Tidal Investments LLC Has $29.81 Million Stock Position in Trane Technologies plc (NYSE:TT)

Tidal Investments LLC lifted its stake in shares of Trane Technologies plc (NYSE:TT) by 409.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 80,695 shares of the company’s stock after purchasing an additional 64,868 shares during the quarter. Tidal Investments LLC’s holdings in Trane Technologies were worth $29,805,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of TT. Norges Bank acquired a new stake in shares of Trane Technologies during the 4th quarter worth $1,117,816,000. Raymond James Financial Inc. acquired a new stake in shares of Trane Technologies during the 4th quarter worth $611,322,000. Northern Trust Corp grew its holdings in shares of Trane Technologies by 20.1% during the 4th quarter. Northern Trust Corp now owns 2,567,527 shares of the company’s stock worth $948,316,000 after purchasing an additional 429,953 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of Trane Technologies during the 4th quarter worth $137,999,000. Finally, Bank Julius Baer & Co. Ltd Zurich grew its holdings in shares of Trane Technologies by 455.2% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 427,226 shares of the company’s stock worth $167,977,000 after purchasing an additional 350,277 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

TT has been the topic of a number of recent analyst reports. Citigroup lifted their target price on Trane Technologies from $415.00 to $445.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. Wells Fargo & Company increased their target price on shares of Trane Technologies from $330.00 to $370.00 and gave the stock an “underweight” rating in a report on Thursday, May 1st. Melius Research reissued a “hold” rating and issued a $398.00 target price on shares of Trane Technologies in a report on Tuesday, January 28th. HSBC raised shares of Trane Technologies from a “hold” rating to a “buy” rating and increased their target price for the stock from $405.00 to $415.00 in a report on Friday, April 25th. Finally, Hsbc Global Res raised shares of Trane Technologies from a “hold” rating to a “strong-buy” rating in a report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $425.47.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of the stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $380.00, for a total transaction of $1,356,980.00. Following the completion of the sale, the insider now owns 3,593 shares of the company’s stock, valued at approximately $1,365,340. This represents a 49.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.38% of the company’s stock.

Trane Technologies Stock Performance

Trane Technologies stock opened at $429.20 on Friday. The business has a 50 day moving average of $358.06 and a 200-day moving average of $373.43. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $429.40. 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 capitalization of $95.72 billion, a P/E ratio of 38.15, a P/E/G ratio of 2.50 and a beta of 1.14.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Wednesday, April 30th. The company reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $0.25. The company had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.46 billion. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. The firm’s revenue was up 11.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.94 earnings per share. On average, equities research analysts predict 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. Shareholders of record on Friday, June 6th will be given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date is Friday, June 6th. Trane Technologies’s dividend payout ratio is presently 31.28%.

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.