nVerses Capital LLC Invests $1.01 Million in Trane Technologies plc (NYSE:TT)

nVerses Capital LLC purchased a new stake in Trane Technologies plc (NYSE:TT) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,600 shares of the company’s stock, valued at approximately $1,011,000.

Several other large investors also recently added to or reduced their stakes in TT. Walter Public Investments Inc. increased its holdings in shares of Trane Technologies by 1.3% in the 3rd quarter. Walter Public Investments Inc. now owns 55,868 shares of the company’s stock valued at $21,718,000 after purchasing an additional 717 shares during the period. Kowal Investment Group LLC lifted its position in Trane Technologies by 58.2% in the 3rd quarter. Kowal Investment Group LLC now owns 1,286 shares of the company’s stock worth $500,000 after buying an additional 473 shares in the last quarter. SPC Financial Inc. boosted its stake in shares of Trane Technologies by 7.4% during the 3rd quarter. SPC Financial Inc. now owns 1,314 shares of the company’s stock valued at $511,000 after buying an additional 91 shares during the period. McKinley Carter Wealth Services Inc. purchased a new position in shares of Trane Technologies during the 3rd quarter valued at $214,000. Finally, SeaCrest Wealth Management LLC increased its stake in shares of Trane Technologies by 3.6% in the third quarter. SeaCrest Wealth Management LLC now owns 1,394 shares of the company’s stock worth $542,000 after acquiring an additional 48 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Trane Technologies

In other Trane Technologies news, EVP Raymond D. Pittard sold 1,805 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total transaction of $593,213.25. Following the completion of the transaction, the executive vice president now owns 83,517 shares in the company, valued at $27,447,862.05. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO David S. Regnery sold 29,450 shares of Trane Technologies stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $321.25, for a total transaction of $9,460,812.50. Following the completion of the transaction, the chief executive officer now directly owns 132,946 shares of the company’s stock, valued at $42,708,902.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Raymond D. Pittard sold 1,805 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total transaction of $593,213.25. Following the sale, the executive vice president now directly owns 83,517 shares in the company, valued at $27,447,862.05. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by insiders.

Analysts Set New Price Targets

TT has been the subject of several recent research reports. Stephens reissued an “equal weight” rating and issued a $350.00 target price on shares of Trane Technologies in a research report on Monday, August 5th. Royal Bank of Canada raised their price objective on Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a research note on Thursday, August 1st. Robert W. Baird upped their target price on Trane Technologies from $360.00 to $365.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Morgan Stanley initiated coverage on shares of Trane Technologies in a research note on Friday, September 6th. They issued an “overweight” rating and a $425.00 price objective for the company. Finally, The Goldman Sachs Group raised their target price on shares of Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Trane Technologies currently has a consensus rating of “Hold” and a consensus price target of $373.58.

Trane Technologies Stock Performance

TT stock traded up $3.84 during trading on Thursday, reaching $399.08. 259,393 shares of the stock were exchanged, compared to its average volume of 1,095,124. Trane Technologies plc has a twelve month low of $184.02 and a twelve month high of $406.96. The company has a current ratio of 1.17, a quick ratio of 0.84 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $90.33 billion, a P/E ratio of 42.24, a price-to-earnings-growth ratio of 2.75 and a beta of 1.01. The stock has a 50 day simple moving average of $366.53 and a 200-day simple moving average of $338.04.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $3.30 earnings per share for the quarter, topping the consensus estimate of $3.08 by $0.22. The company had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.13 billion. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. Trane Technologies’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same quarter last year, the firm earned $2.68 EPS. As a group, sell-side analysts anticipate that Trane Technologies plc will post 10.88 earnings per share for the current year.

Trane Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.36 annualized dividend and a dividend yield of 0.84%. Trane Technologies’s dividend payout ratio (DPR) is currently 35.90%.

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.