Ransom Advisory Ltd Buys Shares of 3,418 Trane Technologies plc $TT

Ransom Advisory Ltd purchased a new position in Trane Technologies plc (NYSE:TT) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 3,418 shares of the company’s stock, valued at approximately $1,330,000.

Several other institutional investors and hedge funds have also made changes to their positions in TT. Aptus Capital Advisors LLC lifted its holdings in Trane Technologies by 169.8% in the 3rd quarter. Aptus Capital Advisors LLC now owns 14,738 shares of the company’s stock valued at $6,219,000 after purchasing an additional 9,276 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of Trane Technologies during the third quarter worth about $6,571,000. Nordea Investment Management AB grew its holdings in shares of Trane Technologies by 2.4% during the third quarter. Nordea Investment Management AB now owns 2,513,508 shares of the company’s stock worth $1,051,049,000 after buying an additional 57,774 shares in the last quarter. Boston Common Asset Management LLC acquired a new position in shares of Trane Technologies in the third quarter valued at approximately $9,546,000. Finally, Compass Wealth Management LLC lifted its stake in shares of Trane Technologies by 3,785.4% during the third quarter. Compass Wealth Management LLC now owns 27,198 shares of the company’s stock valued at $11,476,000 after buying an additional 26,498 shares during the period. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Trane Technologies Stock Performance

NYSE:TT opened at $422.99 on Friday. The company has a market cap of $93.62 billion, a P/E ratio of 32.59, a P/E/G ratio of 2.25 and a beta of 1.19. The firm’s 50 day moving average is $429.67 and its two-hundred day moving average is $417.28. Trane Technologies plc has a fifty-two week low of $298.15 and a fifty-two week high of $479.37. 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 announced its quarterly earnings data on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.81 by $0.05. The company had revenue of $5.14 billion during the quarter, compared to analysts’ expectations of $5.09 billion. Trane Technologies had a net margin of 13.69% and a return on equity of 36.34%. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the company earned $2.61 EPS. Analysts expect that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 6th will be given a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a yield of 1.0%. This is a boost from Trane Technologies’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Friday, March 6th. Trane Technologies’s dividend payout ratio (DPR) is presently 32.36%.

Insider Transactions at Trane Technologies

In other news, CAO Elizabeth A. Elwell sold 635 shares of the business’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $422.70, for a total transaction of $268,414.50. Following the completion of the sale, the chief accounting officer owned 7,100 shares in the company, valued at approximately $3,001,170. The trade was a 8.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David S. Regnery sold 36,045 shares of the stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $422.69, for a total transaction of $15,235,861.05. Following the sale, the chief executive officer directly owned 96,948 shares of the company’s stock, valued at approximately $40,978,950.12. This trade represents a 27.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 49,378 shares of company stock valued at $21,228,464. Insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on TT. UBS Group lowered their target price on shares of Trane Technologies from $544.00 to $520.00 and set a “buy” rating for the company in a research note on Monday, January 5th. Morgan Stanley decreased their price objective on Trane Technologies from $550.00 to $535.00 and set an “overweight” rating on the stock in a report on Tuesday, January 13th. Melius Research raised Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 price objective for the company in a research report on Wednesday, January 7th. Royal Bank Of Canada upped their target price on Trane Technologies from $469.00 to $470.00 and gave the company a “sector perform” rating in a research note on Friday, January 30th. Finally, JPMorgan Chase & Co. raised their price target on Trane Technologies from $434.00 to $460.00 and gave the stock a “neutral” rating in a research note on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $484.67.

About Trane Technologies

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.