Trane Technologies plc $TT Shares Bought by R Squared Ltd

R Squared Ltd raised its holdings in Trane Technologies plc (NYSE:TT) by 226.4% in the third quarter, HoldingsChannel reports. The institutional investor owned 2,001 shares of the company’s stock after acquiring an additional 1,388 shares during the quarter. R Squared Ltd’s holdings in Trane Technologies were worth $904,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Maryland State Retirement & Pension System increased its holdings in shares of Trane Technologies by 13.9% during the third quarter. Maryland State Retirement & Pension System now owns 13,516 shares of the company’s stock valued at $6,109,000 after acquiring an additional 1,650 shares in the last quarter. Ritholtz Wealth Management boosted its stake in Trane Technologies by 16.9% in the 3rd quarter. Ritholtz Wealth Management now owns 3,896 shares of the company’s stock worth $1,761,000 after purchasing an additional 563 shares in the last quarter. UNIVEST FINANCIAL Corp boosted its stake in Trane Technologies by 6.3% in the 3rd quarter. UNIVEST FINANCIAL Corp now owns 882 shares of the company’s stock worth $398,000 after purchasing an additional 52 shares in the last quarter. Joel Isaacson & Co. LLC boosted its stake in Trane Technologies by 15.0% in the 3rd quarter. Joel Isaacson & Co. LLC now owns 713 shares of the company’s stock worth $322,000 after purchasing an additional 93 shares in the last quarter. Finally, First Command Advisory Services Inc. grew its position in Trane Technologies by 17.6% during the 3rd quarter. First Command Advisory Services Inc. now owns 254 shares of the company’s stock worth $115,000 after purchasing an additional 38 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on TT shares. Deutsche Bank cut their price target on shares of Trane Technologies from $515.00 to $499.00 and set a “hold” rating on the stock in a research note on Wednesday, September 30th. Evercore raised their price target on shares of Trane Technologies from $560.00 to $565.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Robert W. Baird lifted their price objective on shares of Trane Technologies from $515.00 to $532.00 and gave the stock a “neutral” rating in a research note on Thursday, July 23rd. Citigroup dropped their price objective on shares of Trane Technologies from $566.00 to $549.00 and set a “buy” rating on the stock in a report on Monday, November 2nd. Finally, Argus set a $500.00 target price on Trane Technologies in a research report on Friday, October 30th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $531.22.

Trane Technologies Price Performance

Shares of NYSE:TT opened at $424.46 on Friday. Trane Technologies plc has a twelve month low of $348.06 and a twelve month high of $505.87. The company has a current ratio of 1.12, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The company has a market cap of $92.92 billion, a PE ratio of 29.98, a price-to-earnings-growth ratio of 1.99 and a beta of 1.19. The company’s 50 day moving average is $444.05 and its 200 day moving average is $455.09.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Thursday, October 29th. The company reported $4.86 EPS for the quarter, beating the consensus estimate of $4.74 by $0.12. The business had revenue of $6.76 billion during the quarter, compared to analysts’ expectations of $6.50 billion. Trane Technologies had a net margin of 13.56% and a return on equity of 37.26%. The business’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same period in the previous year, the business posted $3.88 EPS. On average, sell-side analysts forecast that Trane Technologies plc will post 15.29 EPS for the current year.

Trane Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Friday, December 4th will be issued a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, December 4th. Trane Technologies’s dividend payout ratio (DPR) is 29.66%.

Insider Activity

In related news, CEO David Regnery sold 48,091 shares of the business’s stock in a transaction on Tuesday, October 6th. The shares were sold at an average price of $480.00, for a total transaction of $23,083,680.00. Following the completion of the transaction, the chief executive officer directly owned 96,951 shares in the company, valued at $46,536,480. The trade was a 33.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is currently owned by company insiders.

Trane Technologies Company Profile

Trane Technologies plc is a global climate innovator that designs, manufactures, and services heating, ventilation, air conditioning, and refrigeration systems. Its products and services support commercial buildings, homes, and transportation applications, including temperature-controlled shipping. The company’s portfolio includes the Trane brand of HVAC systems and building services, as well as Thermo King equipment for transport refrigeration and climate control. It also offers building controls, energy-efficiency solutions, system maintenance, and related services.