Taika Capital LP Takes Position in Trane Technologies plc (NYSE:TT)

Taika Capital LP acquired a new stake in shares of Trane Technologies plc (NYSE:TT) in the fourth quarter, HoldingsChannel reports. The firm acquired 4,093 shares of the company’s stock, valued at approximately $1,512,000. Trane Technologies accounts for approximately 1.2% of Taika Capital LP’s holdings, making the stock its 28th biggest holding.

Other institutional investors have also recently made changes to their positions in the company. Tidal Investments LLC grew its stake in shares of Trane Technologies by 22.2% in the 3rd quarter. Tidal Investments LLC now owns 15,827 shares of the company’s stock worth $6,152,000 after buying an additional 2,874 shares in the last quarter. Synovus Financial Corp boosted its stake in Trane Technologies by 16.8% during the third quarter. Synovus Financial Corp now owns 8,828 shares of the company’s stock worth $3,431,000 after buying an additional 1,271 shares during the period. Ameritas Advisory Services LLC purchased a new position in Trane Technologies during the fourth quarter worth $468,000. HB Wealth Management LLC boosted its stake in Trane Technologies by 14.3% during the fourth quarter. HB Wealth Management LLC now owns 5,689 shares of the company’s stock worth $2,101,000 after buying an additional 711 shares during the period. Finally, GDS Wealth Management boosted its stake in Trane Technologies by 4.3% during the third quarter. GDS Wealth Management now owns 51,767 shares of the company’s stock worth $20,123,000 after buying an additional 2,124 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Activity

In other news, SVP Evan M. Turtz sold 318 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $358.12, for a total value of $113,882.16. Following the sale, the senior vice president now directly owns 20,513 shares in the company, valued at approximately $7,346,115.56. This trade represents a 1.53 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Mairead Magner sold 198 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total transaction of $70,806.78. Following the completion of the sale, the senior vice president now owns 13,401 shares in the company, valued at $4,792,331.61. This represents a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,234 shares of company stock worth $2,588,102. Corporate insiders own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on TT. UBS Group dropped their price objective on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Melius lowered shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price objective for the company. in a research note on Tuesday, January 28th. Barclays boosted their price objective on Trane Technologies from $440.00 to $500.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Northcoast Research began coverage on Trane Technologies in a report on Friday, November 22nd. They set a “buy” rating and a $500.00 price objective for the company. Finally, JPMorgan Chase & Co. boosted their price objective on Trane Technologies from $387.00 to $396.00 and gave the company a “neutral” rating in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $415.25.

Trane Technologies Stock Up 0.9 %

Shares of NYSE:TT opened at $344.81 on Monday. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. The business’s 50 day moving average is $367.96 and its 200 day moving average is $380.61. Trane Technologies plc has a 52-week low of $279.00 and a 52-week high of $422.00. The stock has a market cap of $77.34 billion, a P/E ratio of 30.65, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.52 by $0.09. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. Sell-side analysts predict that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be paid a dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, March 7th. This is an increase from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.09%. Trane Technologies’s dividend payout ratio (DPR) is currently 33.42%.

About Trane Technologies

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.