30,176 Shares in Trane Technologies plc (NYSE:TT) Acquired by Sone Capital Management LLC

Sone Capital Management LLC acquired 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 fund acquired 30,176 shares of the company’s stock, valued at approximately $11,146,000. Trane Technologies comprises 1.4% of Sone Capital Management LLC’s holdings, making the stock its 23rd largest position.

A number of other hedge funds have also recently added to or reduced their stakes in TT. Norges Bank purchased a new stake in Trane Technologies during the 4th quarter worth approximately $1,117,816,000. Raymond James Financial Inc. acquired a new position in shares of Trane Technologies during the fourth quarter valued at $611,322,000. Northern Trust Corp increased its position 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 valued at $948,316,000 after purchasing an additional 429,953 shares during the period. BNP Paribas Financial Markets acquired a new stake in Trane Technologies during the fourth quarter valued at approximately $137,999,000. Finally, Bank Julius Baer & Co. Ltd Zurich increased its stake 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 purchasing an additional 350,277 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of the company’s stock in a transaction dated 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 sale, 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 document filed with the Securities & Exchange Commission, which is available through this link. 0.38% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have weighed in on TT shares. HSBC upgraded shares of Trane Technologies from a “hold” rating to a “buy” rating and upped their price objective for the company from $405.00 to $415.00 in a research note on Friday, April 25th. Wells Fargo & Company upped their target price on shares of Trane Technologies from $330.00 to $370.00 and gave the company an “underweight” rating in a research note on Thursday, May 1st. JPMorgan Chase & Co. raised their price target on shares of Trane Technologies from $334.00 to $400.00 and gave the stock a “neutral” rating in a research note on Friday. Melius cut shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price objective on the stock. in a research note on Tuesday, January 28th. Finally, 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. One equities research 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 company’s stock. According to data from MarketBeat.com, Trane Technologies currently has an average rating of “Moderate Buy” and an average price target of $425.47.

Trane Technologies Stock Performance

Shares of TT opened at $429.20 on Monday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88. Trane Technologies plc has a one year low of $298.15 and a one year high of $429.40. The stock has a 50-day moving average of $358.06 and a 200-day moving average of $373.45. The company has a market cap of $95.72 billion, a PE ratio of 38.15, a P/E/G ratio of 2.50 and a beta of 1.14.

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 analysts’ consensus estimates of $2.20 by $0.25. The business 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 quarterly revenue was up 11.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.94 EPS. On average, equities research analysts predict that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend is Friday, June 6th. Trane Technologies’s payout ratio is 31.28%.

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.