Moore Capital Management LP Invests $43.06 Million in Trane Technologies plc $TT

Moore Capital Management LP acquired a new position in Trane Technologies plc (NYSE:TT) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 102,053 shares of the company’s stock, valued at approximately $43,062,000.

Several other large investors have also added to or reduced their stakes in the business. Aptus Capital Advisors LLC increased its position in shares of Trane Technologies by 169.8% in the third quarter. Aptus Capital Advisors LLC now owns 14,738 shares of the company’s stock valued at $6,219,000 after acquiring an additional 9,276 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Trane Technologies during the third quarter valued at approximately $6,571,000. Nordea Investment Management AB boosted its position in Trane Technologies by 2.4% during the third quarter. Nordea Investment Management AB now owns 2,513,508 shares of the company’s stock valued at $1,051,049,000 after purchasing an additional 57,774 shares during the last quarter. Boston Common Asset Management LLC bought a new position in Trane Technologies in the third quarter valued at approximately $9,546,000. Finally, Compass Wealth Management LLC increased its position in shares of Trane Technologies by 3,785.4% during the 3rd quarter. Compass Wealth Management LLC now owns 27,198 shares of the company’s stock worth $11,476,000 after purchasing an additional 26,498 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Trading Down 0.2%

Shares of TT stock opened at $421.48 on Tuesday. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $479.37. The company has a market capitalization of $93.29 billion, a PE ratio of 32.47, a price-to-earnings-growth ratio of 2.22 and a beta of 1.19. The firm has a 50 day moving average price of $426.89 and a two-hundred day moving average price of $417.11. The company has a quick ratio of 0.92, a current ratio of 1.25 and a debt-to-equity ratio of 0.46.

Trane Technologies (NYSE:TT) last posted its earnings results on Thursday, January 29th. The company reported $2.86 EPS for the quarter, beating the consensus estimate of $2.81 by $0.05. The company had revenue of $5.14 billion for the quarter, compared to the consensus estimate of $5.09 billion. Trane Technologies had a return on equity of 36.34% and a net margin of 13.69%.The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.61 earnings per share. As a group, 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 Tuesday, March 31st. Investors of record on Friday, March 6th will be paid a $1.05 dividend. This is a boost from Trane Technologies’s previous quarterly dividend of $0.94. The ex-dividend date is Friday, March 6th. This represents a $4.20 annualized dividend and a yield of 1.0%. Trane Technologies’s dividend payout ratio is presently 32.36%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Royal Bank Of Canada increased their price objective on Trane Technologies from $469.00 to $470.00 and gave the company a “sector perform” rating in a report on Friday, January 30th. Weiss Ratings restated a “buy (b)” rating on shares of Trane Technologies in a report on Wednesday, January 21st. KeyCorp raised shares of Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 price target on the stock in a research report on Monday, December 15th. Oppenheimer increased their price target on shares of Trane Technologies from $460.00 to $468.00 and gave the company an “outperform” rating in a research note on Friday, January 30th. Finally, Morgan Stanley decreased their price objective on shares of Trane Technologies from $550.00 to $535.00 and set an “overweight” rating for the company in a research report on Tuesday, January 13th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $484.67.

Insider Transactions at Trane Technologies

In other news, insider Donald E. Simmons sold 3,762 shares of the business’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $422.70, for a total value of $1,590,197.40. Following the completion of the sale, the insider owned 3,819 shares of the company’s stock, valued at approximately $1,614,291.30. The trade was a 49.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Elizabeth A. Elwell sold 635 shares of the company’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $422.70, for a total transaction of $268,414.50. Following the completion of the transaction, the chief accounting officer owned 7,100 shares in the company, valued at $3,001,170. This trade represents a 8.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 49,378 shares of company stock valued at $21,228,464. Corporate insiders own 0.14% of the company’s stock.

Trane Technologies Company Profile

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.