Polar Asset Management Partners Inc. Boosts Stake in Trane Technologies plc (NYSE:TT)

Polar Asset Management Partners Inc. lifted its position in Trane Technologies plc (NYSE:TT) by 22.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,600 shares of the company’s stock after buying an additional 1,600 shares during the period. Polar Asset Management Partners Inc.’s holdings in Trane Technologies were worth $3,176,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Norges Bank purchased a new stake in Trane Technologies during the 4th quarter valued at about $1,117,816,000. Raymond James Financial Inc. acquired a new stake in shares of Trane Technologies during the 4th quarter valued at about $611,322,000. Northern Trust Corp increased its position in shares of Trane Technologies by 20.1% in the fourth quarter. Northern Trust Corp now owns 2,567,527 shares of the company’s stock valued at $948,316,000 after buying an additional 429,953 shares in the last quarter. BNP Paribas Financial Markets purchased a new position in Trane Technologies during the fourth quarter valued at $137,999,000. Finally, Bank Julius Baer & Co. Ltd Zurich boosted its holdings in Trane Technologies by 455.2% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 427,226 shares of the company’s stock worth $167,977,000 after buying an additional 350,277 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TT has been the subject of a number of recent research reports. Robert W. Baird increased their target price on shares of Trane Technologies from $360.00 to $396.00 and gave the company a “neutral” rating in a research report on Thursday, May 1st. Citigroup upped their target price on shares of Trane Technologies from $415.00 to $445.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. UBS Group lowered their target price on Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a report on Friday, January 31st. Wells Fargo & Company boosted their price target on shares of Trane Technologies from $330.00 to $370.00 and gave the stock an “underweight” rating in a research note on Thursday, May 1st. Finally, Melius Research restated a “hold” rating and issued a $398.00 price target on shares of Trane Technologies in a research note on Tuesday, January 28th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $425.47.

Trane Technologies Trading Up 1.6%

Shares of Trane Technologies stock opened at $429.20 on Friday. The company’s 50-day simple moving average is $358.06 and its 200-day simple moving average is $373.44. The firm has a market cap of $95.72 billion, a price-to-earnings ratio of 38.15, a price-to-earnings-growth ratio of 2.50 and a beta of 1.14. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. Trane Technologies plc has a 52-week low of $298.15 and a 52-week high of $429.40.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Wednesday, April 30th. The company reported $2.45 EPS for the quarter, topping the consensus estimate of $2.20 by $0.25. The business had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.46 billion. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. The business’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.94 EPS. As a group, equities research analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be given a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 0.88%. The ex-dividend date is Friday, June 6th. Trane Technologies’s dividend payout ratio (DPR) is currently 31.28%.

Insiders Place Their Bets

In related news, insider Donald E. Simmons sold 3,571 shares of the business’s stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $380.00, for a total value of $1,356,980.00. Following the transaction, the insider now owns 3,593 shares in the company, valued at approximately $1,365,340. The trade was a 49.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.38% of the stock is owned by insiders.

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.