Headlands Technologies LLC Grows Position in Trane Technologies plc (NYSE:TT)

Headlands Technologies LLC increased its holdings in Trane Technologies plc (NYSE:TT) by 1,780.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,448 shares of the company’s stock after acquiring an additional 1,371 shares during the quarter. Headlands Technologies LLC’s holdings in Trane Technologies were worth $353,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TT. International Assets Investment Management LLC lifted its stake in Trane Technologies by 24,670.7% in the fourth quarter. International Assets Investment Management LLC now owns 1,034,423 shares of the company’s stock worth $252,296,000 after acquiring an additional 1,030,247 shares during the period. JPMorgan Chase & Co. raised its holdings in Trane Technologies by 5.4% in the third quarter. JPMorgan Chase & Co. now owns 17,085,662 shares of the company’s stock worth $3,466,852,000 after purchasing an additional 880,583 shares in the last quarter. FMR LLC raised its holdings in Trane Technologies by 12.4% in the third quarter. FMR LLC now owns 5,743,154 shares of the company’s stock worth $1,165,343,000 after purchasing an additional 632,598 shares in the last quarter. Wellington Management Group LLP raised its holdings in Trane Technologies by 36.4% in the third quarter. Wellington Management Group LLP now owns 1,639,058 shares of the company’s stock worth $332,581,000 after purchasing an additional 436,997 shares in the last quarter. Finally, Alphinity Investment Management Pty Ltd raised its holdings in Trane Technologies by 31.4% in the third quarter. Alphinity Investment Management Pty Ltd now owns 1,812,549 shares of the company’s stock worth $367,784,000 after purchasing an additional 433,388 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling

In other Trane Technologies news, CEO David S. Regnery sold 6,990 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $286.19, for a total value of $2,000,468.10. Following the transaction, the chief executive officer now directly owns 113,874 shares of the company’s stock, valued at $32,589,600.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Trane Technologies news, CEO David S. Regnery sold 6,990 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $286.19, for a total value of $2,000,468.10. Following the transaction, the chief executive officer now directly owns 113,874 shares of the company’s stock, valued at $32,589,600.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Keith A. Sultana sold 1,637 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $267.74, for a total value of $438,290.38. Following the completion of the transaction, the senior vice president now directly owns 42,374 shares in the company, valued at $11,345,214.76. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,874 shares of company stock worth $8,462,825. 0.39% of the stock is owned by corporate insiders.

Trane Technologies Price Performance

NYSE TT opened at $304.53 on Friday. Trane Technologies plc has a one year low of $162.04 and a one year high of $306.98. The stock has a 50-day moving average of $292.22 and a 200 day moving average of $254.57. The company has a market capitalization of $69.15 billion, a price-to-earnings ratio of 34.65, a PEG ratio of 2.57 and a beta of 1.05. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.78 and a current ratio of 1.13.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Thursday, February 1st. The company reported $2.17 EPS for the quarter, topping 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 company had revenue of $4.42 billion during the quarter, compared to the consensus estimate of $4.43 billion. During the same period last year, the company earned $1.82 EPS. Trane Technologies’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, sell-side analysts forecast that Trane Technologies plc will post 10.2 EPS for the current year.

Trane Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be issued a $0.84 dividend. The ex-dividend date is Thursday, June 6th. This represents a $3.36 annualized dividend and a yield of 1.10%. Trane Technologies’s payout ratio is 38.23%.

Analyst Upgrades and Downgrades

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

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.