Delta Global Management LP Makes New Investment in Trane Technologies plc $TT

Delta Global Management LP bought a new position in Trane Technologies plc (NYSE:TT) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 5,866 shares of the company’s stock, valued at approximately $2,283,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. 71 West Capital Partners acquired a new stake in shares of Trane Technologies in the 4th quarter worth $511,000. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Trane Technologies during the 4th quarter worth $804,000. Sienna Gestion purchased a new position in shares of Trane Technologies during the 4th quarter worth $14,792,000. Silvant Capital Management LLC grew its holdings in shares of Trane Technologies by 0.7% during the 4th quarter. Silvant Capital Management LLC now owns 17,533 shares of the company’s stock worth $6,824,000 after purchasing an additional 128 shares during the period. Finally, Progressive Investment Management Corp grew its holdings in shares of Trane Technologies by 39.7% during the 4th quarter. Progressive Investment Management Corp now owns 18,945 shares of the company’s stock worth $7,373,000 after purchasing an additional 5,381 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Trane Technologies Price Performance

TT stock opened at $472.54 on Tuesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.10 and a quick ratio of 0.77. The firm has a market capitalization of $104.45 billion, a P/E ratio of 36.55, a P/E/G ratio of 2.11 and a beta of 1.20. The business’s 50-day moving average is $464.34 and its two-hundred day moving average is $433.68. Trane Technologies plc has a 1 year low of $348.06 and a 1 year high of $503.47.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Friday, May 1st. The company reported $2.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.10. The company had revenue of $4.97 billion for the quarter, compared to analyst estimates of $4.81 billion. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.Trane Technologies’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter last year, the company earned $2.45 EPS. Analysts anticipate that Trane Technologies plc will post 14.88 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, September 4th will be given a $1.05 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $4.20 dividend on an annualized basis and a yield of 0.9%. Trane Technologies’s dividend payout ratio (DPR) is currently 32.48%.

Insider Transactions at Trane Technologies

In other news, insider Donald E. Simmons sold 4,593 shares of the firm’s stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $500.00, for a total transaction of $2,296,500.00. Following the sale, the insider owned 3,819 shares of the company’s stock, valued at approximately $1,909,500. This trade represents a 54.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Christopher J. Kuehn sold 8,619 shares of the firm’s stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $450.00, for a total value of $3,878,550.00. Following the sale, the chief financial officer directly owned 60,576 shares in the company, valued at $27,259,200. This trade represents a 12.46% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on TT. Weiss Ratings reiterated a “buy (b)” rating on shares of Trane Technologies in a report on Monday, April 20th. Barclays increased their price target on Trane Technologies from $507.00 to $585.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. JPMorgan Chase & Co. raised their target price on Trane Technologies from $460.00 to $476.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. KeyCorp raised their target price on Trane Technologies from $525.00 to $555.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Finally, Citigroup raised their target price on Trane Technologies from $525.00 to $570.00 and gave the company a “buy” rating in a report on Friday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $509.12.

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.