Trane Technologies plc (NYSE:TT) Stake Boosted by SpiderRock Advisors LLC

SpiderRock Advisors LLC increased its stake in Trane Technologies plc (NYSE:TT) by 9.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 5,795 shares of the company’s stock after acquiring an additional 496 shares during the period. SpiderRock Advisors LLC’s holdings in Trane Technologies were worth $2,253,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. CWA Asset Management Group LLC bought a new position in shares of Trane Technologies in the third quarter worth $386,000. Equitable Trust Co. purchased a new position in shares of Trane Technologies during the 3rd quarter valued at $220,000. ABLE Financial Group LLC acquired a new position in Trane Technologies in the 3rd quarter worth about $210,000. Capital Performance Advisors LLP acquired a new position in Trane Technologies in the third quarter worth approximately $66,000. Finally, Philip James Wealth Mangement LLC bought a new position in shares of Trane Technologies during the 3rd quarter valued at $269,000. 82.97% of the stock is currently owned by institutional investors.

Trane Technologies Stock Performance

Shares of NYSE TT traded up $0.68 during trading hours on Monday, reaching $376.83. The stock had a trading volume of 261,994 shares, compared to its average volume of 1,102,467. The company has a market cap of $84.79 billion, a price-to-earnings ratio of 34.89, a PEG ratio of 2.51 and a beta of 1.02. Trane Technologies plc has a twelve month low of $214.35 and a twelve month high of $406.96. The business’s fifty day moving average is $377.83 and its two-hundred day moving average is $346.08. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.84.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, topping analysts’ consensus estimates of $3.23 by $0.14. The company had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $5.32 billion. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The firm’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period last year, the firm earned $2.79 EPS. As a group, research analysts expect that Trane Technologies plc will post 11.06 EPS for the current year.

Trane Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be paid a $0.84 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.36 annualized dividend and a dividend yield of 0.89%. Trane Technologies’s dividend payout ratio is currently 31.17%.

Insider Transactions at Trane Technologies

In other Trane Technologies news, CEO David S. Regnery sold 29,450 shares of Trane Technologies stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $321.25, for a total transaction of $9,460,812.50. Following the completion of the transaction, the chief executive officer now directly owns 132,946 shares of the company’s stock, valued at approximately $42,708,902.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Raymond D. Pittard sold 1,805 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total transaction of $593,213.25. Following the sale, the executive vice president now directly owns 83,517 shares in the company, valued at $27,447,862.05. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David S. Regnery sold 29,450 shares of Trane Technologies stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $321.25, for a total value of $9,460,812.50. Following the completion of the transaction, the chief executive officer now owns 132,946 shares of the company’s stock, valued at approximately $42,708,902.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by insiders.

Analysts Set New Price Targets

TT has been the topic of a number of recent analyst reports. Robert W. Baird cut their price objective on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a research note on Thursday. Morgan Stanley began coverage on shares of Trane Technologies in a research report on Friday, September 6th. They issued an “overweight” rating and a $425.00 price target on the stock. Hsbc Global Res downgraded shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday. Mizuho lifted their target price on shares of Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Finally, The Goldman Sachs Group upped their price target on shares of Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Trane Technologies has a consensus rating of “Hold” and a consensus target price of $380.15.

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.