Rit Capital Partners PLC Takes $21.71 Million Position in Trane Technologies plc $TT

Rit Capital Partners PLC acquired a new position in shares of Trane Technologies plc (NYSE:TT) in the 1st quarter, HoldingsChannel reports. The firm acquired 52,100 shares of the company’s stock, valued at approximately $21,715,000. Trane Technologies accounts for about 5.8% of Rit Capital Partners PLC’s portfolio, making the stock its 9th biggest position.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Trane Technologies during the 4th quarter worth approximately $1,163,124,000. Capital International Investors acquired a new position in Trane Technologies in the fourth quarter valued at approximately $324,639,000. Hsbc Holdings PLC lifted its holdings in Trane Technologies by 215.9% in the first quarter. Hsbc Holdings PLC now owns 653,423 shares of the company’s stock valued at $271,950,000 after acquiring an additional 446,598 shares during the last quarter. Corient Private Wealth LLC grew its position in Trane Technologies by 135.4% in the second quarter. Corient Private Wealth LLC now owns 735,589 shares of the company’s stock worth $321,757,000 after acquiring an additional 423,090 shares during the period. Finally, SG Americas Securities LLC increased its stake in Trane Technologies by 13,460.8% during the fourth quarter. SG Americas Securities LLC now owns 423,504 shares of the company’s stock worth $164,828,000 after acquiring an additional 420,381 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Trane Technologies Stock Up 0.5%

Shares of NYSE TT opened at $470.42 on Wednesday. The company has a quick ratio of 0.77, a current ratio of 1.10 and a debt-to-equity ratio of 0.46. The business’s 50 day moving average is $469.78 and its two-hundred day moving average is $448.47. Trane Technologies plc has a 52-week low of $348.06 and a 52-week high of $505.87. The firm has a market cap of $103.99 billion, a price-to-earnings ratio of 36.38, a PEG ratio of 2.15 and a beta of 1.19.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Friday, May 1st. The company reported $2.63 EPS for the quarter, topping the consensus estimate of $2.53 by $0.10. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The business had revenue of $4.97 billion during the quarter, compared to analyst estimates of $4.81 billion. During the same period last year, the business posted $2.45 earnings per share. The company’s quarterly revenue was up 6.0% on a year-over-year basis. Research analysts predict that Trane Technologies plc will post 14.89 EPS for the current year.

Trane Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 4th will be issued a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Friday, September 4th. Trane Technologies’s dividend payout ratio (DPR) is 32.48%.

Insider Buying and Selling

In other Trane Technologies news, insider Donald E. Simmons sold 4,593 shares of Trane Technologies stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $500.00, for a total value of $2,296,500.00. Following the completion of the transaction, the insider directly owned 3,819 shares of the company’s stock, valued at $1,909,500. The trade was a 54.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 Analyst Weigh In

A number of research firms have commented on TT. Weiss Ratings restated a “buy (b)” rating on shares of Trane Technologies in a research report on Friday. Sanford C. Bernstein set a $555.00 price objective on Trane Technologies in a research report on Thursday, July 9th. Citigroup boosted their price objective on shares of Trane Technologies from $525.00 to $570.00 and gave the company a “buy” rating in a report on Friday, May 1st. KeyCorp upped their target price on shares of Trane Technologies from $525.00 to $555.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Finally, BNP Paribas Exane began coverage on shares of Trane Technologies in a research note on Tuesday, April 14th. They set an “outperform” rating and a $550.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Trane Technologies currently has an average rating of “Moderate Buy” and an average target price of $516.67.

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.