GAMMA Investing LLC Buys Shares of 1,568 Trane Technologies plc (NYSE:TT)

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

A number of other institutional investors and hedge funds have also modified their holdings of the business. Keel Point LLC grew its position in shares of Trane Technologies by 3.0% during the 4th quarter. Keel Point LLC now owns 1,326 shares of the company’s stock worth $323,000 after buying an additional 39 shares during the period. Rosenberg Matthew Hamilton increased its stake in Trane Technologies by 27.2% in the fourth quarter. Rosenberg Matthew Hamilton now owns 192 shares of the company’s stock valued at $47,000 after purchasing an additional 41 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its stake in Trane Technologies by 2.3% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,847 shares of the company’s stock valued at $450,000 after purchasing an additional 42 shares in the last quarter. Cedrus LLC raised its holdings in Trane Technologies by 2.6% in the fourth quarter. Cedrus LLC now owns 1,669 shares of the company’s stock worth $407,000 after purchasing an additional 43 shares during the period. Finally, Certuity LLC grew its holdings in shares of Trane Technologies by 3.1% in the 3rd quarter. Certuity LLC now owns 1,549 shares of the company’s stock valued at $314,000 after buying an additional 46 shares during the period. 82.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Trane Technologies Stock Up 0.4 %

Shares of Trane Technologies stock traded up $1.30 during trading hours on Wednesday, reaching $296.39. 529,124 shares of the company’s stock were exchanged, compared to its average volume of 989,295. The stock has a market cap of $67.30 billion, a P/E ratio of 33.56, a P/E/G ratio of 2.46 and a beta of 1.05. The company has a 50 day moving average of $290.57 and a two-hundred day moving average of $252.93. The company has a current ratio of 1.13, a quick ratio of 0.78 and a debt-to-equity ratio of 0.57. Trane Technologies plc has a fifty-two week low of $162.04 and a fifty-two week high of $306.98.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Thursday, February 1st. The company reported $2.17 EPS for the quarter, beating the consensus estimate of $2.13 by $0.04. Trane Technologies had a return on equity of 32.01% and a net margin of 11.45%. The firm had revenue of $4.42 billion during the quarter, compared to analysts’ expectations of $4.43 billion. During the same period in the prior year, the firm posted $1.82 earnings per share. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. On average, sell-side analysts forecast that Trane Technologies plc will post 10.2 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

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

Insider Buying and Selling at Trane Technologies

In related news, CFO Christopher J. Kuehn sold 2,767 shares of Trane Technologies stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $268.31, for a total transaction of $742,413.77. Following the completion of the transaction, the chief financial officer now owns 54,788 shares in the company, valued at $14,700,168.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Christopher J. Kuehn sold 2,767 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $268.31, for a total value of $742,413.77. Following the sale, the chief financial officer now owns 54,788 shares in the company, valued at approximately $14,700,168.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Evan M. Turtz sold 2,821 shares of Trane Technologies stock in a transaction on Monday, March 4th. The stock was sold at an average price of $288.33, for a total transaction of $813,378.93. Following the transaction, the senior vice president now directly owns 20,729 shares of the company’s stock, valued at $5,976,792.57. The disclosure for this sale can be found here. Insiders sold a total of 29,874 shares of company stock worth $8,462,825 over the last quarter. 0.39% of the stock is currently owned by insiders.

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.