Semanteon Capital Management LP Makes New Investment in Trane Technologies plc (NYSE:TT)

Semanteon Capital Management LP purchased a new position in Trane Technologies plc (NYSE:TT) in the fourth quarter, HoldingsChannel reports. The firm purchased 2,996 shares of the company’s stock, valued at approximately $1,107,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TT. FMR LLC boosted its holdings in Trane Technologies by 4.0% in the 3rd quarter. FMR LLC now owns 10,337,672 shares of the company’s stock worth $4,018,563,000 after buying an additional 397,537 shares during the period. State Street Corp raised its stake in Trane Technologies by 0.8% during the 3rd quarter. State Street Corp now owns 9,769,161 shares of the company’s stock valued at $3,797,565,000 after purchasing an additional 77,830 shares during the period. Geode Capital Management LLC lifted its holdings in Trane Technologies by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 4,638,914 shares of the company’s stock worth $1,797,700,000 after purchasing an additional 65,991 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Trane Technologies by 35.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,550,511 shares of the company’s stock worth $991,460,000 after purchasing an additional 671,691 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Trane Technologies by 0.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,142,081 shares of the company’s stock valued at $832,691,000 after buying an additional 20,151 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TT has been the subject of a number of research reports. Wells Fargo & Company dropped their target price on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a research report on Friday, January 31st. UBS Group cut their price objective on Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Northcoast Research initiated coverage on Trane Technologies in a research report on Friday, November 22nd. They issued a “buy” rating and a $500.00 target price on the stock. Barclays reduced their price objective on Trane Technologies from $500.00 to $475.00 and set an “overweight” rating on the stock in a research note on Monday, March 10th. Finally, Melius lowered shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 target price for the company. in a report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $413.69.

Trane Technologies Stock Down 0.2 %

Shares of TT stock opened at $349.24 on Friday. Trane Technologies plc has a 1-year low of $286.32 and a 1-year high of $422.00. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88. The company has a market cap of $78.33 billion, a price-to-earnings ratio of 31.04, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08. The stock’s fifty day moving average price is $361.84 and its 200 day moving average price is $379.62.

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

Trane Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be paid a $0.94 dividend. The ex-dividend date of this dividend is Friday, March 7th. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 dividend on an annualized basis and a yield of 1.08%. Trane Technologies’s dividend payout ratio (DPR) is currently 33.42%.

Insider Buying and Selling

In other Trane Technologies news, CFO Christopher J. Kuehn sold 876 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $357.42, for a total value of $313,099.92. Following the transaction, the chief financial officer now directly owns 63,841 shares of the company’s stock, valued at $22,818,050.22. This trade represents a 1.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO David S. Regnery sold 2,754 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total value of $984,114.36. Following the completion of the sale, the chief executive officer now owns 132,969 shares of the company’s stock, valued at $47,515,142.46. This trade represents a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,234 shares of company stock worth $2,588,102. Insiders own 0.38% of the company’s stock.

Trane Technologies Company 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.