Trane Technologies plc (NYSE:TT) Shares Sold by Sharpepoint LLC

Sharpepoint LLC lowered its position in Trane Technologies plc (NYSE:TT) by 6.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 700 shares of the company’s stock after selling 50 shares during the period. Sharpepoint LLC’s holdings in Trane Technologies were worth $247,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Trane Technologies in the fourth quarter valued at about $1,117,816,000. GAMMA Investing LLC increased its holdings in Trane Technologies by 35,458.2% in the first quarter. GAMMA Investing LLC now owns 2,015,792 shares of the company’s stock valued at $679,161,000 after buying an additional 2,010,123 shares in the last quarter. Northern Trust Corp increased its holdings 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 buying an additional 429,953 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Trane Technologies in the fourth quarter valued at about $147,251,000. Finally, BNP Paribas Financial Markets purchased a new position in Trane Technologies in the fourth quarter valued at about $137,999,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Buying and Selling at Trane Technologies

In related news, insider Donald E. Simmons sold 3,571 shares of the stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $380.00, for a total transaction of $1,356,980.00. Following the completion of the sale, the insider directly owned 3,593 shares of the company’s stock, valued at $1,365,340. This represents a 49.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.38% of the company’s stock.

Trane Technologies Price Performance

TT opened at $433.49 on Thursday. The company has a 50-day moving average of $424.42 and a 200-day moving average of $380.38. The company has a market capitalization of $96.68 billion, a P/E ratio of 36.06, a PEG ratio of 2.78 and a beta of 1.15. Trane Technologies plc has a 1-year low of $298.15 and a 1-year high of $438.95. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.74 and a current ratio of 1.09.

Trane Technologies (NYSE:TT) last posted its earnings results on Wednesday, April 30th. The company reported $2.45 EPS for the quarter, topping the consensus estimate of $2.20 by $0.25. The firm had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.46 billion. Trane Technologies had a net margin of 13.47% and a return on equity of 36.10%. Trane Technologies’s quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.94 EPS. Equities analysts expect that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date is Friday, September 5th. Trane Technologies’s dividend payout ratio is currently 31.28%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on TT. HSBC raised shares of Trane Technologies from a “hold” rating to a “buy” rating and raised their price objective for the stock from $405.00 to $415.00 in a research note on Friday, April 25th. Hsbc Global Res raised shares of Trane Technologies from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 25th. Robert W. Baird raised their price objective on shares of Trane Technologies from $360.00 to $396.00 and gave the stock a “neutral” rating in a research note on Thursday, May 1st. Barclays lifted their target price on shares of Trane Technologies from $476.00 to $480.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Wells Fargo & Company lifted their target price on shares of Trane Technologies from $370.00 to $410.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 1st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $434.00.

Trane Technologies Company 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.