Interval Partners LP Sells 52,566 Shares of Trane Technologies plc $TT

Interval Partners LP lessened its holdings in Trane Technologies plc (NYSE:TT) by 39.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 80,456 shares of the company’s stock after selling 52,566 shares during the period. Interval Partners LP’s holdings in Trane Technologies were worth $31,313,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Tucker Asset Management LLC bought a new position in Trane Technologies in the fourth quarter valued at about $25,000. Hilton Head Capital Partners LLC bought a new position in Trane Technologies in the fourth quarter valued at about $32,000. JPL Wealth Management LLC bought a new stake in shares of Trane Technologies during the third quarter worth about $32,000. Kemnay Advisory Services Inc. bought a new stake in shares of Trane Technologies during the fourth quarter worth about $34,000. Finally, Creative Financial Designs Inc. ADV grew its holdings in shares of Trane Technologies by 119.5% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 90 shares of the company’s stock worth $35,000 after purchasing an additional 49 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling

In related news, CFO Christopher J. Kuehn sold 8,619 shares of Trane Technologies stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $450.00, for a total value of $3,878,550.00. Following the transaction, the chief financial officer directly owned 60,576 shares of the company’s stock, valued at $27,259,200. The trade was a 12.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 approximately $1,909,500. This trade represents a 54.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is owned by insiders.

Trane Technologies Price Performance

Trane Technologies stock opened at $472.61 on Thursday. The stock’s 50 day moving average is $466.16 and its 200 day moving average is $434.44. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.10 and a quick ratio of 0.77. The firm has a market cap of $104.47 billion, a P/E ratio of 36.55, a P/E/G ratio of 2.19 and a beta of 1.20. Trane Technologies plc has a one year low of $348.06 and a one year high of $503.47.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Friday, May 1st. The company reported $2.63 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.10. The company had revenue of $4.97 billion for the quarter, compared to analyst estimates of $4.81 billion. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The firm’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the firm earned $2.45 earnings per share. As a group, research analysts expect that Trane Technologies plc will post 14.88 EPS for the current year.

Trane Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 4th will be paid a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, September 4th. Trane Technologies’s payout ratio is currently 32.48%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Sanford C. Bernstein assumed coverage on Trane Technologies in a report on Tuesday, June 9th. They set an “outperform” rating and a $550.00 price target on the stock. Evercore assumed coverage on Trane Technologies in a report on Monday, April 13th. They set an “outperform” rating and a $535.00 price target on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Trane Technologies in a report on Monday, April 20th. Barclays boosted their price target on Trane Technologies from $507.00 to $585.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Finally, KeyCorp boosted their price target on Trane Technologies from $525.00 to $555.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Trane Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $509.12.

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.