Trane Technologies plc $TT Shares Purchased by Phoenix Financial Ltd.

Phoenix Financial Ltd. lifted its holdings in Trane Technologies plc (NYSE:TT) by 1,958.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 291,665 shares of the company’s stock after purchasing an additional 277,496 shares during the period. Trane Technologies comprises about 1.2% of Phoenix Financial Ltd.’s portfolio, making the stock its 23rd largest holding. Phoenix Financial Ltd.’s holdings in Trane Technologies were worth $113,515,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of TT. Brighton Jones LLC grew its holdings in Trane Technologies by 60.0% in the fourth quarter. Brighton Jones LLC now owns 6,194 shares of the company’s stock valued at $2,288,000 after purchasing an additional 2,323 shares during the period. Sivia Capital Partners LLC raised its stake in shares of Trane Technologies by 22.4% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,665 shares of the company’s stock worth $728,000 after buying an additional 305 shares during the period. Schnieders Capital Management LLC. purchased a new position in shares of Trane Technologies during the 2nd quarter valued at approximately $227,000. Nebula Research & Development LLC lifted its position in shares of Trane Technologies by 178.0% during the 2nd quarter. Nebula Research & Development LLC now owns 2,371 shares of the company’s stock valued at $1,037,000 after buying an additional 1,518 shares in the last quarter. Finally, Treasurer of the State of North Carolina grew its stake in Trane Technologies by 0.5% in the 2nd quarter. Treasurer of the State of North Carolina now owns 104,140 shares of the company’s stock valued at $45,552,000 after acquiring an additional 497 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Trading Up 2.2%

Shares of TT stock opened at $481.43 on Friday. Trane Technologies plc has a fifty-two week low of $348.06 and a fifty-two week high of $503.47. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.10. The stock’s fifty day moving average is $449.74 and its two-hundred day moving average is $428.59. The firm has a market capitalization of $106.42 billion, a P/E ratio of 37.23, a PEG ratio of 2.17 and a beta of 1.25.

Trane Technologies (NYSE:TT) last released its earnings results on Friday, May 1st. The company reported $2.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.10. The business had revenue of $4.97 billion during the quarter, compared to analyst estimates of $4.81 billion. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.45 earnings per share. Research analysts expect that Trane Technologies plc will post 14.87 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 5th will be paid a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, June 5th. Trane Technologies’s dividend payout ratio is currently 32.48%.

Analyst Upgrades and Downgrades

TT has been the subject of a number of research analyst reports. Royal Bank Of Canada upped their price objective on shares of Trane Technologies from $440.00 to $501.00 and gave the stock a “sector perform” rating in a research report on Friday, May 1st. BNP Paribas Exane began coverage on shares of Trane Technologies in a research report on Tuesday, April 14th. They issued an “outperform” rating and a $550.00 target price on the stock. Wells Fargo & Company upped their price target on shares of Trane Technologies from $375.00 to $400.00 and gave the stock an “underweight” rating in a research report on Friday, January 30th. KeyCorp raised their price target on shares of Trane Technologies from $525.00 to $555.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Finally, Barclays lifted their price objective on Trane Technologies from $507.00 to $585.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Trane Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $506.56.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, CAO Elizabeth A. Elwell sold 635 shares of the firm’s stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $422.70, for a total value of $268,414.50. Following the transaction, the chief accounting officer directly owned 7,100 shares of the company’s stock, valued at $3,001,170. This trade represents a 8.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Christopher J. Kuehn sold 8,619 shares of the business’s stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $450.00, for a total value of $3,878,550.00. Following the transaction, the chief financial officer owned 60,576 shares in the company, valued at approximately $27,259,200. This 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. Insiders have sold a total of 53,654 shares of company stock worth $23,269,523 in the last quarter. Insiders own 0.14% of the company’s stock.

Trane Technologies 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.