39,172 Shares in Trane Technologies plc (NYSE:TT) Acquired by Interval Partners LP

Interval Partners LP acquired a new position in Trane Technologies plc (NYSE:TT) during the first quarter, HoldingsChannel reports. The fund acquired 39,172 shares of the company’s stock, valued at approximately $11,759,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of TT. Center for Financial Planning Inc. increased its holdings in shares of Trane Technologies by 1.7% in the first quarter. Center for Financial Planning Inc. now owns 2,080 shares of the company’s stock valued at $624,000 after purchasing an additional 34 shares in the last quarter. Keel Point LLC raised its position in shares of Trane Technologies by 3.0% during the fourth quarter. Keel Point LLC now owns 1,326 shares of the company’s stock worth $323,000 after acquiring an additional 39 shares during the last quarter. Dorsey & Whitney Trust CO LLC lifted its stake in shares of Trane Technologies by 2.3% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 1,760 shares of the company’s stock valued at $528,000 after acquiring an additional 39 shares during the period. Level Four Advisory Services LLC boosted its holdings in Trane Technologies by 1.5% in the fourth quarter. Level Four Advisory Services LLC now owns 2,757 shares of the company’s stock valued at $672,000 after acquiring an additional 42 shares during the last quarter. Finally, Cedrus LLC increased its position in Trane Technologies by 2.6% in the fourth quarter. Cedrus LLC now owns 1,669 shares of the company’s stock worth $407,000 after purchasing an additional 43 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

TT has been the topic of a number of research reports. Barclays upped their target price on shares of Trane Technologies from $380.00 to $385.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. UBS Group raised their price objective on shares of Trane Technologies from $330.00 to $375.00 and gave the company a “buy” rating in a research note on Monday, June 3rd. Stephens upped their target price on shares of Trane Technologies from $310.00 to $320.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 1st. Citigroup raised their price target on Trane Technologies from $355.00 to $366.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Finally, Wells Fargo & Company upped their price objective on Trane Technologies from $295.00 to $310.00 and gave the company an “underweight” rating in a report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $312.36.

Insiders Place Their Bets

In related news, SVP Evan M. Turtz sold 8,988 shares of Trane Technologies stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $321.30, for a total value of $2,887,844.40. Following the sale, the senior vice president now owns 20,758 shares of the company’s stock, valued at approximately $6,669,545.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, SVP Evan M. Turtz sold 8,988 shares of Trane Technologies stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $321.30, for a total value of $2,887,844.40. Following the sale, the senior vice president now owns 20,758 shares of the company’s stock, valued at $6,669,545.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Christopher J. Kuehn sold 4,000 shares of the stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $318.67, for a total value of $1,274,680.00. Following the transaction, the chief financial officer now directly owns 61,293 shares of the company’s stock, valued at $19,532,240.31. The disclosure for this sale can be found here. Corporate insiders own 0.38% of the company’s stock.

Trane Technologies Stock Down 0.9 %

Shares of NYSE:TT traded down $3.01 during trading on Tuesday, hitting $328.83. 1,338,893 shares of the company’s stock traded hands, compared to its average volume of 1,114,096. The company has a current ratio of 1.13, a quick ratio of 0.74 and a debt-to-equity ratio of 0.58. The company has a 50-day moving average price of $332.16 and a 200-day moving average price of $304.06. Trane Technologies plc has a 52 week low of $184.02 and a 52 week high of $347.33. The company has a market cap of $74.43 billion, a price-to-earnings ratio of 35.46, a price-to-earnings-growth ratio of 2.55 and a beta of 1.01.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $1.94 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.30. Trane Technologies had a net margin of 11.81% and a return on equity of 32.78%. The firm had revenue of $4.22 billion for the quarter, compared to analyst estimates of $3.99 billion. During the same quarter in the previous year, the firm posted $1.41 earnings per share. The business’s revenue was up 15.0% on a year-over-year basis. As a group, research analysts forecast that Trane Technologies plc will post 10.49 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date is Friday, September 6th. Trane Technologies’s payout ratio is presently 35.90%.

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.