Trane Technologies plc $TT Stake Increased by Entropy Technologies LP

Entropy Technologies LP boosted its stake in Trane Technologies plc (NYSE:TT) by 11.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,227 shares of the company’s stock after acquiring an additional 4,282 shares during the period. Trane Technologies accounts for 0.8% of Entropy Technologies LP’s portfolio, making the stock its 14th largest position. Entropy Technologies LP’s holdings in Trane Technologies were worth $17,598,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in TT. Tucker Asset Management LLC acquired a new stake in shares of Trane Technologies in the 4th quarter valued at about $25,000. Wilkerson Advisory Group LLC grew its stake in Trane Technologies by 136.0% in the first quarter. Wilkerson Advisory Group LLC now owns 59 shares of the company’s stock worth $25,000 after purchasing an additional 34 shares in the last quarter. Hilton Head Capital Partners LLC acquired a new position in Trane Technologies in the fourth quarter worth about $32,000. JPL Wealth Management LLC bought a new stake in Trane Technologies in the third quarter valued at about $32,000. Finally, Physician Wealth Advisors Inc. raised its stake in Trane Technologies by 192.6% during the first quarter. Physician Wealth Advisors Inc. now owns 79 shares of the company’s stock valued at $33,000 after buying an additional 52 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Trane Technologies Stock Up 0.3%

NYSE:TT opened at $481.09 on Friday. The company has a current ratio of 1.10, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46. The stock has a 50 day moving average of $470.13 and a 200-day moving average of $449.87. The firm has a market capitalization of $106.35 billion, a PE ratio of 37.21, a price-to-earnings-growth ratio of 2.21 and a beta of 1.19. Trane Technologies plc has a 52 week low of $348.06 and a 52 week high of $505.87.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Friday, May 1st. The company reported $2.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.10. The business had revenue of $4.97 billion for the quarter, compared to the consensus estimate of $4.81 billion. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The business’s revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the business posted $2.45 EPS. Analysts predict that Trane Technologies plc will post 14.89 EPS for the current year.

Trane Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 4th will be issued a dividend of $1.05 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $4.20 annualized dividend and a dividend yield of 0.9%. Trane Technologies’s payout ratio is 32.48%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. BNP Paribas Exane initiated coverage on Trane Technologies in a research report on Tuesday, April 14th. They issued an “outperform” rating and a $550.00 target price for the company. KeyCorp raised their price objective on Trane Technologies from $525.00 to $555.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Citigroup lifted their price objective on shares of Trane Technologies from $525.00 to $570.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Royal Bank Of Canada boosted their target price on shares of Trane Technologies from $440.00 to $501.00 and gave the company a “sector perform” rating in a research note on Friday, May 1st. Finally, JPMorgan Chase & Co. raised their price target on shares of Trane Technologies from $460.00 to $476.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $516.67.

Insider Activity

In other news, insider Donald E. Simmons sold 4,593 shares of the company’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $500.00, for a total transaction of $2,296,500.00. Following the completion of the transaction, the insider 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.43% of the company’s stock.

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.