37,576 Shares in Trane Technologies plc $TT Purchased by KADENSA CAPITAL Ltd

KADENSA CAPITAL Ltd purchased a new stake in shares of Trane Technologies plc (NYSE:TT) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 37,576 shares of the company’s stock, valued at approximately $15,856,000. Trane Technologies accounts for approximately 1.6% of KADENSA CAPITAL Ltd’s portfolio, making the stock its 28th largest holding.

A number of other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Trane Technologies by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 19,792,410 shares of the company’s stock worth $8,657,398,000 after purchasing an additional 335,634 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Trane Technologies by 10.2% in the third quarter. JPMorgan Chase & Co. now owns 15,525,010 shares of the company’s stock worth $6,550,975,000 after purchasing an additional 1,433,563 shares during the period. State Street Corp boosted its stake in Trane Technologies by 0.3% during the second quarter. State Street Corp now owns 10,077,267 shares of the company’s stock worth $4,407,904,000 after buying an additional 31,826 shares in the last quarter. Norges Bank bought a new stake in Trane Technologies in the 2nd quarter valued at $1,356,065,000. Finally, Nordea Investment Management AB raised its stake in shares of Trane Technologies by 2.4% in the 3rd quarter. Nordea Investment Management AB now owns 2,513,508 shares of the company’s stock valued at $1,051,049,000 after buying an additional 57,774 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, CAO Elizabeth A. Elwell sold 635 shares of the company’s stock in a transaction on Friday, March 6th. The shares were sold at an average price of $422.70, for a total transaction of $268,414.50. Following the completion of the sale, the chief accounting officer owned 7,100 shares in the company, valued at approximately $3,001,170. The trade was a 8.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO David S. Regnery sold 36,045 shares of the stock in a transaction on Friday, March 6th. The shares were sold at an average price of $422.69, for a total value of $15,235,861.05. Following the completion of the transaction, the chief executive officer directly owned 96,948 shares in the company, valued at approximately $40,978,950.12. This trade represents a 27.10% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 49,378 shares of company stock valued at $21,228,464 in the last three months. Insiders own 0.14% of the company’s stock.

Trane Technologies Price Performance

Shares of TT stock opened at $422.66 on Monday. The firm has a market cap of $93.55 billion, a price-to-earnings ratio of 32.56, a PEG 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. The stock has a 50-day moving average price of $426.27 and a 200 day moving average price of $417.13.

Trane Technologies (NYSE:TT) last released its earnings results on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.81 by $0.05. The company had revenue of $5.14 billion for the quarter, compared to the consensus estimate of $5.09 billion. Trane Technologies had a net margin of 13.69% and a return on equity of 36.34%. The company’s revenue was up 5.6% compared to the same quarter last year. During the same period in the prior year, the company posted $2.61 EPS. Research analysts expect that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 6th will be issued a $1.05 dividend. This is an increase from Trane Technologies’s previous quarterly dividend of $0.94. This represents a $4.20 annualized dividend and a yield of 1.0%. The ex-dividend date is Friday, March 6th. Trane Technologies’s dividend payout ratio (DPR) is currently 32.36%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on TT shares. Melius Research raised shares of Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 price objective for the company in a report on Wednesday, January 7th. Oppenheimer increased their price target on shares of Trane Technologies from $460.00 to $468.00 and gave the stock an “outperform” rating in a research report on Friday, January 30th. KeyCorp upgraded shares of Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 price target for the company in a research note on Monday, December 15th. UBS Group decreased their price objective on Trane Technologies from $544.00 to $520.00 and set a “buy” rating on the stock in a report on Monday, January 5th. Finally, Citigroup upped their price objective on Trane Technologies from $513.00 to $525.00 and gave the company a “buy” rating in a research note on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company 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.