GAMMA Investing LLC Grows Stock Holdings in Trane Technologies plc (NYSE:TT)

GAMMA Investing LLC boosted its position in Trane Technologies plc (NYSE:TT) by 142.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 4,283 shares of the company’s stock after acquiring an additional 2,514 shares during the period. GAMMA Investing LLC’s holdings in Trane Technologies were worth $1,409,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. GoalVest Advisory LLC grew its stake in shares of Trane Technologies by 157.1% during the 1st quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock valued at $27,000 after buying an additional 55 shares during the period. Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of Trane Technologies during the 1st quarter valued at $27,000. BOK Financial Private Wealth Inc. purchased a new stake in shares of Trane Technologies during the 1st quarter valued at $30,000. Sachetta LLC purchased a new stake in shares of Trane Technologies during the 4th quarter valued at $27,000. Finally, Motco purchased a new stake in Trane Technologies during the 4th quarter worth $27,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Trane Technologies

In other news, CFO Christopher J. Kuehn sold 4,000 shares of the stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer now directly owns 61,293 shares in the company, valued at $19,532,240.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Christopher J. Kuehn sold 4,000 shares of the stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer now directly owns 61,293 shares in the company, valued at $19,532,240.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Evan M. Turtz sold 8,988 shares of the stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $321.30, for a total transaction of $2,887,844.40. Following the completion of the transaction, the senior vice president now owns 20,758 shares of the company’s stock, valued at $6,669,545.40. The disclosure for this sale can be found here. Insiders own 0.38% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on TT. UBS Group upped their price target on shares of Trane Technologies from $330.00 to $375.00 and gave the stock a “buy” rating in a research report on Monday, June 3rd. JPMorgan Chase & Co. upped their price target on shares of Trane Technologies from $247.00 to $300.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Stephens upped their price target on shares of Trane Technologies from $310.00 to $320.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 1st. TD Cowen upped their price target on shares of Trane Technologies from $325.00 to $360.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Finally, Citigroup boosted their price objective on shares of Trane Technologies from $355.00 to $366.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. One 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 data from MarketBeat, Trane Technologies presently has an average rating of “Hold” and a consensus price target of $321.14.

Trane Technologies Stock Down 4.5 %

Shares of Trane Technologies stock traded down $14.88 during trading on Friday, reaching $318.45. The company had a trading volume of 2,070,074 shares, compared to its average volume of 1,336,537. The company has a market cap of $71.86 billion, a price-to-earnings ratio of 34.02, a price-to-earnings-growth ratio of 2.50 and a beta of 1.01. The firm’s fifty day moving average is $331.66 and its 200-day moving average is $306.41. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.74 and a current ratio of 1.17. Trane Technologies plc has a fifty-two week low of $184.02 and a fifty-two week high of $351.41.

Trane Technologies (NYSE:TT) last issued its earnings results on Wednesday, July 31st. The company reported $3.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.08 by $0.22. The business had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.13 billion. Trane Technologies had a net margin of 12.33% and a return on equity of 33.97%. The company’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.68 EPS. On average, analysts anticipate that Trane Technologies plc will post 10.83 EPS for the current year.

Trane Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend is Friday, September 6th. Trane Technologies’s dividend payout ratio is presently 35.90%.

About Trane Technologies

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.