Occudo Quantitative Strategies LP Buys Shares of 9,991 Trane Technologies plc (NYSE:TT)

Occudo Quantitative Strategies LP bought a new stake in Trane Technologies plc (NYSE:TT) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 9,991 shares of the company’s stock, valued at approximately $3,690,000. Trane Technologies comprises about 0.7% of Occudo Quantitative Strategies LP’s holdings, making the stock its 23rd largest position.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TT. Norges Bank purchased a new position in Trane Technologies in the fourth quarter valued at about $1,117,816,000. Raymond James Financial Inc. purchased a new position in Trane Technologies in the fourth quarter valued at about $611,322,000. Northern Trust Corp boosted its stake in Trane Technologies by 20.1% in the fourth quarter. Northern Trust Corp now owns 2,567,527 shares of the company’s stock valued at $948,316,000 after acquiring an additional 429,953 shares during the last quarter. BNP Paribas Financial Markets purchased a new position in Trane Technologies in the fourth quarter valued at about $137,999,000. Finally, Bank Julius Baer & Co. Ltd Zurich boosted its stake in Trane Technologies by 455.2% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 427,226 shares of the company’s stock valued at $167,977,000 after acquiring an additional 350,277 shares during the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Trane Technologies Stock Performance

Trane Technologies stock opened at $416.55 on Tuesday. The firm’s 50 day simple moving average is $351.40 and its 200 day simple moving average is $372.31. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $92.90 billion, a PE ratio of 37.03, a price-to-earnings-growth ratio of 2.50 and a beta of 1.14. Trane Technologies plc has a 1-year low of $298.15 and a 1-year high of $422.00.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $2.45 EPS for the quarter, topping analysts’ consensus estimates of $2.20 by $0.25. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. The firm had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.46 billion. During the same quarter in the prior year, the firm earned $1.94 EPS. The business’s revenue for the quarter was up 11.2% compared to the same quarter last year. As a group, analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be given a dividend of $0.94 per share. The ex-dividend date is Friday, June 6th. This represents a $3.76 annualized dividend and a yield of 0.90%. Trane Technologies’s payout ratio is currently 31.28%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Hsbc Global Res raised shares of Trane Technologies from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 25th. Wells Fargo & Company boosted their price target on shares of Trane Technologies from $330.00 to $370.00 and gave the company an “underweight” rating in a research report on Thursday, May 1st. Melius lowered shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price target on the stock. in a research report on Tuesday, January 28th. Royal Bank of Canada boosted their price target on shares of Trane Technologies from $363.00 to $408.00 and gave the company a “sector perform” rating in a research report on Thursday, May 1st. Finally, Barclays lowered their price target on shares of Trane Technologies from $500.00 to $475.00 and set an “overweight” rating on the stock in a research report on Monday, March 10th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $421.07.

Insider Buying and Selling at Trane Technologies

In related news, insider Donald E. Simmons sold 3,571 shares of the stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $380.00, for a total value of $1,356,980.00. Following the completion of the transaction, the insider now directly owns 3,593 shares in the company, valued at $1,365,340. This trade represents a 49.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.38% of the stock is currently owned by corporate insiders.

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.