Syon Capital LLC Grows Position in Trane Technologies plc (NYSE:TT)

Syon Capital LLC lifted its holdings in shares of Trane Technologies plc (NYSE:TT) by 17.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,329 shares of the company’s stock after buying an additional 349 shares during the period. Syon Capital LLC’s holdings in Trane Technologies were worth $568,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Avior Wealth Management LLC lifted its position in shares of Trane Technologies by 58.0% during the 3rd quarter. Avior Wealth Management LLC now owns 177 shares of the company’s stock valued at $36,000 after buying an additional 65 shares in the last quarter. Caprock Group LLC lifted its position in shares of Trane Technologies by 15.8% during the 3rd quarter. Caprock Group LLC now owns 1,528 shares of the company’s stock valued at $310,000 after buying an additional 208 shares in the last quarter. Czech National Bank lifted its position in shares of Trane Technologies by 47.9% during the 3rd quarter. Czech National Bank now owns 39,919 shares of the company’s stock valued at $8,100,000 after buying an additional 12,922 shares in the last quarter. Birch Hill Investment Advisors LLC lifted its position in shares of Trane Technologies by 3.1% during the 3rd quarter. Birch Hill Investment Advisors LLC now owns 37,502 shares of the company’s stock valued at $7,610,000 after buying an additional 1,122 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its position in shares of Trane Technologies by 5.8% during the 3rd quarter. Handelsbanken Fonder AB now owns 37,311 shares of the company’s stock valued at $7,571,000 after buying an additional 2,037 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Barclays lifted their target price on Trane Technologies from $286.00 to $325.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. Royal Bank of Canada lifted their target price on Trane Technologies from $231.00 to $246.00 and gave the company a “sector perform” rating in a research note on Friday, February 2nd. Stephens lifted their target price on Trane Technologies from $235.00 to $280.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 6th. Citigroup lifted their target price on Trane Technologies from $309.00 to $355.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Finally, The Goldman Sachs Group lifted their target price on Trane Technologies from $253.00 to $287.00 and gave the company a “neutral” rating in a research note on Monday, February 5th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $251.83.

Trane Technologies Trading Up 1.7 %

Shares of Trane Technologies stock traded up $5.16 on Friday, reaching $304.53. The company had a trading volume of 914,197 shares, compared to its average volume of 998,344. The firm has a market cap of $69.15 billion, a price-to-earnings ratio of 34.06, a P/E/G ratio of 2.50 and a beta of 1.05. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.13 and a quick ratio of 0.78. The firm’s 50-day moving average price is $291.57 and its two-hundred day moving average price is $253.55. Trane Technologies plc has a 1 year low of $162.04 and a 1 year high of $306.98.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Thursday, February 1st. The company reported $2.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.13 by $0.04. Trane Technologies had a return on equity of 32.01% and a net margin of 11.45%. The company had revenue of $4.42 billion during the quarter, compared to analysts’ expectations of $4.43 billion. During the same quarter in the previous year, the business earned $1.82 EPS. Trane Technologies’s revenue was up 8.6% compared to the same quarter last year. As a group, research analysts predict that Trane Technologies plc will post 10.2 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date is Thursday, June 6th. Trane Technologies’s dividend payout ratio is presently 38.23%.

Insider Activity

In other news, CEO David S. Regnery sold 6,990 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $286.19, for a total value of $2,000,468.10. Following the transaction, the chief executive officer now directly owns 113,874 shares of the company’s stock, valued at $32,589,600.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO David S. Regnery sold 6,990 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $286.19, for a total value of $2,000,468.10. Following the sale, the chief executive officer now owns 113,874 shares in the company, valued at $32,589,600.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Paul A. Camuti sold 5,643 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $288.30, for a total value of $1,626,876.90. Following the completion of the sale, the executive vice president now owns 88,770 shares in the company, valued at approximately $25,592,391. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,874 shares of company stock valued at $8,462,825. Company insiders own 0.39% 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.