SteelPeak Wealth LLC Takes $835,000 Position in Trane Technologies plc (NYSE:TT)

SteelPeak Wealth LLC purchased a new stake in shares of Trane Technologies plc (NYSE:TT) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,147 shares of the company’s stock, valued at approximately $835,000.

Several other large investors have also made changes to their positions in TT. Empowered Funds LLC lifted its stake in Trane Technologies by 138.0% in the first quarter. Empowered Funds LLC now owns 6,667 shares of the company’s stock valued at $2,001,000 after buying an additional 3,866 shares during the period. Nordea Investment Management AB lifted its stake in Trane Technologies by 3.0% in the first quarter. Nordea Investment Management AB now owns 453,212 shares of the company’s stock valued at $135,796,000 after buying an additional 13,078 shares during the period. Sei Investments Co. increased its holdings in shares of Trane Technologies by 379.2% in the first quarter. Sei Investments Co. now owns 306,165 shares of the company’s stock worth $91,909,000 after acquiring an additional 242,271 shares in the last quarter. Albar Capital Ltd bought a new stake in shares of Trane Technologies in the second quarter worth about $14,556,000. Finally, M&G Plc bought a new stake in shares of Trane Technologies in the first quarter worth about $8,939,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on TT shares. Mizuho increased their price target on Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Robert W. Baird increased their price target on Trane Technologies from $360.00 to $365.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Stephens restated an “equal weight” rating and issued a $350.00 price target on shares of Trane Technologies in a report on Monday, August 5th. Royal Bank of Canada increased their price objective on Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a report on Thursday, August 1st. Finally, Barclays increased their price objective on Trane Technologies from $394.00 to $425.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, Trane Technologies currently has an average rating of “Hold” and an average target price of $373.58.

Trane Technologies Stock Down 3.9 %

TT stock opened at $375.52 on Thursday. The company has a quick ratio of 0.84, a current ratio of 1.17 and a debt-to-equity ratio of 0.62. The business has a 50 day moving average price of $376.97 and a two-hundred day moving average price of $344.61. The company has a market cap of $85.00 billion, a price-to-earnings ratio of 40.12, a P/E/G ratio of 2.70 and a beta of 1.01. Trane Technologies plc has a twelve month low of $186.24 and a twelve month high of $406.96.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $3.30 earnings per share for the quarter, beating analysts’ consensus estimates of $3.08 by $0.22. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. The firm had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.13 billion. During the same period last year, the company earned $2.68 earnings per share. The business’s revenue was up 12.8% compared to the same quarter last year. Analysts anticipate that Trane Technologies plc will post 10.89 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be given a $0.84 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.89%. Trane Technologies’s payout ratio is 35.90%.

Insider Activity

In other news, CEO David S. Regnery sold 29,450 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $321.25, for a total value of $9,460,812.50. Following the completion of the sale, the chief executive officer now directly owns 132,946 shares of the company’s stock, valued at $42,708,902.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, CEO David S. Regnery sold 29,450 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $321.25, for a total value of $9,460,812.50. Following the completion of the sale, the chief executive officer now directly owns 132,946 shares of the company’s stock, valued at $42,708,902.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Raymond D. Pittard sold 1,805 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total value of $593,213.25. Following the completion of the sale, the executive vice president now directly owns 83,517 shares of the company’s stock, valued at approximately $27,447,862.05. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.38% of the company’s stock.

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.