Regents Gate Capital LLP Purchases Shares of 27,442 Trane Technologies plc (NYSE:TT)

Regents Gate Capital LLP acquired a new position in shares of Trane Technologies plc (NYSE:TT) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 27,442 shares of the company’s stock, valued at approximately $10,136,000. Trane Technologies makes up approximately 4.0% of Regents Gate Capital LLP’s portfolio, making the stock its 7th biggest holding.

A number of other hedge funds have also modified their holdings of the stock. Tidal Investments LLC raised its position in Trane Technologies by 22.2% during the third quarter. Tidal Investments LLC now owns 15,827 shares of the company’s stock valued at $6,152,000 after buying an additional 2,874 shares during the period. Synovus Financial Corp increased its holdings in shares of Trane Technologies by 16.8% in the 3rd quarter. Synovus Financial Corp now owns 8,828 shares of the company’s stock valued at $3,431,000 after purchasing an additional 1,271 shares during the period. Ameritas Advisory Services LLC acquired a new stake in shares of Trane Technologies during the fourth quarter worth approximately $468,000. HB Wealth Management LLC grew its position in Trane Technologies by 14.3% during the fourth quarter. HB Wealth Management LLC now owns 5,689 shares of the company’s stock valued at $2,101,000 after purchasing an additional 711 shares in the last quarter. Finally, GDS Wealth Management increased its stake in Trane Technologies by 4.3% in the 3rd quarter. GDS Wealth Management now owns 51,767 shares of the company’s stock valued at $20,123,000 after buying an additional 2,124 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Trane Technologies

In other news, CFO Christopher J. Kuehn sold 876 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.42, for a total transaction of $313,099.92. Following the completion of the transaction, the chief financial officer now directly owns 63,841 shares of the company’s stock, valued at approximately $22,818,050.22. This trade represents a 1.35 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David S. Regnery sold 2,754 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total transaction of $984,114.36. Following the completion of the sale, the chief executive officer now directly owns 132,969 shares in the company, valued at approximately $47,515,142.46. The trade was a 2.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,157 shares of company stock valued at $3,168,885 in the last quarter. Corporate insiders own 0.38% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on TT. Northcoast Research initiated coverage on shares of Trane Technologies in a report on Friday, November 22nd. They set a “buy” rating and a $500.00 price target on the stock. Hsbc Global Res downgraded Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Mizuho lifted their price target on Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Barclays increased their price objective on Trane Technologies from $440.00 to $500.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Finally, Robert W. Baird decreased their target price on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Trane Technologies currently has an average rating of “Hold” and an average price target of $415.25.

Trane Technologies Price Performance

Shares of NYSE:TT opened at $356.07 on Monday. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. The business has a 50 day moving average price of $383.65 and a 200 day moving average price of $377.31. The company has a market cap of $80.12 billion, a price-to-earnings ratio of 31.65, a PEG ratio of 2.44 and a beta of 1.05. Trane Technologies plc has a twelve month low of $265.37 and a twelve month high of $422.00.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.52 by $0.09. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. Research analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 1.06%. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Friday, March 7th. Trane Technologies’s payout ratio is currently 29.87%.

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.