Quadrature Capital Ltd Makes New $9.93 Million Investment in Trane Technologies plc (NYSE:TT)

Quadrature Capital Ltd acquired a new stake in shares of Trane Technologies plc (NYSE:TT) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 33,061 shares of the company’s stock, valued at approximately $9,925,000.

A number of other large investors also recently modified their holdings of the company. Norges Bank purchased a new stake in Trane Technologies during the fourth quarter valued at about $655,804,000. International Assets Investment Management LLC boosted its holdings in Trane Technologies by 24,670.7% during the 4th quarter. International Assets Investment Management LLC now owns 1,034,423 shares of the company’s stock valued at $252,296,000 after acquiring an additional 1,030,247 shares during the period. TD Asset Management Inc boosted its holdings in Trane Technologies by 719.8% during the 4th quarter. TD Asset Management Inc now owns 750,894 shares of the company’s stock valued at $183,143,000 after acquiring an additional 659,299 shares during the period. Putnam Investments LLC increased its stake in Trane Technologies by 27,824.4% in the 4th quarter. Putnam Investments LLC now owns 572,730 shares of the company’s stock worth $139,689,000 after purchasing an additional 570,679 shares during the period. Finally, Kodai Capital Management LP bought a new stake in Trane Technologies in the fourth quarter valued at approximately $77,615,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

TT has been the topic of a number of analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Trane Technologies from $247.00 to $300.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. TD Cowen upped their price target on Trane Technologies from $325.00 to $360.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Barclays lifted their price objective on Trane Technologies from $380.00 to $385.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Robert W. Baird upped their target price on Trane Technologies from $344.00 to $360.00 and gave the company a “neutral” rating in a report on Monday, July 15th. Finally, Stephens lifted their price target on shares of Trane Technologies from $310.00 to $320.00 and gave the company an “equal weight” rating in a report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $312.36.

Trane Technologies Stock Up 2.3 %

TT stock traded up $7.49 during midday trading on Friday, hitting $329.71. The company’s stock had a trading volume of 1,232,284 shares, compared to its average volume of 1,436,565. The firm’s 50-day moving average is $332.14 and its 200-day moving average is $303.06. The company has a current ratio of 1.13, a quick ratio of 0.74 and a debt-to-equity ratio of 0.58. Trane Technologies plc has a 12 month low of $184.02 and a 12 month high of $347.33. The company has a market cap of $74.63 billion, a PE ratio of 35.23, a P/E/G ratio of 2.49 and a beta of 1.01.

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

Trane Technologies Announces Dividend

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