Twin Tree Management LP Purchases New Holdings in Trane Technologies plc (NYSE:TT)

Twin Tree Management LP purchased a new stake in Trane Technologies plc (NYSE:TT) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,149 shares of the company’s stock, valued at approximately $424,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Global Wealth Strategies & Associates acquired a new stake in Trane Technologies during the fourth quarter valued at approximately $26,000. Sound Income Strategies LLC raised its stake in Trane Technologies by 1,314.3% during the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock valued at $37,000 after buying an additional 92 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in Trane Technologies during the fourth quarter valued at approximately $39,000. Legacy Investment Solutions LLC acquired a new stake in Trane Technologies during the third quarter valued at approximately $44,000. Finally, BankPlus Trust Department acquired a new stake in shares of Trane Technologies during the 4th quarter worth approximately $45,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Transactions at Trane Technologies

In related news, SVP Mairead Magner sold 198 shares of the stock in a transaction on Tuesday, February 4th. The stock was 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 directly owns 13,401 shares in the company, valued at approximately $4,792,331.61. This trade represents a 1.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David S. Regnery sold 2,754 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total value of $984,114.36. Following the transaction, the chief executive officer now owns 132,969 shares in the company, valued at approximately $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. Insiders sold a total of 7,234 shares of company stock valued at $2,588,102 in the last three months. 0.38% of the stock is currently owned by corporate insiders.

Trane Technologies Stock Performance

Shares of NYSE TT opened at $350.28 on Thursday. The stock has a fifty day moving average price of $362.58 and a two-hundred day moving average price of $379.83. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21. The firm has a market cap of $78.56 billion, a P/E ratio of 31.14, a PEG ratio of 2.50 and a beta of 1.08. Trane Technologies plc has a 1 year low of $286.32 and a 1 year high of $422.00.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results 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 return on equity of 35.37% and a net margin of 12.94%. Research analysts forecast that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be paid a dividend of $0.94 per share. 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 1.07%. The ex-dividend date is Friday, March 7th. Trane Technologies’s dividend payout ratio (DPR) is presently 33.42%.

Analyst Upgrades and Downgrades

TT has been the topic of a number of research reports. Melius Research reiterated a “hold” rating and set a $398.00 price target on shares of Trane Technologies in a research report on Tuesday, January 28th. Melius cut Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price target on the stock. in a research report on Tuesday, January 28th. UBS Group dropped their price target on Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Royal Bank of Canada increased their price target on Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a research report on Friday, January 3rd. Finally, Citigroup dropped their price target on Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $413.69.

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.