Qsemble Capital Management LP Buys Shares of 14,600 Trane Technologies plc $TT

Qsemble Capital Management LP bought a new stake in shares of Trane Technologies plc (NYSE:TT) during the 4th quarter, HoldingsChannel.com reports. The firm bought 14,600 shares of the company’s stock, valued at approximately $5,682,000.

Several other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Trane Technologies by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 20,020,321 shares of the company’s stock valued at $7,791,909,000 after purchasing an additional 192,270 shares during the period. JPMorgan Chase & Co. raised its stake in Trane Technologies by 10.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 15,525,010 shares of the company’s stock valued at $6,550,975,000 after purchasing an additional 1,433,563 shares during the period. Nordea Investment Management AB raised its stake in Trane Technologies by 2.9% during the 4th quarter. Nordea Investment Management AB now owns 2,586,506 shares of the company’s stock valued at $1,010,419,000 after purchasing an additional 72,998 shares during the period. Bank of America Corp DE raised its stake in Trane Technologies by 9.2% during the 3rd quarter. Bank of America Corp DE now owns 2,422,690 shares of the company’s stock valued at $1,022,278,000 after purchasing an additional 203,766 shares during the period. Finally, Legal & General Group Plc raised its stake in Trane Technologies by 2.4% during the 3rd quarter. Legal & General Group Plc now owns 1,880,221 shares of the company’s stock valued at $793,378,000 after purchasing an additional 44,243 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Trane Technologies Trading Down 3.1%

Shares of NYSE:TT opened at $466.65 on Friday. The stock has a market capitalization of $103.15 billion, a PE ratio of 36.09, a P/E/G ratio of 2.22 and a beta of 1.25. Trane Technologies plc has a 1 year low of $348.06 and a 1 year high of $503.47. The firm has a fifty day moving average price of $450.17 and a 200 day moving average price of $428.86. The company has a current ratio of 1.10, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Friday, May 1st. The company reported $2.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.10. The firm had revenue of $4.97 billion during the quarter, compared to analysts’ expectations of $4.81 billion. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. Trane Technologies’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the prior year, the company posted $2.45 earnings per share. Analysts expect that Trane Technologies plc will post 14.87 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 5th will be issued a $1.05 dividend. The ex-dividend date is Friday, June 5th. This represents a $4.20 dividend on an annualized basis and a yield of 0.9%. Trane Technologies’s dividend payout ratio is currently 32.48%.

Insider Buying and Selling at Trane Technologies

In related news, insider Donald E. Simmons sold 4,593 shares of the company’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $500.00, for a total value of $2,296,500.00. Following the completion of the sale, the insider directly owned 3,819 shares in the company, valued at approximately $1,909,500. This represents a 54.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Elizabeth A. Elwell sold 635 shares of the company’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $422.70, for a total transaction of $268,414.50. Following the sale, the chief accounting officer owned 7,100 shares of the company’s stock, valued at $3,001,170. This trade represents a 8.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 53,654 shares of company stock valued at $23,269,523. Company insiders own 0.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on TT. KeyCorp boosted their target price on shares of Trane Technologies from $525.00 to $555.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. JPMorgan Chase & Co. boosted their price target on shares of Trane Technologies from $460.00 to $476.00 and gave the company a “neutral” rating in a report on Thursday. Royal Bank Of Canada boosted their price target on shares of Trane Technologies from $440.00 to $501.00 and gave the company a “sector perform” rating in a report on Friday, May 1st. Evercore began coverage on shares of Trane Technologies in a report on Monday, April 13th. They set an “outperform” rating and a $535.00 price target on the stock. Finally, Citigroup boosted their price target 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. One analyst has 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’s stock. According to data from MarketBeat.com, Trane Technologies has a consensus rating of “Moderate Buy” and an average target price of $506.56.

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.