ClearAlpha Technologies LP Takes Position in Trane Technologies plc $TT

ClearAlpha Technologies LP purchased a new stake in Trane Technologies plc (NYSE:TT) during the fourth quarter, according to its most recent filing with the SEC. The fund purchased 3,842 shares of the company’s stock, valued at approximately $1,495,000. Trane Technologies comprises about 4.3% of ClearAlpha Technologies LP’s portfolio, making the stock its 5th largest holding.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in Trane Technologies by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 20,020,321 shares of the company’s stock valued at $7,791,909,000 after acquiring an additional 192,270 shares during the last quarter. State Street Corp increased its holdings in Trane Technologies by 0.6% in the 4th quarter. State Street Corp now owns 10,113,123 shares of the company’s stock valued at $3,936,034,000 after acquiring an additional 61,393 shares during the last quarter. Geode Capital Management LLC increased its holdings in Trane Technologies by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 5,071,072 shares of the company’s stock valued at $1,964,896,000 after acquiring an additional 14,179 shares during the last quarter. Norges Bank bought a new stake in Trane Technologies in the 4th quarter valued at $1,163,124,000. Finally, Nordea Investment Management AB increased its holdings in Trane Technologies by 2.9% in the 4th quarter. Nordea Investment Management AB now owns 2,586,506 shares of the company’s stock valued at $1,010,419,000 after acquiring an additional 72,998 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors.

Insider Activity

In other Trane Technologies news, insider Donald E. Simmons sold 4,593 shares of the business’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $500.00, for a total value of $2,296,500.00. Following the completion of the sale, the insider directly owned 3,819 shares of the company’s stock, valued at $1,909,500. The trade was a 54.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Christopher J. Kuehn sold 8,619 shares of the business’s stock in a transaction dated Wednesday, April 8th. The shares were sold at an average price of $450.00, for a total transaction of $3,878,550.00. Following the completion of the sale, the chief financial officer directly owned 60,576 shares of the company’s stock, valued at approximately $27,259,200. This trade represents a 12.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is owned by insiders.

Trane Technologies Price Performance

Trane Technologies stock opened at $472.61 on Thursday. The stock has a market cap of $104.47 billion, a price-to-earnings ratio of 36.55, a price-to-earnings-growth ratio of 2.19 and a beta of 1.20. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.10 and a quick ratio of 0.77. Trane Technologies plc has a 1 year low of $348.06 and a 1 year high of $503.47. The firm has a 50-day moving average of $466.16 and a two-hundred day moving average of $434.44.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Friday, May 1st. The company reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.10. The company had revenue of $4.97 billion during the quarter, compared to analysts’ expectations of $4.81 billion. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.45 EPS. On average, research analysts forecast that Trane Technologies plc will post 14.88 earnings per share for the current year.

Trane Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, September 4th will be given a $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, September 4th. Trane Technologies’s payout ratio is 32.48%.

Analyst Upgrades and Downgrades

TT has been the topic of a number of research reports. KeyCorp lifted their price target on shares of Trane Technologies from $525.00 to $555.00 and gave the company an “overweight” rating in a report on Friday, May 1st. BNP Paribas Exane initiated coverage on shares of Trane Technologies in a report on Tuesday, April 14th. They issued an “outperform” rating and a $550.00 price target on the stock. JPMorgan Chase & Co. lifted their price target on shares of Trane Technologies from $460.00 to $476.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. Sanford C. Bernstein began coverage on shares of Trane Technologies in a report on Tuesday, June 9th. They issued an “outperform” rating and a $550.00 target price on the stock. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Trane Technologies in a report on Monday, April 20th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Trane Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $509.12.

About Trane Technologies

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.