Night Squared LP Purchases New Position in Trane Technologies plc $TT

Night Squared LP purchased a new stake in Trane Technologies plc (NYSE:TT) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 17,186 shares of the company’s stock, valued at approximately $7,252,000. Trane Technologies makes up 2.6% of Night Squared LP’s holdings, making the stock its 11th largest holding.

Other hedge funds also recently modified their holdings of the company. Financial Consulate Inc. acquired a new position in shares of Trane Technologies in the 3rd quarter worth approximately $25,000. Icon Advisers Inc. Co. acquired a new stake in Trane Technologies during the 2nd quarter valued at $26,000. United Community Bank increased its holdings in Trane Technologies by 134.4% during the 3rd quarter. United Community Bank now owns 75 shares of the company’s stock valued at $32,000 after purchasing an additional 43 shares in the last quarter. Halbert Hargrove Global Advisors LLC raised its position in Trane Technologies by 34.2% in the 3rd quarter. Halbert Hargrove Global Advisors LLC now owns 102 shares of the company’s stock valued at $43,000 after purchasing an additional 26 shares during the last quarter. Finally, Hantz Financial Services Inc. boosted its stake in Trane Technologies by 58.2% in the third quarter. Hantz Financial Services Inc. now owns 106 shares of the company’s stock worth $45,000 after purchasing an additional 39 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Trading Up 0.2%

Shares of TT opened at $422.66 on Friday. The stock’s fifty day simple moving average is $426.27 and its 200-day simple moving average is $417.25. The firm has a market capitalization of $93.55 billion, a PE ratio of 32.56, a price-to-earnings-growth ratio of 2.22 and a beta of 1.19. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $479.37. The company has a quick ratio of 0.92, a current ratio of 1.25 and a debt-to-equity ratio of 0.46.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Thursday, January 29th. The company reported $2.86 EPS for the quarter, topping analysts’ consensus estimates of $2.81 by $0.05. The firm had revenue of $5.14 billion during the quarter, compared to analyst estimates of $5.09 billion. Trane Technologies had a return on equity of 36.34% and a net margin of 13.69%.The company’s revenue was up 5.6% on a year-over-year basis. During the same period last year, the company earned $2.61 earnings per share. As a group, research analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 6th will be given a dividend of $1.05 per share. The ex-dividend date is Friday, March 6th. This represents a $4.20 annualized dividend and a dividend yield of 1.0%. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.94. Trane Technologies’s dividend payout ratio is presently 32.36%.

Insider Buying and Selling at Trane Technologies

In related news, CEO David S. Regnery sold 36,045 shares of the business’s stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $422.69, for a total transaction of $15,235,861.05. Following the completion of the sale, the chief executive officer directly owned 96,948 shares of the company’s stock, valued at $40,978,950.12. The trade was a 27.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Christopher J. Kuehn sold 2,389 shares of the stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $462.70, for a total transaction of $1,105,390.30. Following the completion of the transaction, the chief financial officer owned 60,486 shares in the company, valued at $27,986,872.20. This represents a 3.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 49,378 shares of company stock valued at $21,228,464. 0.14% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

TT has been the subject of a number of research reports. JPMorgan Chase & Co. raised their target price on Trane Technologies from $434.00 to $460.00 and gave the company a “neutral” rating in a research note on Friday, January 30th. UBS Group reduced their price target on shares of Trane Technologies from $544.00 to $520.00 and set a “buy” rating on the stock in a research report on Monday, January 5th. Melius Research raised shares of Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 price objective on the stock in a report on Wednesday, January 7th. Weiss Ratings restated a “buy (b)” rating on shares of Trane Technologies in a research report on Wednesday, January 21st. Finally, Morgan Stanley reduced their target price on shares of Trane Technologies from $550.00 to $535.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 13th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Trane Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $484.67.

Trane Technologies Company Profile

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.