Twinbeech Capital LP Buys New Stake in Trane Technologies plc (NYSE:TT)

Twinbeech Capital LP acquired a new position in shares of Trane Technologies plc (NYSE:TT) during the 4th quarter, Holdings Channel.com reports. The fund acquired 12,073 shares of the company’s stock, valued at approximately $4,459,000.

Other large investors have also recently added to or reduced their stakes in the company. Minot DeBlois Advisors LLC bought a new stake in shares of Trane Technologies during the fourth quarter valued at approximately $26,000. Sound Income Strategies LLC grew its stake in shares of 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 purchasing an additional 92 shares during the last quarter. Flagship Wealth Advisors LLC bought a new stake in shares of Trane Technologies during the fourth quarter valued at approximately $37,000. Golden State Wealth Management LLC bought a new stake in shares of Trane Technologies during the fourth quarter valued at approximately $39,000. Finally, BankPlus Trust Department bought a new stake in shares of Trane Technologies during the fourth quarter valued at approximately $45,000. 82.97% of the stock is owned by institutional investors.

Trane Technologies Price Performance

NYSE TT opened at $429.78 on Wednesday. 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 stock has a market cap of $95.85 billion, a price-to-earnings ratio of 38.20, a PEG ratio of 2.50 and a beta of 1.14. The business has a 50 day simple moving average of $361.71 and a 200 day simple moving average of $374.22. Trane Technologies plc has a 52-week low of $298.15 and a 52-week high of $431.69.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $2.45 earnings per share (EPS) for the quarter, topping 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 net margin of 12.94% and a return on equity of 35.37%. 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 earned $1.94 earnings per share. Analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be paid a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend is Friday, June 6th. Trane Technologies’s dividend payout ratio is 31.28%.

Wall Street Analysts Forecast Growth

TT has been the topic of several research analyst reports. Stephens raised shares of Trane Technologies from an “equal weight” rating to an “overweight” rating and set a $475.00 price target on the stock in a research note on Thursday, May 1st. JPMorgan Chase & Co. lifted their target price on shares of Trane Technologies from $334.00 to $400.00 and gave the stock a “neutral” rating in a report on Friday, May 16th. HSBC raised Trane Technologies from a “hold” rating to a “buy” rating and increased their price target for the company from $405.00 to $415.00 in a research note on Friday, April 25th. Royal Bank of Canada lifted their price objective on Trane Technologies from $363.00 to $408.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 1st. Finally, Hsbc Global Res raised Trane Technologies from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 25th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $425.47.

Insider Activity

In other news, insider Donald E. Simmons sold 3,571 shares of the company’s stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $380.00, for a total transaction of $1,356,980.00. Following the completion of the transaction, the insider now directly owns 3,593 shares of the company’s stock, valued at $1,365,340. This represents a 49.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.38% of the company’s stock.

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.