares of the company’s stock, valued at approximately $383,000.

A number of other hedge funds have also made changes to their positions in the business. JPMorgan Chase & Co. increased its holdings in shares of Trane Technologies by 0.5% in the 1st quarter. JPMorgan Chase & Co. now owns 17,393,733 shares of the company’s stock valued at $5,221,599,000 after acquiring an additional 80,536 shares during the last quarter. First Foundation Advisors grew its stake in Trane Technologies by 84.7% during the 1st quarter. First Foundation Advisors now owns 665 shares of the company’s stock worth $200,000 after buying an additional 305 shares during the last quarter. Councilmark Asset Management LLC purchased a new position in Trane Technologies during the 1st quarter worth approximately $345,000. Pinkerton Retirement Specialists LLC grew its stake in Trane Technologies by 22.0% during the 1st quarter. Pinkerton Retirement Specialists LLC now owns 1,083 shares of the company’s stock worth $325,000 after buying an additional 195 shares during the last quarter. Finally, M&G Plc purchased a new position in Trane Technologies during the 1st quarter worth approximately $8,939,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on TT shares. Barclays raised their price target on Trane Technologies from $380.00 to $385.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Citigroup raised their price target on Trane Technologies from $355.00 to $366.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. TD Cowen increased their price objective on Trane Technologies from $325.00 to $360.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Mizuho increased their price objective on Trane Technologies from $280.00 to $325.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Finally, Stephens increased their price objective on Trane Technologies from $310.00 to $320.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Trane Technologies currently has a consensus rating of “Hold” and a consensus price target of $312.36.

Insider Activity

In other news, CFO Christopher J. Kuehn sold 4,000 shares of Trane Technologies stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $318.67, for a total value of $1,274,680.00. Following the completion of the sale, the chief financial officer now owns 61,293 shares of the company’s stock, valued at $19,532,240.31. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Trane Technologies news, SVP Evan M. Turtz sold 8,988 shares of the business’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $321.30, for a total transaction of $2,887,844.40. Following the completion of the sale, the senior vice president now owns 20,758 shares of the company’s stock, valued at $6,669,545.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Christopher J. Kuehn sold 4,000 shares of the business’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $318.67, for a total value of $1,274,680.00. Following the sale, the chief financial officer now directly owns 61,293 shares of the company’s stock, valued at approximately $19,532,240.31. The disclosure for this sale can be found here. Company insiders own 0.38% of the company’s stock.

Trane Technologies Price Performance

Trane Technologies stock traded down $0.23 during mid-day trading on Friday, hitting $330.14. 1,397,883 shares of the company were exchanged, compared to its average volume of 1,343,319. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.13 and a quick ratio of 0.74. The business’s 50 day simple moving average is $331.65 and its two-hundred day simple moving average is $299.82. The company has a market capitalization of $74.73 billion, a P/E ratio of 35.27, a PEG ratio of 2.56 and a beta of 1.01. Trane Technologies plc has a 12-month low of $184.02 and a 12-month high of $347.33.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Tuesday, April 30th. The company reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.30. The company had revenue of $4.22 billion during the quarter, compared to the consensus estimate of $3.99 billion. Trane Technologies had a return on equity of 32.78% and a net margin of 11.81%. Trane Technologies’s revenue was up 15.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.41 earnings per share. Analysts forecast that Trane Technologies plc will post 10.49 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date is Friday, September 6th. Trane Technologies’s dividend payout ratio is currently 35.90%.

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.